- 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.
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