SNDL Completes Acquisition of Nova Cannabis

SNDL (SNDL) has released an update.

SNDL Inc. has successfully acquired all common shares of Nova Cannabis Inc., as part of a strategic plan of arrangement. Shareholders of Nova were offered either $1.75 in cash or 0.58 shares of SNDL for each share they held, resulting in a total payout of $37.3 million in cash and nearly 160,000 shares. Following the acquisition, Nova’s shares have been delisted from the Toronto Stock Exchange.

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