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Sundial Announces Anticipated Closing Date Of Alcanna Acquisition And Late Filing Of Annual Financial Statements And Md&A Under Canadian Law

Mar 29, 2022•over 3 years ago

Acquiring Company

Sundial Growers

Acquired Company

Alcanna

Description

Sundial Growers Inc. (NASDAQ: SNDL) ("Sundial" or the "Company") today announced that it expects the previously announced plan of arrangement (the "Arrangement") with Alcanna Inc. ("Alcanna") to be completed on or about March 31, 2022. All regulatory requirements under applicable provincial liquor and cannabis legislation have now been satisfied and completion of the Arrangement remains subject only to customary closing conditions as further described in the Arrangement Agreement. Sundial and Alcanna have mutually agreed to extend the outside date for closing the transaction by one day to March 31, 2022.

Company Information

Company

Sundial Growers

About

Sundial is a public company with Common Shares traded on Nasdaq under the symbol "SNDL". Our business is reported and analyzed under two operating segments: one being Cannabis and the other being Investments. As a licensed producer that crafts small-batch cannabis using state-of-the-art indoor facilities, our 'craft-at-scale' modular growing approach, award-winning genetics and experienced growers set us apart. Sundial's brand portfolio includes Top Leaf, Sundial Cannabis, Palmetto and Grasslands. Sundial also operates the Spiritleaf retail banner. Spiritleaf aims to be the most knowledgeable and trusted source of recreational cannabis by offering a premium consumer experience and quality curated cannabis products. Our investment operations seek to deploy strategic capital through direct and indirect investments and partnerships throughout the global cannabis industry. We are proudly Albertan, headquartered in Calgary, AB, with operations in Olds and Rocky View County, Alberta, Canada. For more information on Sundial, please go to www.sndlgroup.com.

M&A Insights

Based on deal data
Integration timeline
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Tech stack consolidation
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Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed