SNDL Enters into a Stalking Horse Purchase Agreement for Indiva Limited’;s Business and Assets – Journal Important Online

CALGARY, AB, July 5, 2024 /PRNewswire/ – SNDL Inc. (Nasdaq: SNDL) (“SNDL” or the “Company“) declared today that it has entered into a acquire commendation (the “Bid Agreement“) with Indiva Limited (“Indiva“) and its candid and backhanded subsidiaries (collectively with Indiva, the “Indiva Group“), pursuant to which SNDL has offered to acquire every of the issued and unpaid shares of Indiva and the playing and assets of the Indiva Group (collectively, the “Indiva Assets“) for kindness comprising of a assign effort of every of the obligation of the Indiva Group owing to SNDL, the possession of destined liabilities of the Indiva Group, and change payments decent to move destined antecedency obligation of the Indiva Group and costs related with the Indiva Group’s transactions low the Companies’ Creditors Arrangement Act (Canada) (the “CCAA Proceedings“).

The Bid Agreement has been entered into in the environment of the CCAA Proceedings, as conception of a income impact where the Indiva Assets module be marketed to likely purchasers (the “Sale Process“) by PricewaterhouseCoopers Inc., the guardian in the CCAA Proceedings (the “Monitor“) and, accordingly, is person to support by the suite overseeing the CCAA Proceedings and to possibleness deciding bids submitted pursuant to the Sale Process.

Based on a inform of the Monitor, dated July 4, 2024, issued in the CCAA Proceedings, the Monitor currently estimates the continuance of the assign effort and change kindness payable by SNDL low the Bid Agreement to be in the arrange of roughly CAD$25 million to CAD$28 million. SNDL is the hunting equid bidder in the Sale Process, much that the Bid Agreement module ordered the “floor”, or peak unexceptionable bid, for added bidders and module be deemed acknowledged if there are no added bids submitted. If the Monitor determines that there is added effort that offers crack cost to the Bid Agreement, SNDL module also hit the possibleness to move in an sell impact for the Indiva Assets. The Sale Process is currently due to hold by Sept 30, 2024.

The acquisition of the Indiva Assets is due to boost compound SNDL’s creation portfolio, specially in the edibles segment, and fortify its function as a directive contestant in the river ganja market. Indiva’s directive brands, Pearls by Grön, No Future Gummies and Vapes, Bhang Chocolate, Indiva Blips Tablets, Indiva Doppio Sandwich Cookies, and Indiva 1432 Chocolate, hit garnered brawny consumer loyalty and are famous for their quality, conception and value.

Advisors

McCarthy Tétrault LLP is performing as jural direction for SNDL, aeronaut designer LLP is performing as jural direction for the Indiva Group, and Osler Hoskin & Harcourt LLP is performing as jural direction for the Monitor.

ABOUT SNDL INC. 

SNDL is a open consort whose shares are traded on the Nasdaq low the symbolisation “SNDL”. SNDL is the maximal private-sector intoxicant and ganja merchandiser in Canada with retail banners that allow Ace Liquor, Wine and Beyond, Liquor Depot, Value Buds, Spiritleaf, and Firesale Cannabis. SNDL is a licensed ganja shaper and digit of the maximal vertically desegrated ganja companies in Canada specializing in low-cost biomass sourcing, payment interior cultivation, creation innovation, low-cost manufacturing facilities, and a ganja sort portfolio that includes Top Leaf, Contraband, Palmetto, Bon Jak, Versus, Value Buds, and Vacay. SNDL’s assets portfolio seeks to deploy strategic top finished candid and backhanded investments and partnerships throughout the North dweller ganja industry. For more aggregation on SNDL, gratify go to https://sndl.com/. 

Forward-Looking Information Cautionary Statement

This programme promulgation includes statements containing destined “forward-looking information” within the message of practical securities accumulation (“forward-looking statements”). Forward hunting statements in this promulgation includes, but is not restricted to, the possibleness treatment plans of the Company in Canada, the Company’s knowledge to wage uninterrupted cater to its customer, and statements regarding the forthcoming action of the Company. Forward-looking statements are ofttimes defined by text much as “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed” and added kindred words, or statements that destined events or conditions “may” or “will” occur. These statements are exclusive predictions. Various assumptions were utilised in art the conclusions or making the projections contained in the forward-looking statements throughout this programme release. Forward-looking statements are supported on the opinions and estimates of direction at the fellow the statements are made, and are person to a difference of risks and uncertainties and added factors that could drive actualised events or results to dissent materially from those sticking in the forward-looking statements. The Company is low no obligation, and expressly disclaims some intention or obligation, to update or reorganise some forward-looking statements, whether as a termination of newborn information, forthcoming events or otherwise, eliminate as expressly required by practical law.

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SOURCE SNDL Inc.