SNDL Agrees To Purchase Remaining Minority Interest In Nova Cannabis For C$1.75/Share

SNDL will acquire all of the issued and outstanding common shares in the capital of Nova not already owned by SNDL, representing approximately 34.8% of Nova Shares, by way of a statutory plan of arrangement for aggregate consideration of approximately C$40 million.

Under the terms of the Agreement, Nova's shareholders will receive $1.75 in cash for each Nova Share, representing a premium of 41.2% to the 20-day VWAP of Nova Shares on the Toronto Stock Exchange as of market close on August 12, 2024.