Board Change • Apr 23
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. Independent Director Lyn Christensen is the most experienced director on the board, commencing their role in 2022. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Board Change • Apr 08
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. Independent Director Lyn Christensen is the most experienced director on the board, commencing their role in 2022. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. New Risk • Mar 28
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 60% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$256k free cash flow). Negative equity (-CA$5.1m). Earnings have declined by 63% per year over the past 5 years. Shareholders have been substantially diluted in the past year (60% increase in shares outstanding). Market cap is less than US$10m (CA$1.11m market cap, or US$820.8k). Reported Earnings • Dec 29
Third quarter 2024 earnings released: CA$0.50 loss per share (vs CA$0.17 loss in 3Q 2023) Third quarter 2024 results: CA$0.50 loss per share (further deteriorated from CA$0.17 loss in 3Q 2023). Revenue: CA$4.28m (down 43% from 3Q 2023). Net loss: CA$5.96m (loss widened 240% from 3Q 2023). Board Change • Dec 02
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. Independent Director Lyn Christensen is the most experienced director on the board, commencing their role in 2022. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Announcement • Nov 15
Shiny Health & Wellness Corp. Appoints Jonathan Hemi to its Board of Directors Shiny Health & Wellness Corp. appointed Toronto Executive Jonathan Hemi to the Board of Directors. Jonathan is strategic, entrepreneurial and has a proven track record of successfully running small and medium sized businesses, and building their brands globally. He is currently the managing partner at Globefill Inc., founder and owner of Signal Hill Spirits Inc. and owner of several businesses. With 28 years in the beverage alcohol industry Jonathan is currently responsible for the manufacturing, brand building and global distribution of several alcohol beverage brands. Announcement • Oct 29
Shiny Health & Wellness Corp. (TSXV:SNYB) signs a letter of intent to acquire 10 adult use cannabis retail stores of Stash & Co. for CAD 1 million. Shiny Health & Wellness Corp. (TSXV:SNYB) signs a letter of intent to acquire 10 adult use cannabis retail stores of Stash & Co. for CAD 1 million on October 27, 2023. Aggregate purchase price equal to CAD 1,000,000; CAD 800,000 in cash and CAD 200,000 in common shares in the capital of SNYB. As part of this transaction SNYB will be the sole owner of the Stash & Co. brand and trademark and the dispensaries will not be rebranded and remain Stash and Co. Stash & Co. Stash & Co. will have the option, exercisable within 90 days after the closing date, for Karan Someshwar Holla to have a directorship on the board of directors of SNYB., subject to approval by the TSXV. All current Stash & Co. customer-facing retail employees will continue providing services and will join SNYB. The purchase transaction is subject to customary AGCO approvals. The Company and SC have agreed to a 30-day due diligence period to review pertinent information to consummate the purchase, plus a 90-day exclusivity period until such time that they sign a definitive transaction agreement for the acquisition. Announcement • Oct 05
Shiny Health & Wellness Corp. announced that it expects to receive CAD 0.5 million in funding Shiny Health & Wellness Corp. announced a non-brokered private placement to issue 5,000,000 at an issue price of CAD 0.10 for the gross proceeds of CAD 500,000 on October 4, 2023. Each Unit will consist of one common share and one common share purchase warrant. Each Warrant will entitle the holder thereof to purchase one common share of the Company at a price of CAD 0.35 at any time on or before the date which is 24 months following the closing of the Offering. The closing of the Offering is subject to receipt of all necessary regulatory approvals including the TSX Venture Exchange. 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. The company may pay 7% in Cash or Shares may be payable to eligible finders on all or a portion of the offering. The Finder may also receive Finder's warrants entitling it to purchase up to 7% of the shares issued to the purchaser introduced by the Finder under the Offering exercisable at the issue price of CAD ).35 for a period of 24 months from the Closing Date.
