Saturday, August 2, 2025

Latest

SNDL To Acquire Remainder Of Nova Cannabis For $40 Million In Cash

SNDL Inc (NASDAQ: SNDL) this morning indicated it is digging in further to the recreational cannabis market in Canada with the purchase of the remainder of Nova Cannabis (TSX: NOVC).

The cannabis giant has agreed to acquire the remaining 34.8% of the cannabis retailer that it doesn’t yet own for roughly $40 million. Under the terms of the arrangement shareholders of Nova will receive $1.75 per share in the form of cash for each share held, which amounts to a 41.2% premium to the 20 day volume weighted average price of Nova.

Alternatively, shareholders can elect to receive 0.58 of a common share of SNDL for each share held of Nova in lieu of cash, which is subject to proration, with a maximum of 50% of consideration of the entire transaction to be paid in the form of shares.

READ: SNDL To Cut 106 Jobs As Part Of Restructuring Effort

“Today’s announcement by our Alberta-based corporations underscores our commitment to sustainable performance in Canadian cannabis. We are committed to building a consumer-centric model at scale, supported by SNDL’s robust shared service model, access to capital, and a well-developed cannabis retail pipeline,” commented Zach George, CEO of SNDL, on the transaction.

The acquisition of the cannabis retailer is expected to support the entire cannabis retail portfolio that has been assembled by SNDL by optimizing inventory management, expanding data programs, and enhance programming. The purchase is also expected to generate savings through streamlining of expenses associated with being a public company, and the optimization of general and administrative costs.

The transaction remains subject to shareholder approval, with a special meeting to approve the transaction slated to occur in early October, with the transaction expected to close by October 18.

SNDL last traded at $2.01 on the Nasdaq.


Information for this briefing was found via Sedar and the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Why Gold’s Bull Run May Just Be Getting Started! | Peter Grandich

Tariffs Spark New Race for Critical Metals | Rob McEwen

Antimony Resources: The Bald Hill Project

Recommended

Tsunami Warnings Spread As Largest Quake Since 2011 Hits Russia

Northern Superior Intersects 1.75 g/t Gold Over 65.0 Metres At Philibert

Related News

SNDL To Cut 106 Jobs As Part Of Restructuring Effort

SNDL Inc (NASDAQ: SNDL) is in the process of restructuring its operations, announcing this morning...

Tuesday, July 16, 2024, 09:11:29 AM

SNDL To Gain Exposure To US-Based Cannabis Assets Found Across Five States

SNDL (NASDAQ: SNDL) is set to acquire an indirect interest in US cannabis assets through...

Thursday, May 2, 2024, 09:26:42 AM

SNDL Reports Record Annual Revenue in 2024, But Still Posts An Operating Loss

SNDL (NASDAQ: SNDL) has reported its Q4 and full-year 2024 financial and operational results, reporting...

Tuesday, March 18, 2025, 11:29:00 AM

SNDL Expected To Close On Assets Of Indiva Following Stalking Horse Bid

Two months after the initiation of creditor protection, the assets of Indiva Limited have been...

Thursday, August 29, 2024, 08:32:01 AM

Nova Cannabis Reports Increased Revenue, Wider Losses As Sundial’s Alcanna Acquisition Gets Extended

Nova Cannabis (TSXV: NOVC) reported today its 2021 financial results, highlighting an annual revenue of $134.4...

Monday, March 21, 2022, 10:58:00 AM