Nova Cannabis (TSE:NOVC) has released an update.
Nova Cannabis shareholders have overwhelmingly approved a plan of arrangement with SNDL Inc., which will result in SNDL acquiring all Nova shares not already owned by it or its affiliates. The deal, approved by 99.95% of the votes, offers shareholders either $1.75 in cash or 0.58 of an SNDL share per Nova share. The arrangement is expected to close around October 18, 2024, leading to the delisting of Nova from the TSX.
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