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About SNDL Inc.
SNDL Inc. (Nasdaq: SNDL) is a leading private-sector liquor and cannabis retailer in Canada, recognized for its expansive retail network and vertically integrated operations. With retail banners such as Ace Liquor, Wine and Beyond, Liquor Depot, Value Buds, and Spiritleaf, SNDL operates hundreds of locations across the country, catering to diverse consumer preferences in the liquor and cannabis markets. The company’s liquor retail segment, which encompasses the sale of wines, beers, and spirits, generates the majority of its revenue, solidifying SNDL’s position as a dominant player in this sector.
In the cannabis retail space, SNDL is the largest private-sector operator in Canada by store count, with banners like Value Buds, Spiritleaf, Superette, and Firesale Cannabis. These stores focus on providing high-quality products at competitive prices, supported by data-driven insights that enhance customer experiences and optimize inventory management. SNDL’s cannabis operations extend beyond retail, encompassing premium indoor cultivation, innovative product development, and cost-efficient manufacturing. Its cannabis brand portfolio includes well-known names such as Top Leaf, Contraband, Palmetto, Bon Jak, and Vacay, offering a wide range of products from value to premium categories.
As a licensed cannabis producer, SNDL has embraced vertical integration to streamline its supply chain and reduce costs. The company’s advanced cultivation techniques and manufacturing facilities enable it to produce high-quality biomass and a diverse array of cannabis products, including edibles, concentrates, and inhalables. Recent acquisitions, such as Indiva Limited, have expanded SNDL’s footprint in the edibles market, adding renowned brands like Pearls by Grön and Bhang Chocolate to its portfolio.
In addition to its retail and production capabilities, SNDL operates a robust investment portfolio through strategic capital deployment in North American cannabis markets. This includes partnerships and joint ventures such as SunStream Bancorp, which focuses on acquiring and restructuring cannabis assets in the United States. These investments align with SNDL’s strategy to capitalize on emerging opportunities in the cannabis industry while maintaining regulatory compliance.
SNDL is committed to operational excellence and customer-centric innovation. Its recent organizational restructuring aims to enhance efficiency, reduce corporate overhead, and position the company for sustainable growth. By leveraging technology, data analytics, and its vertically integrated model, SNDL continues to strengthen its market position and deliver value to its stakeholders.
Headquartered in Calgary, Alberta, SNDL remains a key player in Canada’s liquor and cannabis industries, with a focus on quality, innovation, and customer satisfaction. Its diverse operations and strategic initiatives underscore its role as a leader in these dynamic markets.
SNDL reported record net revenue of $230.5 million for Q3 2022, a 1,501% increase year-over-year, driven by strong performance in liquor retail and cannabis retail. However, the company faced a net loss of $98.8 million, primarily due to non-cash charges including $86.5 million for impairments. Adjusted EBITDA surged to $18.3 million, up 169% from Q2 2022. With $988 million in cash and no debt, SNDL is positioned for growth, including acquisitions of The Valens Company and Superette to enhance its market presence.
SNDL has successfully completed the acquisition of the Zenabis Business as part of proceedings under the Companies' Creditors Arrangement Act in Canada. The acquisition includes a 380,000-square-foot indoor growing facility in Atholville, New Brunswick, capable of producing approximately 46,000 kilograms of dried cannabis and 15,000 kilograms for extraction annually. SNDL also acquired over 22 million grams of cannabis inventory, enhancing its international export capabilities. This strategic move aims to strengthen SNDL's market position and drive revenue growth through wholesale and branded product sales.
SNDL Inc. (Nasdaq: SNDL) will release its third quarter financial results for the period ending September 30, 2022, on November 14, 2022. Following the results, the company will host a conference call and webcast at 10:30 a.m. EDT (8:30 a.m. MDT) on the same day. SNDL is Canada's largest private-sector liquor and cannabis retailer, operating under various brands like Liquor Depot and Spiritleaf. The company focuses on strategic investments within the cannabis industry, maintaining a diverse portfolio of brands.
SNDL has successfully completed its first international export of approximately 167 kilograms of premium dried cannabis flower from Canada to Israel in partnership with IM Cannabis Corp. This export is part of a larger agreement to export a total of 1,000 kilograms for distribution in the Israeli medical cannabis market. SNDL aims to expand its international presence and increase revenue from cannabis operations. The collaboration with IMC is expected to enhance the supply chain and product quality in the emerging global cannabis markets.
SNDL has reached a Stalking Horse Agreement to acquire the assets of Superette, a Canadian cannabis retailer, during its CCAA Proceedings. The agreement includes the purchase of six retail locations in Toronto and Ottawa, along with certain intellectual property rights. This acquisition aims to stabilize Superette's operations and bolster SNDL's multi-banner retail strategy. SNDL will provide a total of $6.9 million in financing for Superette, which is crucial for liquidity amid the restructuring process. The Court's approval is pending in September 2022.
SNDL and Valens have entered into an agreement for SNDL to acquire all outstanding shares of Valens, creating a major vertically integrated cannabis platform in Canada. Valens shareholders will receive 0.3334 SNDL shares per Valens share, valuing the deal at approximately $138 million, with a 10% premium based on a recent price. The combined entity aims to leverage operational synergies, with an expected annual cost savings of over $10 million, and aims for a quick adaptation to consumer trends. The transaction is set to close in January 2023, pending shareholder and regulatory approvals.
SNDL Inc. reported record net revenue of $223.7 million for Q2 2022, marking a 2,344% increase from Q2 2021. Liquor retail generated $148.6 million, and cannabis retail brought in $63.5 million. Despite achieving a gross margin of $43.1 million, the company faced a net loss of $74.0 million, up 41% year-over-year. Adjusted EBITDA loss expanded to $25.9 million, impacted by fair value adjustments. With a strong liquidity position showing $900 million in cash and no debt, SNDL continues to pursue vertical integration in regulated products.
SNDL Inc. (Nasdaq: SNDL) will announce its second quarter financial results for the period ending June 30, 2022, after market close on August 12, 2022. A conference call and webcast to discuss these results will take place on August 15, 2022, at 8:30 a.m. EDT. SNDL, the largest private liquor and cannabis retailer in Canada, operates across four segments: Liquor Retail, Cannabis Retail, Cannabis Production, and Investments. The company will also provide details regarding its recent rebranding efforts during the call.
Sundial Growers Inc. (Nasdaq: SNDL) announced on July 25, 2022, that all resolutions put to common shareholders at the reconvened meeting were approved. Key decisions included fixing the number of directors at five, electing directors for the coming year, and appointing Marcum LLP as auditors. Notably, shareholders approved a name change to 'SNDL Inc.' and a share consolidation at a ratio of one post-consolidation share for every ten pre-consolidation shares, effective July 25, 2022. This move aims to maintain a minimum bid price of US$1.00 per share and avoid delisting risks.
Sundial Growers Inc. (Nasdaq: SNDL) has adjourned its 2022 annual and special meeting of shareholders to July 25, 2022, due to insufficient quorum, as only 12.95% of shares were represented. The required quorum is 25%. The board believes that all resolutions have sufficient support. Shareholders attending the adjourned meeting in person or by proxy will constitute a quorum. Previous proxy votes will be counted unless revoked. The record date for voting rights remains June 21, 2022.
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