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Sundial Growers Inc. (SNDL) is a leading private-sector liquor and cannabis retailer in Canada, with retail banners that include Ace Liquor, Wine and Beyond, Liquor Depot, Value Buds, and Spiritleaf. The company operates as a licensed cannabis producer based in Alberta, utilizing both traditional farming methods and modern horticultural techniques. SNDL focuses on consistency to provide a pure cannabis experience to its customers, targeting modern consumers who seek a natural alternative that complements their active lifestyles.
SNDL comprises four key segments: liquor retail, cannabis retail, cannabis operations, and investments. The liquor retail segment generates the maximum revenue for the company through the sale of wines, beers, and spirits across 171 stores. In cannabis retail, SNDL is the largest private-sector retailer in Canada, with 188 locations under various banners such as Value Buds, Spiritleaf, Superette, and Firesale Cannabis.
The cannabis operations segment emphasizes premium inhalable formats and offers a full suite of 2.0 products. This segment is integral to SNDL's vertical integration strategy, combining cost-effective cultivation and manufacturing with a diverse brand portfolio that includes Top Leaf, Contraband, Citizen Stash, Sundial Cannabis, Palmetto, Bon Jak, Versus Cannabis, and Vacay.
SNDL also maintains a robust investment portfolio to strategically deploy capital through direct and indirect investments and partnerships within the North American cannabis industry. Notable investments include the joint venture SunStream Bancorp Inc., which targets high-return opportunities in the cannabis sector.
Recent updates include the termination of a strategic partnership with Nova Cannabis Inc. and the subsequent extension of Nova's credit facility. The company has also reported strong financial results for the year ending December 31, 2023, including record-breaking revenue and gross profit. SNDL is committed to further expanding its retail network and product distribution, both in Canada and potentially in the U.S. market, as seen with its plans to acquire equity positions in U.S. cannabis assets through SunStream USA Group.
SNDL is publicly traded on the Nasdaq under the symbol 'SNDL'. For more information, visit www.sndl.com.
Sundial Growers Inc. (SNDL) announces its Annual General Meeting (AGM) on July 7, 2021, at 1 p.m. MDT, to be held virtually due to COVID-19. Shareholders must submit their voting proxies by July 5, 2021, at 1 p.m. MDT. The company emphasizes shareholder participation in governance, encouraging them to vote their shares. Only registered shareholders and proxyholders will be able to ask questions and vote in real time during the Meeting. Additional voting instructions are available on the company's website and other official platforms.
Sundial Growers (NASDAQ: SNDL) announced its Annual General Meeting (AGM) on July 7, 2021, at 1 p.m. MDT, to be held virtually due to COVID-19. Current Board members Greg Mills, Zach George, Gregory Turnbull, and Bryan Pinney are set for re-election. Lori Ell is nominated for election, bringing over 25 years of executive experience. Dr. Elizabeth Cannon will not stand for re-election. The AGM notice and related documents are available on SEDAR and EDGAR.
Sundial Growers (SNDL) reported its first-ever positive earnings from operations at $1.7 million for Q1 2021, compared to a loss of $32.7 million in Q4 2020. The company achieved an adjusted EBITDA of $3.3 million, reversing a previous loss. Despite a net loss of $134.4 million due to non-cash charges, Sundial maintains a strong cash position with $969.5 million in assets. Revenue fell 30% to $11.7 million, primarily affected by market conditions and COVID-19. The company is focusing on improving cultivation practices and has plans to acquire Inner Spirit Holdings.
Sundial Growers has announced an agreement to acquire Inner Spirit Holdings for approximately $131 million. Each Inner Spirit shareholder will receive $0.39 per share, inclusive of $0.30 in cash and 0.0835 Sundial shares. This represents a premium of 54.8% over Inner Spirit's 10-day VWAP. The transaction, supported by both boards, aims to enhance Sundial's market presence and synergies via Inner Spirit's Spiritleaf retail brand, which boasts 86 stores across Canada. Closing is expected in early Q3 2021, pending shareholder and regulatory approvals.
Sundial Growers Inc. announced it acquired over 10% of The Valens Company Inc. on May 3, 2021, purchasing 538,400 shares at $3.663 each for a total of $1.972 million. Following this acquisition, Sundial now holds 16,040,200 Common Shares of Valens, equating to approximately 10.1% of the total issued shares. Sundial's average cost for these shares is $2.670. The acquisition is part of Sundial's investment strategy, which may evolve based on market conditions. This announcement aligns with compliance requirements under Canadian securities law.
Sundial Growers (Nasdaq: SNDL) will release its first quarter financial results for the period ending March 31, 2021, after market close on May 11, 2021. The company will host a conference call and webcast on May 12, 2021 at 10:30 a.m. EST to discuss the results. Sundial operates in the cannabis sector with a focus on quality production through its modular growing approach across its facilities totaling 448,000 square feet. The company aims to deliver exceptional consumer experiences through its various brands, including Top Leaf and Sundial Cannabis.
Sundial Growers has elevated its investment in SunStream Bancorp from $100 million to $188 million. This joint venture aims to target enhanced risk-return opportunities in the cannabis sector, focusing on a special opportunities fund supported by both Sundial and SAF Group, alongside third-party investors. An update on third-party capital commitments is expected within the next 60 days.
Sundial Growers reported significant financial restructuring in 2020, eliminating $227 million in debt and maintaining $719 million in cash as of March 2021. Gross revenue rose 10% to $73.3 million, with net cannabis revenue for Q4 2020 at $13.9 million, up 8% from Q3. The company shifted focus to branded sales, achieving 75% of total cannabis sales. Despite cost reductions in operations, net loss for the year increased to $206.3 million. Sundial emphasized premium products and cultivation to meet consumer demands, while navigating industry challenges such as price compression and an oversupplied market.
Sundial Growers (SNDL) announced a 50/50 joint venture with SAF Opportunities LP, forming SunStream Bancorp. The venture aims to generate enhanced risk-return opportunities in the cannabis industry, focusing on both Canadian and international investments. Sundial commits $100 million to establish a special opportunities fund and plans for additional mandates, including a Canadian SPAC. CEO Zach George mentioned this partnership will help deliver shareholder value while leveraging SAF's investment expertise.
Sundial Growers (NASDAQ: SNDL) announced it will release its financial results for the full year and fourth quarter ending December 31, 2020, after market close on March 17, 2021. A conference call and webcast will follow on March 18, 2021, at 10:30 a.m. EST. Investors can access the live webcast and replay options through the provided links. Sundial operates licensed cannabis production in Canada, focusing on quality and consumer experience with its brands, including Top Leaf and Sundial Cannabis.
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