Shiny Health & Wellness Update

(TheNewswire)

TORONTO / TheNewswire: March 26, 2024 – Shiny Health & Wellness Corp. (the “Company”) (TSXV: SNYB) announces that pursuant to the Company’s previous press release it has settled an aggregate amount of $156,850 in accrued debt for services and expenses rendered to the Company (the “Debt Settlement”). The debt was settled with 1,168,500 units issued at $0.10 per unit (the “Unit”). Each Unit consists of one common share and one share purchase warrant exercisable at $0.35 for a period of 2 years and an additional 400,000 common shares that were issued to an insider of the Company. Insider participation in was approximately 25% of the total Debt Settlement and is considered to be a related party transaction within the meaning of TSXV Policy 5.9 and Multilateral Instrument 61-101 ("MI 61-101"). The Company relied on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in Sections 5.5(b) and 5.7(1)(b) of MI 61-101 in respect of the Insider Participation.. The transaction was undertaken by the Company in order to conserve working capital.

The securities issued pursuant to the Debt Settlement were subject to a four-month hold period commencing on the date of issuance.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the release.

About Shiny Health & Wellness:

Shiny Health & Wellness Corp. is on a mission to help people never settle, live fully by being a trusted source for health and wellness solutions and services. The Company operates ShinyBud Cannabis Co., a well-established brand of adult-use dispensaries in Ontario strategically located in markets less saturated with cannabis retailers. Shiny Health trades on the TSX Venture Exchange (TSXV) under the ticker symbol SNYB. For more information, please visit.

Copyright (c) 2024 TheNewswire - All rights reserved.