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SNDL Inc. enters an agreement to assign its rights to own or operate four Dutch Love cannabis retail stores to Nova Cannabis Inc. for C$8.2M

Date Announced

April 1, 2024

Lead Office

Toronto

Value

8.18 Million CAD

On April 1, 2024, SNDL Inc. ("SNDL") entered an agreement to assign its rights to own or operate four Dutch Love cannabis retail stores to Nova Cannabis Inc. ("Nova"). Pursuant to the assignment, Nova will issue SNDL C$8.179 million of Nova shares to SNDL.

Nova, headquartered in Toronto, Ontario, is one of Canada's largest cannabis retailers offering a wide variety of products in 96 locations across Alberta, Ontario and Saskatchewan.

SNDL, located in Calgary, Alberta, is the largest private sector liquor and cannabis retailer in Canada with retail banners that include Ace Liquor, Wine and Beyond, Liquor Depot, Value Buds, Spiritleaf, and Firesale Cannabis.

McCarthy Tétrault is advising SNDL with a team led by Ranjeev Dhillon that included Adil Akbar (Business), Kristin Dosen (Lending), Matt Kraemer and Adam Unick (Tax).

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