SNDL Announces $40 Million Acquisition of Nova Cannabis

SNDL (SNDL) has released an update.

SNDL Inc. has announced a definitive agreement to acquire Nova Cannabis Inc. through a plan of arrangement valued at approximately $40 million, offering Nova shareholders $1.75 in cash per share or the alternative of 0.58 SNDL shares, subject to certain conditions. The acquisition is slated for completion in October 2024 and would result in Nova becoming a wholly owned subsidiary of SNDL. Key conditions include approval by Nova shareholders, regulatory approvals, and the absence of any material adverse judgments or orders.

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