On the same date, the company announced that it has issued 2,250,000 units at an issue price of CAD 0.10 for the gross proceeds of CAD 225,000 in the first tranche. There is no finders fee to be paid on this first tranche. Closing of the First tranche of the Offering is subject to receipt of all necessary regulatory approvals including acceptance of the TSX Venture Exchange. Reported Earnings • Oct 01
Second quarter 2024 earnings released: CA$0.20 loss per share (vs CA$0.03 loss in 2Q 2023) Second quarter 2024 results: CA$0.20 loss per share (further deteriorated from CA$0.03 loss in 2Q 2023). Revenue: CA$6.21m (down 20% from 2Q 2023). Net loss: CA$2.11m (loss widened CA$1.79m from 2Q 2023). Announcement • Sep 22
Shiny Health & Wellness Corp. Announces Resignation of Micah Dass as Director Shiny Health & Wellness Corp. announced that Micah Dass has notified the Company that he must resign as a Director due to personal reasons with immediate effect. New Risk • Aug 03
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 13% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Earnings have declined by 71% per year over the past 5 years. Market cap is less than US$10m (CA$4.69m market cap, or US$3.51m). Minor Risk Shareholders have been diluted in the past year (13% increase in shares outstanding). Announcement • Jul 11
Shiny Health & Wellness Corp. Appoints Meris Kott as Director to the Board Shiny Health & Wellness Corp. announced that Meris Kott has been appointed as a Director to the board of the company. The company now has 2 women board Directors. Meris' background for over 30 years has been in investment banking and financial consultancy and she has always been one of the very few women in the C-suite of each project. Meris is currently the CEO of Global Wellness Strategies Inc. She is a speaker at conferences focused in the wellness, cannabis and psychedelic sectors. She supports women in business and mentors young women to strive for executive and board positions whenever possible. Meris has a degree in Economics from McGill University in Montreal. Announcement • Jul 07
Shiny Health & Wellness Corp. announced that it expects to receive CAD 2 million in funding Shiny Health & Wellness Corp. announced a non-brokered private placement of up to 4,444,444 units at a price of CAD 0.45 per unit for aggregate gross proceeds of up to CAD 2 million on July 6, 2023. Each unit will be comprised of one common share and one common share purchase warrant . Each warrant shall entitle the holder thereof to acquire one common share, to be issued at a price of CAD 1 until the date that is 24 months following the closing date of the offering. The warrants will be subject to accelerated expiry terms following the four-month and a day hold period. If the company's shares trade at or above CAD 1.25 per share for 10 consecutive trading days in which the Company will have the right to accelerate the exercise period to a period ending at least 30 days from the date that notice of such acceleration is provided to the holders of the warrants. The company may pay finder's fees of 7% in cash or shares payable to eligible finders on all or a portion of the offering and the finder will also receive finder's warrants entitling it to purchase up to 7% of the shares issued to the purchaser. The transaction is subject to the approval of the TSX Venture Exchange. Board Change • Jul 06
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. Co-Founder & Executive Vice Chairman Mike Dass is the most experienced director on the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Board Change • Jun 02
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. Co-Founder & Independent Director Mike Dass is the most experienced director on the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • Jan 13
Shiny Health & Wellness Corp. announced that it expects to receive CAD 1.4976 million in funding Shiny Health & Wellness Corp. announced a non-brokered private placement of up to 1,040,000 units of the company at a price of CAD 1.44 per unit for aggregate gross proceeds of up to CAD 1,500,000 on January 12, 2023. Each unit will consist of one common share of the company and one common share purchase warrant. Each warrant will entitle the holder thereof to purchase one common share at a price of CAD 2.16 for a period of 60 months from the date of issuance. The minimum investment amount per subscriber under the offering will be CAD 5,000. The offering is subject to acceptance by the TSX Venture Exchange, and may thereafter be closed in one or more tranches as subscriptions are received and accepted by the company, in its discretion. The company currently anticipates an initial closing on or about February 1, 2022. All common shares and warrants issued pursuant to the offering, will be subject to a hold period of four months plus a day from their date of issuance. Directors and officers have indicated that they will invest an aggregate of approximately CAD 200,000 in the offering. The company may pay finder's fees payable in cash, common shares and/or non-transferable warrants to purchase common shares based on the number of units sold under the offering pursuant to subscriptions attributable to the finder. Announcement • Dec 24
