SNDL and Nova Cannabis Extend Outside Date for Closing of the Strategic Partnership
CALGARY, Alberta – SNDL Inc. (NASDAQ: SNDL) (“SNDL”) and Nova Cannabis Inc. (TSX: NOVC) (“Nova”) announced today that due to ongoing review by regulators with respect to required approvals, the outside date for the closing of the previously-announced strategic partnership (the “Transaction”) as contemplated by the implementation agreement entered into between SNDL and Nova dated December 20, 2022, as amended on April 3, 2023, and June 16, 2023 (collectively, the “Implementation Agreement”) has been extended. SNDL and Nova anticipate that the Transaction will close on or before July 25, 2023, subject to receipt of regulatory approvals and the amendment to certain terms of the Transaction that are mutually satisfactory to SNDL and Nova. “We have been closely collaborating with regulators and continue to progress toward completion of the Transaction,” said Marcie Kiziak, Nova’s Chief Executive Officer. “We are excited to further solidify Nova’s leadership position in the Canadian ca...