Saturday, July 5, 2025

Latest

Sundial Growers Sees Alcanna Shareholders Approve Acquisition

Alcanna Inc (TSX: CLIQ) shareholders have approved the previously announced plan of arrangement with Sundial Growers (NASDAQ: SNDL). The company announced Friday evening after the close of markets that its shareholders had accepted the offer to be acquired by the cannabis operator.

The arrangement, which remains subject to one final regulatory approval, will see Alcanna shareholders receive 8.85 common shares of Sundial, as well as $1.50 in cash per each share of Alcanna held. The offer, which was revised at the 11th hour, presumably due to some behind-the-scenes negotiating, originally was set to consist of an all-share transaction.

With the cash component added to the mix, the transaction was approved with 90% of the votes cast being in favour of the transaction, handily meeting the two third majority required to proceed with the deal.

As a result of the transaction being modified just days before the vote was conducted, dissent rights related to the transaction have been extended through to January 14, should any shareholders that previously voted in favour of the transaction change their mind with the revised offer.

Assuming the final approvals are granted, the transaction is expected to close in the first quarter of 2022.

With the closing of the transaction, Sundial will also obtain a majority position in Nova Cannabis (TSX: NOVC), which is currently held by Alcanna.

Sundial Growers last traded at $0.60 on the Nasdaq.


Information for this briefing was found via Edgar 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

Torex Gold Acquires Reyna Silver For CASH!

Dundee Acquires Adriatic Metals: The Balkan Growth Strategy

Gold Drilling Scaled to 60,000 Meters: How Big Can This Get? | Roger Rosmus – Goliath Resources

Recommended

Antimony Resources Drills 4.17% Antimony Over 7.4 Metres At Bald Hill

ESGold To Expand Mine Building At Montauban In Advance Of Gold & Silver Production

Related News

Sundial Revenues Fall 36% To $12.9 Million, Reports Loss Of $71.4 Million In Q3

Sundial Growers (NASDAQ: SNDL) this evening reported its third quarter 2020 financial results, posting revenues...

Wednesday, November 11, 2020, 07:25:07 PM

Sundial Growers Closes Inner Spirit Acquisition Deal

Sundial Growers Inc. (Nasdaq: SNDL) completes the previously announced acquisition of all issued and outstanding...

Wednesday, July 21, 2021, 07:10:00 AM

Sundial: Canaccord Raises Price Target Following Q1 Results

Sundial Growers (NASDAQ: SNDL) reported its first-quarter results on May 11th after the bell. The...

Friday, May 14, 2021, 02:26:00 PM

Sundial Gets Second Extension On Credit Facility Waivers

That thread that Sundial Growers (NASDAQ: SNDL) is hanging on appears to be getting thinner....

Friday, May 1, 2020, 12:40:01 PM

Sundial Growers Issues Notice Of Default To Zenabis On Senior Secured Loan

Despite many Zenabis Global (TSX: ZENA) shareholders believing otherwise, it appears that the purchase of...

Wednesday, January 6, 2021, 07:40:43 AM