SNDL Inc. announced on August 12, 2024, that it will acquire all outstanding shares of Nova Cannabis Inc. through a statutory plan of arrangement valued at approximately $40 million. Under the deal, Nova shareholders will receive $1.75 in cash per share, with the option to elect 0.58 SNDL shares instead, subject to a maximum of 50% of total consideration being paid in SNDL shares.The transaction has received unanimous approval from Nova's board of directors and support from key shareholders, including Cannell Capital LLC (holding ~13% of shares) and all directors and executive officers who have entered into voting agreements. The deal requires approval from two-thirds of Nova shareholders and a simple majority of minority shareholders.The arrangement is expected to close in October 2024, subject to court approval, regulatory clearances, and other customary closing conditions. Upon completion, Nova will become a wholly-owned subsidiary of SNDL and be delisted from the Toronto Stock Exchange. SNDL will appoint a Nova nominee to its board and subsequently amalgamate with Nova under Alberta law.

SNDL Inc. announced on August 12, 2024, that it will acquire all outstanding shares of Nova Cannabis Inc. through a statutory plan of arrangement valued at approximately $40 million. Under the deal, Nova shareholders will receive $1.75 in cash per share, with the option to elect 0.58 SNDL shares instead, subject to a maximum of 50% of total consideration being paid in SNDL shares.The transaction has received unanimous approval from Nova's board of directors and support from key shareholders, including Cannell Capital LLC (holding ~13% of shares) and all directors and executive officers who have entered into voting agreements. The deal requires approval from two-thirds of Nova shareholders and a simple majority of minority shareholders.The arrangement is expected to close in October 2024, subject to court approval, regulatory clearances, and other customary closing conditions. Upon completion, Nova will become a wholly-owned subsidiary of SNDL and be delisted from the Toronto Stock Exchange. SNDL will appoint a Nova nominee to its board and subsequently amalgamate with Nova under Alberta law.