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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Shiny Health and Wellness Corp | TSXV:SNYB | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.035 | 0.04 | 0.07 | 0 | 01:00:00 |
Turbo Holdings Partnership Closes
Progress Towards Building A Strong Canadian Brand
TORONTO, Sept. 29, 2023 /CNW/ - Shiny Health & Wellness Corp. (the "Company") (TSXV: SNYB) is pleased to release its second quarter fiscal year 2024 financial results for the three months ended July 31, 2023 (the "second quarter") and announce the closing of the Turbo Holdings partnership. The full results are available on https://www.sedarplus.ca
"We would like to welcome Team Turbo, Lloyd, Jarred, Luis and Serge to the ShinyBud Family, increasing our licensees to 16 with 3 more signees on the way. It has been a slower than usual quarter for us; strategically shifting our corporate offices to Kitchener and focusing on acquisition targets that mesh with our current corporate stores, all while fielding inquiries for new licensees from current smaller stores looking to join our partner program and new applicants. We are still building after our first year and a half experiencing typical growing pains. We are very proud to have over 43,000 loyalists increasing each month. We appreciate all the support of our shareholders and customers." Said Michael Nadeau, CEO.
The Company is proud to announce the closing today of the previously announced Asset Purchase Agreement of May 29th 2023 with an affiliate of Turbo Holdings Canada Inc. combined with a NEW Trademark License Agreement for the sale of two of Shiny Health's retail locations for an estimated total purchase price of $800,000. Under the Trademark License Agreement, the affiliate of Turbo Holdings will be granted the right to operate the stores under the "ShinyBud" trademark. Turbo Holdings has received their Alcohol Gaming Commission of Ontario ("AGCO") approvals and the adult use dispensaries are open for business. The Company has applied a portion of the proceeds to debt repayment.
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.
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 recently broadened its retail growth strategy beyond adult-use cannabis by establishing mīhī Health & Wellness, a new line of business focused on building a network of community pharmacies, with its first pharmacy in Cornwall, Ontario. Striving to provide a more diverse and accessible cannabis experience for adult consumers, the Company also operates ShinyBud Cannabis Co., a well-established brand in Ontario strategically located in markets less saturated with cannabis retailers. The Company's board of directors and management team hold extensive retail operating experience, a key competitive differentiator in leading its growth strategy. Shiny Health trades on the TSX Venture Exchange (TSXV) under the ticker symbol SNYB. For more information, please visit www.shinyhealthandwellness.com.
SOURCE Shiny Health & Wellness Corp.
Copyright 2023 Canada NewsWire
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