TORONTO, Feb. 8, 2022 /CNW/ – ShinyBud Corp. (“ShinyBud” or the “Company”) (TSXV: SNYB) is pleased to announce that, subject to regulatory approval, it has retained Venture Liquidity Providers Inc. (“VLP”) to engage its market making services, and Hybrid Financial Ltd. (“Hybrid”) to provide marketing services for the Company.
Market Making Services
The Company has entered a market making agreement (the “Market Maker Agreement”) with VLP with the objective of maintaining an orderly trading market and improving liquidity of the Company’s common shares. The market making service will be undertaken by VLP through a registered broker, W.D. Latimer Co. Ltd., in compliance with the applicable policies of the TSX Venture Exchange (the “TSXV”) and other applicable laws. For its services, VLP will be paid a monthly fee of $5,000 CAD, plus applicable tax, for a period of three months. Following the initial term, this Market Maker Agreement will automatically renew for a successive additional one-month term. The Market Maker Agreement may be terminated at any time by ShinyBud or VLP. ShinyBud and VLP act at arm’s length, and VLP has no present interest, directly or indirectly, in the Company or its securities. The finances and the shares required for the market making service are provided by W.D. Latimer. The fee paid by the Company to VLP is for services only.
The Company has also entered a marketing agreement (the “Marketing Agreement”) with Hybrid to heighten market and brand awareness for ShinyBud and to broaden the Company’s reach within the investment community, in compliance with the applicable policies of the TSXV and other applicable laws. Hybrid has been engaged by ShinyBud for an initial term of six months starting February 1, 2022 and then shall be renewed automatically for successive three-month terms thereafter, unless terminated by the Company in accordance with the Marketing Agreement. Hybrid will be paid a monthly fee of $15,000 CAD, plus applicable tax, during the initial term.
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.
ShinyBud Corp. is a multi-banner cannabis retailer with over 35 corporate and licensed stores across Ontario – Canada’s largest cannabis market. As one of Ontario’s fastest growing retailers in the sector, the Company is on a mission to help people never settle, live fully by offering a wide range of carefully curated cannabis products and by creating a more diverse and accessible cannabis experience for adult consumers. ShinyBud’s board and management team has extensive retail operating experience, a key competitive differentiator in leading its growth strategy and franchising program. ShinyBud trades on the TSX Venture Exchange (TSXV) under the ticker symbol SNYB. For more information, please visit www.shinybud.com.
About Venture Liquidity Providers
VLP is a specialized consulting firm based in Toronto providing a variety of services focused on TSX-V-listed issuers. VLP’s exclusive Market Making Service is provided by W.D. Latimer Co.
About Hybrid Financial
Hybrid is a sales and distribution company that actively connects issuers to the investment community across North America. Using a data driven approach, Hybrid provides its clients with comprehensive coverage of both American and Canadian markets. Hybrid Financial has offices in Toronto and Montreal.
Cautionary Statement Regarding Forward-Looking Information
This news release contains “forward-looking information” within the meaning of Canadian securities legislation. Forward-looking information generally refers to information about an issuer’s business, capital, or operations that is prospective in nature, and includes future-oriented financial information about the issuer’s prospective financial performance or financial position. The Company has made certain material assumptions to develop the forward-looking information in this news release, including but not limited to: prevailing market conditions; general business, economic, competitive, political and social uncertainties; delay or failure to receive any required board, shareholder or regulatory approvals; and the ability of ShinyBud to execute and achieve its business objectives. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in the forward-looking information. Accordingly, readers should not place undue reliance on forward-looking information. Actual results may vary from the forward-looking information in this news release due to certain material risk factors. These risk factors include, but are not limited to: adverse market conditions; reliance on key and qualified personnel; regulatory and other risks associated with the cannabis industry in general, as well as those risk factors discussed or referred to in disclosure documents filed by the Company with the securities regulatory authorities in certain provinces of Canada and available at www.sedar.com. The foregoing list of material risk factors and assumptions is not exhaustive. Should any factor affect the Company in an unexpected manner, or should assumptions underlying the forward-looking information prove incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-looking information is expressly qualified in its entirety by this cautionary statement. Moreover, the Company does not assume responsibility for the accuracy or completeness of such forward-looking information. The forward-looking information included in this news release is made as of the date of this news release and the Company undertakes no obligation to publicly update or revise any forward-looking information, other than as required by applicable law.
SOURCE ShinyBud Corp.