Sundial Growers Acquires Alcanna Inc.

Sundial Growers Inc. agreed to acquire all outstanding shares of Alcanna Inc. in an all-stock plan of arrangement valued at approximately C$346 million, giving Alcanna shareholders Sundial common shares. The deal expands Sundial's retail footprint into liquor (Alcanna operates 171 store locations) and increases its exposure to cannabis retail through Alcanna's interest in Nova Cannabis, with expected synergies and improved cash generation.