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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. (Nasdaq: SNDL) will release its year-end and fourth quarter financial results for the period ending December 31, 2021, on March 29, 2022, after market close. A conference call and webcast will follow on March 30, 2022, at 10:30 a.m. EST. Sundial operates in three segments: Cannabis Operations, Cannabis Retail (soon to include liquor), and Investment Operations. The company is known for its craft cannabis production and retail experience through its Spiritleaf brand, aiming to provide quality cannabis products.
Sundial Growers announced an extension of the closing date for its arrangement agreement with Alcanna Inc. to March 30, 2022. This extension allows both companies to complete necessary processes associated with the agreement originally dated October 7, 2021, and amended on January 6, 2022. Sundial emphasizes its commitment to executing this transaction, which is part of its broader strategy across three operational sectors: Cannabis Operations, Cannabis Retail, and Investment Operations. Sundial operates several cannabis brands and the Spiritleaf retail chain.
Sundial Growers has received a 180-day extension from Nasdaq to regain compliance with its minimum bid price requirement. Originally notified on August 9, 2021, Sundial was required to achieve a bid price of at least $1.00 per share by February 7, 2022. The new deadline is August 8, 2022, with the company needing to maintain the required share price for 10 consecutive trading days. Sundial is prepared to take steps, including a potential reverse stock split, to meet this requirement.
Sundial Growers (NASDAQ: SNDL) announced that its affiliate, Sunstream Opportunities LP, received a BBB+ investment grade credit rating from Egan-Jones Ratings Company. This rating reflects Sunstream's robust credit portfolio, which includes over CAD$375 million in investments. Zach George, CEO of Sundial, highlighted this achievement as a testament to the company's strong performance. Egan-Jones is a recognized credit rating provider, though a securities rating may be subject to revision. Sundial operates in cannabis production, retail, and investment sectors, focusing on premium cannabis products and strategic capital deployment.
Sundial Growers (NASDAQ: SNDL) and Alcanna (TSX: CLIQ) have amended their previous Arrangement Agreement to enhance shareholder consideration. Alcanna shareholders will now receive 8.85 Sundial shares and $1.50 in cash for each Alcanna share, increasing the total value to approximately $8.43 per Alcanna share, representing a 15.3% premium on the January 5 closing price. A special meeting for Alcanna shareholders is scheduled for January 7, 2022, to approve the revised arrangement.
Sundial Growers Inc. (NASDAQ: SNDL) reaffirmed its commitment to the planned arrangement with Alcanna Inc. (TSX: CLIQ) announced on October 7, 2021. Alcanna shareholders will receive 10.69 Sundial shares for each Alcanna share, reflecting a value of approximately $8.08 per Alcanna share, an 11% premium as of December 7, 2021. The plan has garnered unanimous support from Alcanna's board and ISS, which recommends shareholders vote 'FOR' the arrangement at the special meeting on December 14, 2021. Sundial's CEO emphasized the strategic importance of the arrangement amid market volatility.
On December 2, 2021, Sunstream IVXX Investment Corp. announced the confidential submission of a draft registration statement to the SEC for a proposed IPO. As a specialty finance company, Sunstream IVXX plans to operate as a closed-end, non-diversified management investment company, focusing on investments in the U.S. cannabis industry's debt. The exact number of shares and price range for the offering are yet to be determined, with the public offering expected to commence in Q1 2022 following SEC review and market conditions.
Sundial Growers (SNDL) has approved a new C$100 million share repurchase program, allowing the company to buy back its common shares to enhance shareholder value. The program will commence on November 19, 2021, and run until November 19, 2022, with a cap of 102.8 million shares (approx. 5% of outstanding shares). Purchases may occur via various methods at management's discretion, based on market conditions. All repurchased shares will be canceled. This move signifies Sundial's commitment to return capital to shareholders.
Sundial Growers reported a net earnings of $11.3 million for Q3 2021, a turnaround from a $71.4 million loss in Q3 2020. Adjusted EBITDA surged to $10.5 million, compared to a loss of $4.4 million year-on-year. Total net revenue from cannabis segments reached $14.4 million, a 57% increase from Q2 2021 and a 12% increase from Q3 2020. Sundial retains $1.1 billion in cash and marketable securities. The company acquired Inner Spirit and plans to acquire Alcanna, enhancing its retail presence and stability. Conference call scheduled for November 12, 2021.
Sundial Growers Inc. (Nasdaq: SNDL) will release its Q3 financial results for the period ending September 30, 2021, on November 11, 2021, after market close. A conference call and webcast for investors is scheduled for November 12, 2021, at 10:30 a.m. EST. Investors can submit questions in advance to enhance engagement, with a submission deadline of November 10, 2021. Sundial operates within the cannabis sector and also manages investments across the industry.
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