CALGARY, AB, April 23, 2021 /CNW/ - Sundial Growers Inc.
(NASDAQ: SNDL) ("Sundial" or the "Company") announced that it has
increased its commitment to SunStream Bancorp Inc. ("SunStream") to
$188 million from its previously
announced commitment of $100 million.
SunStream is a joint venture between Sundial and the SAF
Group that will leverage a strategic financial and operational
partnership to target asymmetrically enhanced risk-return
opportunities in the cannabis industry to provide exposure to a
portfolio of attractive debt, equity and hybrid investments.
Initially, SunStream expects to form a special opportunities fund
with capital from the Company and the SAF Group, in addition to
commitments from third-party limited partners. Sundial expects
to provide an update on third-party capital commitments within the
next 60 days.
About Sundial Growers Inc.
Sundial is a public company with common shares traded on the
Nasdaq Capital Market under the symbol "SNDL".
Sundial is a licensed producer that crafts cannabis using
state-of-the-art indoor facilities. Our 'craft-at-scale' modular
growing approach, award-winning genetics and experienced master
growers set us apart.
Our Canadian operations cultivate small-batch cannabis using an
individualized "room" approach, with 448,000 square feet of total
space.
Sundial's brand portfolio includes Top Leaf,
Sundial Cannabis, Palmetto and
Grasslands. Our consumer-packaged goods
experience enables us to not just grow quality cannabis,
but also to create exceptional consumer and customer
experiences.
We are proudly Albertan, headquartered in Calgary, AB, with operations in Olds, AB,
and Rocky View County, AB.
Forward-Looking Information Cautionary
Statement
This news release includes statements containing certain
"forward-looking information" within the meaning of applicable
securities law ("forward-looking statements"), including, but not
limited to, statements regarding the creation of SunStream,
SunStream's investment strategy, including the creation of the
special opportunities fund and the ability to receive commitments
from third parties, contemplated mandates, creation of a special
opportunities fund, the Company's financing
initiatives, operational goals, demand for the Company's
products, the Company's ability to achieve profitability, the
development of the legal cannabis market, future
financings and the maintenance of production levels. In
addition, depending on the development of the cannabis market and
the Company's ability to capture any growth opportunities, future
liquidity issues may continue to arise, which could have a material
adverse effect on our business, results of operations and financial
condition. Forward-looking statements are frequently
characterized by words such as "plan", "continue", "expect",
"project", "intend", "believe", "anticipate",
"estimate", "likely", "outlook", "forecast", "may",
"will", "potential", "proposed" and other similar words, or
statements that certain events or conditions "may" or "will" occur.
These statements are only predictions. Various assumptions were
used in drawing the conclusions or making the projections contained
in the forward-looking statements throughout this news release.
Forward-looking statements are based on the opinions and estimates
of management at the date the statements are made, and are subject
to a variety of risks and uncertainties and other factors that
could cause actual events or results to differ materially from
those projected in the forward-looking statements. Please see the
risk factors identified in the Company's filings with the SEC,
including those identified in the Company's Annual Report on
Form 20-F and other filings with the SEC, for a discussion of
the material risks that could cause actual results to differ
materially from the forward-looking information. The Company is
under no obligation, and expressly disclaims any intention or
obligation, to update or revise any forward-looking statements,
whether as a result of new information, future events or
otherwise, except as expressly required by applicable
law.
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SOURCE Sundial Growers Inc.