Silo Wellness Cuts Public Float Percentage to 25% through Strategic Debt Conversions; New shares boost market cap to CAD$2.8M

Springfield, Oregon--(Newsfile Corp. - March 3, 2023) - Silo Wellness Inc. (CSE: SILO) (OTCQB: SILFF) (FSE: 3K7A), has reduced its public float percentage to 25.4% of outstanding shares, resulting in a current public float of 35,415,282 shares, according to a new report from the Company's transfer agent. This reduction was achieved through over $1M of debt conversions this week. The company's current share count is publicly available on the CSE website, which reports a total of 139,704,089 shares issued.

Silo Wellness closed at CAD$.02 on Friday, resulting in a market capitalization of CAD$2,794,082 on the CSE versus $709,977 the day before the new shares were reflected in the share count.

Meanwhile, the OTCQB listing service, where Silo is more thinly traded (under the SILFF ticker symbol) despite its substantial Oregon-based plans, closed at USD$0.0146 on Friday with a market cap of USD$2,039,680. Converting this to CAD using an exchange rate of 1.36, the OTC market cap stands at CAD$2,773,964, representing a difference of less than 1% compared to the CSE market cap. This underscores the compatibility of the two exchanges for price comparisons at this particular time.

"The reduction of debt and the reduction in the percentage of our public float is a strategic decision that we believe will benefit our company and our shareholders over the long-term," said Silo Wellness founder and CEO, Mike Arnold. "By limiting the number of shares available for trading on the market, we hope to create greater scarcity and demand for our stock, potentially leading to increased value for our shareholders."

While market capitalization is just one metric used to evaluate a company's financial performance, it is an important indicator that investors may use to assess the overall value of a company's stock. However, investors should exercise caution and conduct thorough research before making any investment decisions based solely on market capitalization values.

Silo Wellness remains committed to restructuring debt and advancing its business plans in Oregon and Jamaica.

Contact:
Mike Arnold, CEO
541-900-5871
IR at silo wellness dot com

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