CALGARY,
AB, June 22, 2023 /CNW/ - SNDL Inc.
(NASDAQ: SNDL) ("SNDL") today announced that between
June 10, 2023, and June 22, 2023, SNDL disposed of 3,297,000 common
shares ("Common Shares") in the capital of Indiva Limited
(TSXV: NDVA) (OTCQX: NDVAF) ("Indiva").
Between June 10, 2023, and
June 22, 2023, SNDL disposed of
3,297,000 Common Shares (the "Sold Shares") through the
facilities of the TSX Venture Exchange (the "TSXV") at an
average price of $0.0293 per share
for a total consideration of $90,207.
Prior to the dispositions, SNDL held 19,235,500 Common Shares,
representing approximately 12.93% of the then issued and
outstanding Common Shares on a non-diluted basis. As a result,
following the completion of these dispositions, and after taking
into account various issuances by Indiva of Common Shares from
treasury during this same period, SNDL's holdings in Indiva
decreased by an aggregate of approximately 4.36%. Immediately
following this disposition, SNDL now holds 15,938,500 Common
Shares, representing 8.57% of Indiva's issued and outstanding
Common Shares on a non-diluted basis, as reported to the TSX after
taking into account various concurrent issuances by Indiva of
Common Shares.
The Sold Shares were sold for investment purposes. SNDL may,
depending on market and other conditions, increase or decrease its
beneficial ownership in Indiva's securities, whether in
transactions over the open market, by privately negotiated
arrangements or otherwise, subject to a number of factors,
including general market conditions and other available investment
and business opportunities.
This news release is being issued to comply with National
Instrument 62-103 - The Early Warning System and Related
Take-Over Bid and Insider Reporting Issues. An early warning
report regarding these transactions has been filed on the System
for Electronic Document Analysis and Retrieval (SEDAR)
at www.sedar.com under Indiva's issuer profile and
may be obtained directly from SNDL upon request at the telephone
number below and from the individual listed below. SNDL's head
office is located at #300, 919 - 11th Avenue SW, Calgary, AB T2R 1P3.
ABOUT SNDL INC.
SNDL is a public company whose shares are traded on the Nasdaq
under the symbol "SNDL."
SNDL 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. SNDL is a licensed cannabis
producer and one of the largest vertically integrated cannabis
companies in Canada specializing
in low-cost biomass sourcing, premium indoor cultivation, product
innovation, low-cost manufacturing facilities, and a cannabis
brand portfolio that includes Top Leaf, Contraband, Citizen Stash,
Sundial Cannabis, Palmetto, Bon Jak, Spiritleaf Selects, Versus
Cannabis, Value Buds, Vacay, Grasslands and Superette. SNDL's
investment portfolio seeks to deploy strategic capital through
direct and indirect investments and partnerships throughout the
North American cannabis industry. For more information on SNDL,
please go to www.sndl.com.
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"). Forward looking
statements in this release includes, but is not limited to, SNDL's
future plans or intentions in respect of its ownership of Common
Shares. Forward-looking statements are frequently characterized by
words such as "plan", "continue", "expect", "project", "intend",
"believe", "anticipate", "estimate", "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. SNDL 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.