(TSXV) SNYB

Shiny Health & Wellness Corporate Update

TORONTO: January 16th 2023 – Shiny Health & Wellness Corp. (the Company”) (TSXV: SNYB) announces changes to its previously announced non-brokered private placement and the return to treasury and cancellation of  450,000  Units. . 

On January 4th 2024, the Corporation announced the completion of a non-brokered private placement of Common Shares for aggregate gross proceeds of $225,000 (the “Private Placement”). Pursuant to the close of a Private Placement for Shiny Health & Wellness Corp. there was a creation of a new Control Person of the Company equal to 22.51% on a non-diluted basis of the issued and outstanding voting shares of the Company. 

The Company is in the process of returning a total of $45,000 to the shareholder through the cancelation of 450,000 Units. Each Unit consisting of one common share and one share purchase warrant. As a result of the cancelation of the Units the current shareholder will no longer be considered a Control Person.  

After the return to treasury and the refunding of the cash the Company confirms that it will have closed on a total aggregate $180,000 through the issuance of 1,800,000 Units. 

 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