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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.
Sundial Growers announced its plan to finalize the acquisition of Alcanna on approximately March 31, 2022. All regulatory requirements have been met, pending only customary closing conditions. Additionally, the company is facing a delay in filing its audited financial statements for 2021, now expected by April 14, 2022. Despite the delay, Sundial anticipates reporting record adjusted EBITDA from continuing operations. The delay is due to increased audit requirements under the Sarbanes-Oxley Act, aimed at improving corporate governance.
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.
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