Shiny Health & Wellness Closes Private Placement 

Progress Towards Building A Strong Canadian Brand 

TORONTO: January 4th 2024 – Shiny Health & Wellness Corp. (the “Company”) (TSXV: SNYB) announces the closing of its previously announced non-brokered private placement. 

The financing consisted of units (each, a “Unit”) at a price of $0.10 per Unit (the “Offering”). The Company closed a first tranche of the Offering on October 4, 2023 (the “First Tranche”) and does not anticipate any more proceeds from this offering. For more information on the Offering and the First Tranche, please see the Company’s press release dated October 4, 2023. The Company intends to use the net proceeds of the Offering for general working capital requirements, including to advance the Company’s cannabis line of business performance by increasing store inventory, new store build-outs, plus acquisitions. 

The closing of the Offering is subject to receipt of all necessary regulatory approvals including the TSX Venture Exchange (the “TSXV“). No Finder’s fees will be paid in conjunction with the offering. The Unit Shares and Warrant Shares will be subject to a hold period of four months and one day following the closing date of the Offering in accordance with applicable securities laws. 

The Company also announces it has agreed to settle an aggregate amount up to $200,000 for services and expenses rendered to the Company (the “Debt Settlement”) to be settled by the issuance of units, at a deemed price of .10 per unit with a .35 warrant. The transaction is being undertaken by the Company in order to conserve working capital. The securities issued pursuant to the Debt Settlement will be subject to a four-month hold period commencing on the date of issuance. Completion of the Debt Settlement is subject to acceptance by the TSX Venture Exchange. 

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. 

 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