SNDL Granted MCTO, Amends Strategic Partnership Agreement With Nova Cannabis

SNDL Inc. (NASDAQ:SNDL) and Nova Cannabis Inc. (OTCQB:NVACF) (TSX:NOVC) have entered into an agreement to amend the implementation agreement entered into on December 20, 2022.

Pursuant to the implementation agreement, the parties have agreed to implement a strategic partnership to create a well-capitalized cannabis retail platform in Canada. The amendment contemplates, among other things: increasing the number of cannabis retail stores Nova will acquire from 25 to 31 and decreasing the number of common shares in the capital of Nova to be surrendered by SNDL for cancellation to approximately 2.01 million from approximately 14.3 million. The additional stores consist of prime real estate located primarily in Toronto and Vancouver and currently generate approximately $2.4 million of annualized in-store EBITDA.