SNYB:CC - Shiny Health & Wellness Update

(TheNewswire)

TORONTO / TheNewswire : March 26, 2024 – Shiny Health & Wellness Corp. (the “ Company” ) ( TSXV: SNYB )a nnounces that pursuant to the Company’s previous press release it has settled anaggregate amount of $156,850 in accrued debt for services and expensesrendered to the Company (the “Debt Settlement”). The debt wassettled with 1,168,500 units  issued at $0.10 per unit (the“Unit”). Each Unit consists of one common share and one sharepurchase warrant exercisable at $0.35 for a period of 2 years and anadditional 400,000 common shares that were issued to an insider of theCompany.  Insider participation in was approximately 25% of the totalDebt Settlement and is considered to be a related party transactionwithin the meaning of TSXV Policy 5.9 and Multilateral Instrument61-101 ("MI 61-101").  The Company relied on the exemptionsfrom the valuation and minority shareholder approval requirements ofMI 61-101 contained in Sections 5.5(b) and 5.7(1)(b) of MI 61-101 inrespect of the Insider Participation.. The transaction was undertakenby the Company in order to conserve working capital.

The securities issued pursuant to the Debt Settlementwere subject to a four-month hold period commencing on the date ofissuance.

Neither the TSX Venture Exchange nor its RegulationServices Provider (as that term is defined in the policies of the TSXVenture Exchange) accepts responsibility for the adequacy or accuracyof the release.

About Shiny Health &Wellness:

Shiny Health & Wellness Corp. is on amission to help people never settle, live fully by being a trustedsource for health and wellness solutions and services. The Companyoperates ShinyBud Cannabis Co., a well-established brand of adult-usedispensaries in Ontario strategically located in markets lesssaturated with cannabis retailers.  Shiny Health trades on the TSXVenture Exchange (TSXV) under the ticker symbol SNYB. For moreinformation, please visit.

Copyright (c) 2024 TheNewswire - All rights reserved.