Shiny Health & Wellness Engages Capital Markets Advisor and Market Making Service Provider
TORONTO, Sept. 15, 2022 /CNW/ - Shiny Health & Wellness Corp. ("Shiny Health" or the "Company") (TSXV: SNYB) is pleased to announce that, subject to regulatory approval, it has retained INFOR Financial Inc. ("INFOR Financial") to provide capital markets advisory and market making services for the Company.
The Company has entered a services agreement (the "Agreement") with INFOR Financial, pursuant to which INFOR Financial has agreed to perform the following general capital markets support services:
- introduce the Company to capital market participants and institutional investors that may include investment funds, mutual funds, private capital sources and other potential strategic investors; and
- market making services, with the objective of maintaining active and orderly trading in the market and improving liquidity of the Company's common shares, undertaken by one of INFOR's proprietary traders in compliance with all applicable rules of the TSX Venture Exchange (TSXV) and the Investment Industry Regulatory Organization of Canada (IIROC), and all applicable laws.
For its services, INFOR Financial will be paid a monthly fee of $6,000 CAD, plus applicable tax. The Agreement may be terminated by either party on 30 days' notice, subject to a minimum six-month term following its commencement date on August 30, 2022. Shiny Health and INFOR Financial act at arm's length, and to the Company's knowledge INFOR Financial has no present interest, directly or indirectly, in the Company or its securities, but may acquire securities in the future in connection with additional capital market services that may be provided to Shiny Health. The funds and shares required for the market making service are provided by INFOR Financial. The fee payable by the Company to INFOR Financial is for services only.
INFOR Financial will be responsible for the costs it incurs in buying and selling the Company's shares, and no third party will be providing funds or securities for the market making activities. INFOR Financial and the Company are unrelated and unaffiliated entities, but INFOR Financial and/or its clients may have an interest, directly or indirectly, in the securities of the Company.
The Company currently intends to continue to retain Venture Liquidity Providers Inc. for its market making services, as previously announced on February 8, 2022, on a month-to-month basis.
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 across 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 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.
INFOR Financial Inc. is a leading Canadian independent investment bank, a registered investment dealer and a member of Investment Industry Regulatory Organization of Canada ("IIROC") and the TSX-V, among other stock exchanges.
SOURCE Shiny Health & Wellness Corp.
Kevin Reed, Chairman & CEO, P: +1 (647) 988-0371 | E: [email protected]; Investor Relations, P: 1-888-833-1260, E: [email protected]
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