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2021-10-08
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Sundial Growers to acquire Alcanna Inc. for $346 million<blockquote>日晷种植者将以 3.46 亿美元收购 Alcanna Inc.</blockquote>
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{"i18n":{"language":"zh_CN"},"detailType":1,"isChannel":false,"data":{"magic":2,"id":823586616,"tweetId":"823586616","gmtCreate":1633649309000,"gmtModify":1633649309122,"author":{"id":3581891911425051,"idStr":"3581891911425051","authorId":3581891911425051,"authorIdStr":"3581891911425051","name":"didiling","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":11,"crmLevelSwitch":0,"individualDisplayBadges":[],"wearingBadges":[],"fanSize":5,"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"title":"","extraTitle":"","html":"<html><head></head><body><p>Like</p></body></html>","htmlText":"<html><head></head><body><p>Like</p></body></html>","text":"Like","highlighted":1,"essential":1,"paper":1,"likeSize":11,"commentSize":1,"repostSize":0,"favoriteSize":0,"link":"https://laohu8.com/post/823586616","repostId":1160165750,"repostType":4,"repost":{"id":"1160165750","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1633648504,"share":"https://www.laohu8.com/m/news/1160165750?lang=zh_CN&edition=full","pubTime":"2021-10-08 07:15","market":"us","language":"en","title":"Sundial Growers to acquire Alcanna Inc. for $346 million<blockquote>日晷种植者将以 3.46 亿美元收购 Alcanna Inc.</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1160165750","media":"Tiger Newspress","summary":"Sundial Growers stock surged 19% in extended trading after announcing that it would acquire Alcanna ","content":"<p>Sundial Growers stock surged 19% in extended trading after announcing that it would acquire Alcanna Inc. for $346 million.</p><p><blockquote>Sundial Growers 宣布将以 3.46 亿美元收购 Alcanna Inc. 后,其股价在盘后交易中飙升 19%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/61bc6292e74a5b0a1863fd7dfb7408e0\" tg-width=\"847\" tg-height=\"618\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Sundial Growers Inc. announced today that it has entered into an arrangement agreement with Alcanna Inc. pursuant to which Sundial will acquire all of the issued and outstanding common shares of Alcanna by way of a statutory plan of arrangement for total consideration of approximately $346 million.</p><p><blockquote>Sundial Growers Inc.今天宣布,它已与Alcanna Inc.签订了一份安排协议,根据该协议,Sundial将通过法定安排计划收购Alcanna所有已发行和已发行的普通股,总代价约为3.46亿美元。</blockquote></p><p> With over 25 years of experience in retailing regulated products, Alcanna isCanada'slargest private liquor retailer, operating 171 locations predominantly inAlbertaunder its three retail brands \"Wine and Beyond\", \"Liquor Depot\" and \"Ace Liquor\". Alcanna's strategic partner, in which it holds an approximately 63% equity interest, Nova Cannabis Inc., is one ofCanada'slargest cannabis retailers offering a wide range of high-quality cannabis products at value prices. Nova currently operates 62 stores acrossAlberta,SaskatchewanandOntarioprimarily under the \"Value Buds\" and \"Nova Cannabis\" banners.</p><p><blockquote>Alcanna在零售受监管产品方面拥有超过25年的经验,是加拿大最大的私营酒类零售商,主要在艾伯塔省经营着171家分店,旗下有三个零售品牌“Wine and Beyond”、“Liquor Depot”和“Ace Liquor”。Alcanna持有其约63%股权的战略合作伙伴Nova Cannabis Inc.是加拿大最大的大麻零售商之一,以超值价格提供各种高质量的大麻产品。Nova 目前在阿尔伯塔省、萨斯喀彻温省和安大略省经营着 62 家商店,主要打着“Value Buds”和“Nova Cannabis”的旗号。</blockquote></p><p> <b>KEY TRANSACTION HIGHLIGHTS</b></p><p><blockquote><b>主要交易亮点</b></blockquote></p><p> <ul> <li><b>Improved cash flow profile with expansion into liquor:</b>Alcanna's longstanding liquor business provides Sundial with stable cash generation through a mature and proven business model with trailing twelve months free cash flow of$16.4 millionon a built-out retail platform.</li> <li><b>Enhanced exposure with investment in Nova, a publicly listed, pure-play cannabis retail operator:</b>Sundial's current retail network combined with Nova's store count implies that the combined company will be a Canadian cannabis retail market leader with more than 170 locations. This network strengthens Sundial's position as a partner to the industry and represents a critical route to market for Canadian licensed producers.</li> <li><b>Synergies from a larger retail operation:</b>The robust corporate support function at Alcanna is expected to supplement Sundial's Spiritleaf retail operations. It is estimated that the transaction will deliver more than$15 millionof additional EBITDA on an annual run-rate basis through synergies and other strategic initiatives.