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.