Press release
Sundial Growers Completes the Acquisition of Spiritleaf Retail Cannabis Network
Sundial enters the Canadian cannabis retail space with the addition of the country's largest single brand network with 100-plus retail locations CALGARY, AB,
About this update from Sndl Inc.
[{"type":"text","content":"Sundial enters the Canadian cannabis retail space with the addition of the country's largest single brand network with 100-plus retail locations\n CALGARY, AB, July 20, 2021 /PRNewswire/ - Sundial Growers Inc. (Nasdaq: SNDL) (\"Sundial\" or the \"Company\") is pleased to announce the completion of the previously disclosed arrangement (the \"Arrangement\") whereby Sundial has acquired all of the issued and outstanding common shares of Inner Spirit Holdings Ltd. (CSE: ISH) (OTCQB: INSHF) (\"Inner Spirit\") (\"Inner Spirit Shares\") for consideration per Inner Spirit Share consisting of (i) $0.30 in cash and (ii) 0.0835 of a common share of Sundial.\n\nTRANSACTION HIGHLIGHTS\nEstablishes Sundial as one of Canada's largest vertically integrated cannabis companies: Sundial is a diversified cannabis company with a strong brand portfolio and extensive consumer packaged goods experience. Acquiring Spiritleaf broadens Sundial's business with a strategic entry into cannabis retail and enables greater access to and understanding of retail markets, product marketing insights and consumer purchasing trends. Establishes Sundial as Canada's largest single-branded network of retail operations: The addition of well-established Spiritleaf franchised and corporate-owned stores, representing the country's largest single-brand recreational cannabis retailer with 100-plus stores across six provinces, provides Sundial with an integration and expansion platform in current operating markets in Canada. Strengthens Sundial's retail expertise with cannabis advocates: Spiritleaf has earned its reputation as an industry leader for its franchise sales and support system, in-store design and experience, employee education and training, marketing creativity and customer benefits program.\"The acquisition of the Spiritleaf cannabis retail network makes Sundial a stronger and more diverse cannabis company,\" said Zach George, Chief Executive Officer of Sundial. \"We are excited to work with the Spiritleaf team and franchise partners to further develop and optimize the store network in Canada and provide a clear path to sustainable profitability for Sundial. Spiritleaf has demonstrated the ability to grow its brand from coast to coast, and we plan to support this growth trajectory, enhance the use of data to make key business decisions, and provide an optimal prod...