SNDL and Nova Cannabis Inc. announced that SNDL has agreed to assign its rights to own or operate four Dutch Love stores to Nova. Pursuant to the Assignment, Nova shall issue to SNDL $8.179 million of Nova shares based on the 20-day VWAP of the Nova shares on March 28, 2024. The closing of the transactions contemplated by the Assignment are subject to customary closing conditions, including the approval of the Toronto Stock Exchange (“TSX”) for the listing of the Nova shares issuable to SNDL, court approval and all other regulatory approvals, and is anticipated to close by the end of April 2024. The addition of the Dutch Love Stores is expected to bring Nova’s total store count to 100 and SNDL’s direct and indirect cannabis store count across all retail banners to 190.
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