Sundial Growers Inc. (Nasdaq: SNDL) completes the previously announced acquisition of all issued and outstanding common shares of Inner Spirit Holdings Ltd. (CSE: ISH).
Under the terms of the acquisition, Inner Spirit shareholders will get $0.30 in cash and 0.0835 Sundial Grower common share for each share held. The company previously estimated the acquisition’s tag price at $131.0 million or $0.39 per Inner Spirit share.
The transaction expands the Alberta-based cannabis firm’s footprint in the country as it acquires Inner Spirit’s Spiritleaf retail network of more than 100 stores.
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Following the acquisition, it is expected that Inner Spirit’s shares will be delisted from the Canadian Securities Exchange today.
Sundial Growers last traded at US$0.84 on the Nasdaq while Inner Spirit last traded at $0.38 on the CSE.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
