Sundial Growers Closes Inner Spirit Acquisition Deal

Sundial Growers Inc. (Nasdaq: SNDL) completes the previously announced acquisition of all issued and outstanding common shares of Inner Spirit Holdings Ltd. (CSE: ISH).

Under the terms of the acquisition, Inner Spirit shareholders will get $0.30 in cash and 0.0835 Sundial Grower common share for each share held. The company previously estimated the acquisition’s tag price at $131.0 million or $0.39 per Inner Spirit share.

The transaction expands the Alberta-based cannabis firm’s footprint in the country as it acquires Inner Spirit’s Spiritleaf retail network of more than 100 stores.

Following the acquisition, it is expected that Inner Spirit’s shares will be delisted from the Canadian Securities Exchange today.

Sundial Growers last traded at US$0.84 on the Nasdaq while Inner Spirit last traded at $0.38 on the CSE.


Information for this briefing was found via Sedar and the companies 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

Premier American Uranium: The Roll Up Strategy Targets Nuclear Fuels

Santacruz Silver Q1 Earnings: Steady As She Goes

Silver Set to Hit 70:1 Against Gold This Year? | David Morgan

Recommended

Goliath Resources Expands 2025 Drill Program To 60,000 Metres

Emerita Resources Formally Appeals Administrative Ruling On Aznalcóllar Related To 2017 Complaint 

Related News

Sundial Growers Reports $56.1 Million In Revenue, $230.2 Million Net Loss In 2021

After a series of delays, Sundial Growers Inc. (Nasdaq: SNDL) finally reported late on Wednesday...

Thursday, April 28, 2022, 10:46:00 AM

Sundial Raises US$89.1 Million From Warrant Exercise, Issues 98.3 Million New Warrants

Sundial Growers (NASDAQ: SNDL) this morning released a brief release, announcing that the company has...

Friday, February 19, 2021, 09:32:43 AM

Sundial Growers Expected To Post $13.88 Million In Q1 2021 Revenues

Sundial Growers Inc. (NASDAQ: SNDL) announced that they will be reporting their first quarter financials...

Tuesday, May 11, 2021, 02:11:00 PM

Sundial Growers Enters Agreement To Manufacture Licensed Concentrates, Sell Rocky View Facility

Sundial Growers (NASDAQ: SNDL) this morning announced that it has entered into a non-binding agreement...

Monday, December 28, 2020, 09:19:29 AM

Sundial Growers Announces US$74.5 Million Financing Days After Raising US$100.0 Million

Sundial Growers (NASDAQ: SNDL) is certainly taking advantage of its frothy market, this morning announcing...

Tuesday, February 2, 2021, 07:46:43 AM