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Shiny Health & Wellness to purchase Stash & Co. stores

Jocelyn Aspa Jocelyn Aspa, The Market Online
0 Comments| December 15, 2023

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  • Shiny Health & Wellness (TSXV:SNYB) has signed a purchase agreement with Karan. S. Holla for the Stash & Co. chain of cannabis stores in Ontario
  • The letter of intent was signed on Oct. 27, which will also add a forecasted revenue of approximately C$10 million
  • The Stash & Co. brand and trademark as well as the dispensaries will remain the same
  • Shares of Shiny Health & Wellness are unchanged at C$0.075

Shiny Health & Wellness (TSXV:SNYB) has signed a purchase agreement with Karan S. Holla for the Stash & Co. chain of cannabis stores in Ontario.

In a news release, the Toronto-based cannabis company said the purchase includes 10 stores in the province that have a forecasted revenue of C$10 million.

The letter of intent, which was announced back in October, will assist in expanding Shiny Health & Wellness’ footoprint in Ontario and beyond to the U.S. and Europe.

“We are excited to add a strong, above-average revenue producing cannabis dispensary group to our Ontario platform,” Meris Kott, CEO of Shiny Health & Wellness, said in a statement. “Increasing our loyalist program and reaching more consumers is key to our success as we build our retail reach.”

As part of the agreement the dispensaries will remain Stash & CO, which is an award-winning brand with stores across Ontario in Toronto, Ottawa, London, Kitchener, Oshawa and Colllingwood.

Shiny Health & Wellness said the Stash & Co. brand will be added to its ShinyBud and Budget Bud cannabis consumer program to reach more than 100,000 customers.

In addition to the Stash & Co. brand, Shiny Health & Wellness has also purchased its first pharmacy in Cornwall to extend its reach beyond the adult-use cannabis market.

Shares of Shiny Health & Wellness are unchanged at C$0.075.

Join the discussion: Find out what everybody’s saying about this stock on the Shiny Health & Wellness Bullboard, and check out the rest of Stockhouse’s stock forums and message boards.

The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.




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