Indiva Provides Update on SNDL Loan and Strategic Review
June 03 2024 - 7:00AM
Business Wire
Indiva Limited (the "Company" or "Indiva")
(TSXV:NDVA), the leading Canadian producer of cannabis edibles, is
pleased to provide an update to the information contained in its
press release dated April 2, 2024. As discussed in the prior press
release, the Company: (i) entered into an amendment (the
"Amending Agreement") to the second amended and restated
promissory note (the "Promissory Note") between, among
others, the Company and SNDL Inc. ("SNDL"), whereby, among
other things, the Company agreed to reduce certain current
liabilities; and (ii) retained SSC Advisors (the "Advisor"),
as its financial advisor, to assist the Company in the evaluation
of potential strategic alternatives intended to maximize
shareholder value (the “Strategic Review”).
The Company is continuing these efforts, and as such, the date
by which the Company is required to have satisfied certain current
liabilities under the Amending Agreement has been extended to June
13, 2024. The Strategic Review is ongoing and the Company continues
to review strategic alternatives. This is not an indication that
any decision has been, or is likely to be, made relating to any
strategic alternatives. There can be no assurance that the
Strategic Review will result in any binding offer, financing or
transaction.
ABOUT INDIVA
Indiva is proud to be Canada's #1 producer of cannabis edibles.
We set the gold standard for quality and innovation with our
award-winning products, across a wide range of brands including
Pearls by Gr�n, Bhang Chocolate, Indiva Doppio Sandwich Cookies,
Indiva 1432 Chocolate, and No Future Gummies and Vapes, as well as
other Indiva branded extracts. Indiva manufactures its top-quality
products in its state-of-the-art facility in London, Ontario, and
has a corporate workforce remotely distributed across Canada. Click
here to connect with Indiva on LinkedIn, Instagram, and here to
find more information on the Company and its products.
DISCLAIMER AND READER ADVISORY
General
This news release contains forward-looking statements,
including, but not limited to, the outcome of a strategic
alternative transaction and other statements which are not
historical facts. When used in this document, the words such as
"could", "believe", "estimate", "expect", "intend", "may",
"potential", "should" and similar expressions indicate
forward-looking statements. Readers are cautioned not to place
undue reliance on forward-looking statements, as there can be no
assurance that the plans, intentions or expectations upon which
they are based will occur. Forward-looking statements speak only as
of the date they are made, and the Company does not undertake to
update these statements other than as required by law. By their
nature, forward-looking statements are based on the opinions and
estimates of management on the date that the statements are made
and involve numerous assumptions, known and unknown risks and
uncertainties, both general and specific, that contribute to the
possibility that the predictions, forecasts, projections and other
events contemplated by the forward-looking statements will not
occur or will differ materially from those expected. Such risks and
uncertainties include, but are not limited to, the inability of the
Company and the Advisor to identify and evaluate strategic
alternatives. Although the Company believes that the expectations
represented by such forward-looking statements are reasonable based
on the current business environment, there can be no assurance that
such expectations will prove to be correct as these expectations
are inherently subject to business, economic and competitive
uncertainties and contingencies. Some of the risks and other
factors which could cause results to differ materially from those
expressed in the forward-looking statements are contained in the
Company's management's discussion and analysis, which is available
on SEDAR+, but are not limited to such risks and other factors
stated therein.
Neither the TSXV nor its Regulation Services Provider (as that
term is defined in the policies of the TSXV) has in any way passed
upon the merits of the contents of this news release and neither of
the foregoing entities accepts responsibility for the adequacy or
accuracy of this news release or has in any way approved or
disapproved of the contents of this news release.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240603253226/en/
INVESTOR CONTACT Anthony Simone Phone: 416-881-5154 Email:
ir@indiva.com Niel Marotta, Chief Executive Officer Phone:
1-888-649-6686 Email: contact@indiva.ca
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