SHINY HEALTH & WELLNESS ANNOUNCES TEMPORARY CLOSURE OF 5 STORES

TORONTO: May 16th 2024 – Shiny Health & Wellness Corp. (“ShinyHealth” or the “Company”) (TSXV: SNYB) today reports it has temporarily closed five of its retail cannabis stores effective immediately. The decision to suspend operations in these particular stores was driven by an ongoing evaluation of market conditions and financial performance, ensuring that the Company’s financial resources are allocated to the highest-performing areas.


Including these stores, Shiny Health has closed 8 stores and opened 1 licensee store since its most recently completed third quarter Management’s Discussion and Analysis at October 31, 2023.


The Company believes that despite the current closures, the customer experience in the remaining 11 corporate and 20 licensee stores will remain unaffected.

 Forward-Looking Information 

This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “intends”, or “believes”, or variations (including negative and grammatical variations) of such words and phrases or state that certain acts, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. 

These statements are based upon assumptions that are subject to significant risks and uncertainties, including risks regarding the cannabis industry, commodity prices, market conditions, general economic factors, management’s ability to manage and to operate the business, and explore and develop the projects, and the equity markets generally. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward-looking statements. Any number of factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although the Company believes that the expectations reflected in forward looking statements are reasonable, they can give no assurances that the expectations of any forward-looking statements will prove to be correct. Except as required by law, the Company disclaims any intention and assume no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise. 

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 this 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 www.shinyhealthandwellness.com. 

Contact Information:

Brad Kipp, Interim CEO

Investor Relations:

Phone: (888) 833-1260

Email: ir@snbycorp.com