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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 (NASDAQ: SNDL) announces the successful closing of a $22 million strategic investment in Indiva Limited. The investment consists of a brokered private placement of 25 million common shares at $0.44 each, generating $11 million, and a $11 million term loan facility maturing on February 23, 2024, at 9% interest. This move grants Sundial 18.45% ownership in Indiva, with rights to participate in future equity offerings. Indiva plans to use the funds to retire debt and for general corporate purposes. Completion is subject to TSX Venture Exchange approval.
Sundial Growers (NASDAQ: SNDL) announced holders of 98,333,334 warrants will exercise these for cash at US$0.80 and US$1.10, generating gross proceeds of US$89.1 million. In return, Sundial will issue new warrants allowing purchase of common shares at US$1.50, valid for 42 months. Additionally, the new warrants will be registered per SEC regulations. This transaction underscores Sundial's financial maneuvering to strengthen its capital position and improve share liquidity.
Sundial Growers has announced that it has regained compliance with Nasdaq's minimum bid price requirements, having maintained a closing bid price of US$1.00 or greater for at least ten consecutive business days. This confirmation from Nasdaq ensures that Sundial can continue its listing on the Nasdaq Capital Market. The company operates with a focus on quality cannabis production, utilizing advanced indoor facilities to cultivate small-batch cannabis. Sundial is headquartered in Calgary, Alberta, with operations in Olds and Rocky View County.
Sundial Growers has announced a strategic investment of $22 million into Indiva, comprising $11 million in a brokered private placement of common shares and a $11 million term loan facility. The investment aims to enhance Indiva's balance sheet and support growth in the cannabis edibles market. Following the transaction, Sundial will hold 18.45% of Indiva's common shares. Indiva plans to use the proceeds to retire debt and for working capital. The investment is expected to close on or about February 23, 2021.
Sundial Growers has announced a strategic investment of $22 million in Indiva Limited through a brokered private placement and a term loan. The placement involves purchasing 25 million common shares at $0.44 each, raising $11 million, alongside a $11 million term loan. This investment aims to improve Indiva's balance sheet and support growth in the cannabis edibles market. The investment, expected to close by February 23, 2021, positions Sundial to control 18.45% of Indiva's outstanding shares.
Sundial Growers announced the completion of a registered offering, raising approximately US$74.5 million. This offering consists of 60.5 million Series A Units and 14 million Series B Units, each priced at US$1.00. Following the offering, Sundial's unrestricted cash totals around US$610 million, supplemented by US$61 million in marketable securities and loans. The company has about 1.56 billion common shares outstanding. The exercise price for Series A Warrants is set at US$1.10 per share.
Sundial Growers has closed a registered offering of 100 million Series A Units and 33.3 million Series B Units, raising approximately US$100 million. Each Series A Unit consists of one common share and a half warrant for US$0.75 each. The company expects to close an additional offering of US$74.5 million. Post-offering, Sundial will have about US$615 million in unrestricted cash and US$57 million in marketable securities. CEO Zach George highlighted the strong liquidity position to explore consolidation opportunities in the cannabis sector.
Sundial Growers announced a registered offering of 60,500,000 Series A Units and 14,000,000 Series B Units, priced at US$1.00 each. The expected gross proceeds from this offering are approximately US$74.5 million, set to close on February 4, 2021. Each Series A Unit consists of one common share and one-half Series A Warrant, while Series B Units include a pre-funded Series B Warrant. With this offering, Sundial will fully utilize its shelf registration statement from January 25, 2021. Canaccord Genuity LLC is the book-running manager of the offering.
Sundial Growers (Nasdaq: SNDL) has announced a registered offering of 100 million Series A Units and 33,333,334 Series B Units, priced at US$0.75 each. The gross proceeds are expected to be approximately US$100 million, aimed at financing potential acquisitions, investments, and working capital. The offering is set to close on February 2, 2021. Each Series A Warrant will have an exercise price of US$0.80 and will be exercisable immediately. The offering will comply with SEC regulations.
The cannabis industry is projected to reach $40.6 billion in global licensed dispensary sales by 2024, with the US contributing approximately $30 billion. Recreational cannabis sales are expected to hit $26.7 billion and medical cannabis $13.9 billion. A focus on cannabis delivery services is emerging as a key growth area. NxGen Brands has acquired an exclusive license for tracking technologies to enhance its cannabis delivery app. Additionally, Sundial Growers launched new premium cannabis derivatives, while HEXO Corp's joint venture Truss CBD USA introduced a sparkling CBD beverage line in Colorado.
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