Shiny Health & Wellness Corp. Announces Resignation of Richard Espinos as Director Shiny Health & Wellness Corp. announced that effective December 31, 2022, Richard Espinos, co-founder and director, will be resigning from the Board of Directors to focus on his expanding professional commitments. Richard will remain available to the Board and management team for ongoing strategic guidance. Announcement • Dec 23
Shiny Health & Wellness Corp. Reports Impairment for the Third Quarter Ended October 31, 2022 Shiny Health & Wellness Corp. reported impairment for the third quarter ended October 31, 2022. For the quarter, the company reported impairment of $433,654 compared to $135,505. Announcement • Dec 21
Shiny Health & Wellness Corp. to Report Q3, 2023 Results on Dec 22, 2022 Shiny Health & Wellness Corp. announced that they will report Q3, 2023 results After-Market on Dec 22, 2022 Board Change • Nov 16
High number of new and inexperienced directors There are 7 new directors who have joined the board in the last 3 years. The company's board is composed of: 7 new directors. No experienced directors. No highly experienced directors. Co-Founder & Independent Director Richard Espinos is the most experienced director on the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Sep 30
Second quarter 2023 earnings released Second quarter 2023 results: CA$0.03 loss per share. Revenue: CA$7.74m (up 35% from 2Q 2022). Net loss: CA$316.8k (loss widened 65% from 2Q 2022). Announcement • Sep 29
Shiny Health & Wellness Corp. to Report Q2, 2023 Results on Sep 29, 2022 Shiny Health & Wellness Corp. announced that they will report Q2, 2023 results at 4:00 PM, US Eastern Standard Time on Sep 29, 2022 Announcement • Jun 30
ShinyBud Corp. to Report Q1, 2023 Results on Jun 29, 2022 ShinyBud Corp. announced that they will report Q1, 2023 results After-Market on Jun 29, 2022 Board Change • Jun 16
High number of new and inexperienced directors There are 7 new directors who have joined the board in the last 3 years. The company's board is composed of: 7 new directors. No experienced directors. No highly experienced directors. Co-Founder & Independent Director Richard Espinos is the most experienced director on the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Jun 02
Full year 2022 earnings released: CA$0.79 loss per share (vs CA$0.14 profit in FY 2021) Full year 2022 results: CA$0.79 loss per share (down from CA$0.14 profit in FY 2021). Revenue: CA$20.6m (up 95% from FY 2021). Net loss: CA$5.79m (down CA$6.84m from profit in FY 2021). Announcement • May 25
ShinyBud Corp. to Report Q4, 2022 Results on May 30, 2022 ShinyBud Corp. announced that they will report Q4, 2022 results at 6:00 AM, US Eastern Standard Time on May 30, 2022 Announcement • May 18
ShinyBud Corp. (TSXV:SNYB) signed a binding letter of intent to acquire Cotton Mill Pharmacy, Inc for CAD 0.9 million. ShinyBud Corp. (TSXV:SNYB) signed a binding letter of intent to acquire Cotton Mill Pharmacy, Inc for CAD 0.9 million on May 13, 2022. The purchase price of CAD 0.9 million is at 4.6x EBITDA, subject to standard working capital adjustments at closing. Subject to completion of the Cotton Mill acquisition, Andrew Hanna, the lead pharmacist and co-owner of Cotton Mill, will join mihi Health & Wellness as the Vice President of Pharmacy Operations & Compounding. ShinyBud has retained VanThom Consulting to assist the Company in expanding the acquisition pipeline, provide operational and integration support.
To finance the acquisition, the Company has received a term sheet for a CAD 0.7 million secured acquisition 10-year term loan (the "Acquisition Loan") from Caisse Desjardins Ontario Credit Union Inc., on behalf of its participating caisses, at an interest rate of 5.5% using today's pricing to be adjusted to the prevailing equivalent rate at close. Closing of the Acquisition Loan is conditional upon confirmatory due diligence and definitive documentation. A portion of the Purchase Price will also be paid through a one-year vendor take-back loan of CAD 0.1 million at an annual rate of 4.0% interest. The Company expects to pay the balance of the Purchase Price from cash on hand. There is no debt being acquired in the entity being purchased, only new debt of CAD 0.7 million being undertaken by the Company as part of the transaction financing.
Completion of the Cotton Mill acquisition is subject to satisfaction of a number of customary conditions to closing, including definitive documentation, closing of the Acquisition Loan, and regulatory approvals. This is an arm's length transaction. Valuation Update With 7 Day Price Move • May 11
Investor sentiment deteriorated over the past week After last week's 18% share price decline to CA$2.50, the stock trades at a trailing P/E ratio of 46.2x. Average trailing P/E is 8x in the Specialty Retail industry in Canada. Announcement • May 07
ShinyBud Corp., Annual General Meeting, Jul 15, 2022 ShinyBud Corp., Annual General Meeting, Jul 15, 2022. Valuation Update With 7 Day Price Move • Feb 19
Investor sentiment deteriorated over the past week After last week's 16% share price decline to CA$4.00, the stock trades at a trailing P/E ratio of 73.9x. Average trailing P/E is 19x in the Consumer Retailing industry in Canada. Buying Opportunity • Feb 15
Now 21% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be CA$5.80, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 150% over the last year. 
