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.