SNDL to Acquire Remaining Minority Interest of Nova Cannabis
SNDL and Nova Execute Arrangement Agreement with Key Shareholder Support
CALGARY, AB, Aug. 13, 2024 /PRNewswire/ – SNDL Inc. (Nasdaq: SNDL) (“SNDL“) and Nova Cannabis Inc. (TSX:NOVC) (“Nova“) are pleased to announce that they have entered into an arrangement agreement (the “Agreement“) pursuant to which SNDL will acquire all of the issued and outstanding common shares in the capital of Nova (“Nova Shares“) not already owned by SNDL, representing approximately 34.8% of Nova Shares, by way of a statutory plan of arrangement (the “Transaction“) for aggregate consideration of approximately $40 million (the “Consideration“). All financial information in this press release is reported in Canadian dollars unless otherwise indicated.