Progress Towards Building A Strong Canadian Brand
TORONTO, Nov. 6, 2023 – Shiny Health & Wellness Corp. (the “Company”) (TSXV: SNYB) announces today that the it has received approval from the TSX Venture Exchange (“TSXV“) to extend the closing of its previously announced non-brokered private placement financing of units (each, a “Unit“) at a price of $0.10 per Unit (the “Offering“) to December, 1, 2023. The Company closed a first tranche of the Offering on October 4, 2023 (the “First Tranche“) and anticipates that the second and final tranche closing will occur on or before December 1, 2023. 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“). Finder’s fees will be payable in accordance with the policies of the TSXV. The Unit Shares, Warrant Shares and any common shares of the Company that are issuable from any finder’s warrants 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.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.