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Shiny Health & Wellness finishing Q2 with positive mindset, adding another woman to the board of directors

(CNW) Toronto — Shiny Health is closing Q2 in a positive direction as it has reduced corporate overhead during the quarter by nearly 60 per cent and maintains its gross margin position as one of the market-leading chains in Ontario.

Shiny Bud Inc. a subsidiary of Shiny Health, announces an asset purchase agreement with One Plant (Retail) Corp. (OP) that provides for the sale of two of their retail locations, Stoney Creek (a mīhī-branded cannabis retail store) and Rockland; with a proposed closing date of July 31, 2023, and only following OP’s receipt of their Alcohol Gaming Commission of Ontario (AGCO) approvals. The estimated total purchase price is CAD $1,200,000 subject to customary adjustments.

Corporate Update

Meris Kott has been appointed as a director to the board of Shiny Heath & Wellness Corp.; the company now has two women board Directors. Kott’s 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.

Kott is currently the CEO of Global Wellness Strategies Inc. (CSE: GWS) a wellness prospect generator with its’ focus on global wellness, psychedelics, mycology, hemp and CBD, healthcare-related target companies. 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. Kott has a degree in Economics from McGill University in Montreal.

“I am humbled to join the board with such esteemed directors. In my experiences, women approach fast-growing startup situations with a broad skillset. From my vantage point, Shiny Health has a diversified retail platform strategy with dispensaries and pharmacies, a formidable team with a proven QSR track record, a strong licensee program, plus new funding partners; Shiny Health & Wellness can be considered a dark horse in the cannabis sector.” — Meris Kott