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 1,999,999.8 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.