</li> <li><b>Alcanna shareholders to participate in and help create the future of Sundial:</b>Alcanna shareholders are to receive Sundial common shares in an all-stock transaction. The transaction will provide Alcanna shareholders with exposure to Sundial's core cannabis operations inCanadaand investment operations focused on deploying capital within the cannabis sector through its joint venture in SunStream Bancorp Inc. Beyond improved liquidity and the ability to position for further retail expansion, Sundial's balance sheet strength provides a unique opportunity for Alcanna shareholders to participate in investment growth in the regulated product sector.</li> </ul> \"This made-in-Albertatransaction allows Sundial to further its mission to own the customer relationship and deliver sustainable value to shareholders,\" saidZach George, Chief Executive Officer of Sundial. \"Alcanna's value-focused model in liquor retailing has created market stability and we believe that the replication of this playbook in cannabis has strong potential to drive a similar result. We intend to position all of our retail exposure for profitability and strive to work with Canadian licensed producers in order to delight consumers with quality cannabis products.\"</p><p><blockquote><ul><li><b>通过扩展到白酒领域,现金流状况得到改善:</b>Alcanna 历史悠久的酒类业务通过成熟且经过验证的商业模式为 Sundial 提供稳定的现金生成,在内置零售平台上,过去 12 个月的自由现金流为 1,640 万美元。</li><li><b>通过投资上市纯大麻零售运营商 Nova 来增强曝光率:</b>Sundial 目前的零售网络加上 Nova 的门店数量意味着合并后的公司将成为加拿大大麻零售市场的领导者,拥有超过 170 家门店。该网络加强了Sundial作为行业合作伙伴的地位,并代表了加拿大特许生产商进入市场的重要途径。</li><li><b>更大零售业务的协同效应:</b>Alcanna强大的企业支持职能预计将补充Sundial的Spiritleaf零售业务。据估计,通过协同效应和其他战略举措,该交易每年将带来超过 1500 万美元的额外 EBITDA。</li><li><b>Alcanna 股东参与并帮助创造 Sundial 的未来:</b>Alcanna 股东将通过全股票交易获得 Sundial 普通股。此次交易将使 Alcanna 股东能够接触到 Sundial 在加拿大的核心大麻业务以及通过其在 SunStream Bancorp Inc. 的合资企业专注于在大麻行业部署资本的投资业务。除了改善流动性和为进一步零售扩张做好准备的能力之外,Sundial 的资产负债表实力还为 Alcanna 股东参与受监管产品领域的投资增长提供了独特的机会。</li></ul>Sundial 首席执行官 Zach George 表示:“这项艾伯塔省制造的交易使 Sundial 能够进一步履行其拥有客户关系并为股东提供可持续价值的使命。”“Alcanna 在酒类零售领域以价值为中心的模式创造了市场稳定,我们相信在大麻领域复制这一剧本有很大潜力推动类似的结果。我们打算将所有零售业务定位为盈利,并努力与加拿大持牌生产商合作,以便用优质的大麻产品取悦消费者。”</blockquote></p><p> \"We believe this agreement is a testament to the value created by everyone at Alcanna and will be beneficial to all of our stakeholders,\" saidJames Burns, Vice Chair and Chief Executive Officer of Alcanna. \"We have been successful at achieving customer loyalty, and operating at levels of efficiency that are industry-leading and Sundial will provide great opportunities as a larger and significantly more liquid company. We look forward to working with Sundial to complete this transaction.\"</p><p><blockquote>Alcanna 副董事长兼首席执行官 James Burns 表示:“我们相信这项协议证明了 Alcanna 每个人创造的价值,并将使我们所有的利益相关者受益。”“我们在实现客户忠诚度方面取得了成功,作为一家规模更大、流动性更强的公司,Sundial 以行业领先的效率水平运营将提供巨大的机会。我们期待与 Sundial 合作完成这笔交易。”</blockquote></p><p></p><p> Under the terms of the Agreement, Alcanna's shareholders will receive, for each Alcanna common share held, 10.69 common shares of Sundial (each whole share, a \"<b>Sundial Share</b>\") (based on the trailing 10-day volume-weighted average price (\"<b>VWAP</b>\") of the Sundial Shares on the NASDAQ Capital Market prior to the date of this press release), representing a deemed value of$9.12per Alcanna Share. The purchase price of$9.12per Alcanna Share represents a premium of 39% to the 10-day VWAP of the Alcanna Shares on the Toronto Stock Exchange (the \"<b>TSX</b>\") preceding the signing of the parties' non-binding letter of intent onSeptember 1, 2021and a premium of 23% to the 10-day VWAP of the Alcanna Shares on the TSX preceding theSeptember 15, 2021press release regarding recent trading activity (unaffected date). The Transaction has been unanimously approved by the boards of directors of Sundial and Alcanna and is expected to close inDecember 2021or in the first quarter of 2022.</p><p><blockquote>根据协议条款,Alcanna 股东每持有一股 Alcanna 普通股,将获得 10.69 股 Sundial 普通股(每股全股,一股 ”<b>日晷份额</b>“)(基于过往10天成交量加权平均价格(“<b>瓦普</b>」),相当于每股Alcanna股份的视作价值为9.12美元。每股Alcanna股份9.12美元的收购价相当于Alcanna股份在多伦多证券交易所的10天VWAP溢价39%。<b>TSX</b>\") 在双方于 2021 年 9 月 1 日签署不具约束力的意向书之前,以及在 2021 年 9 月 15 日发布有关近期交易活动的新闻稿之前,Alcanna 股票在多伦多证券交易所的 10 天 VWAP 溢价 23%(未受影响的日期)。该交易已获得 Sundial 和 Alcanna 董事会的一致批准,预计将于 2021 年 12 月或 2022 年第一季度完成。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Sundial Growers to acquire Alcanna Inc. for $346 million<blockquote>日晷种植者将以 3.46 亿美元收购 Alcanna Inc.</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSundial Growers to acquire Alcanna Inc. for $346 million<blockquote>日晷种植者将以 3.46 亿美元收购 Alcanna Inc.</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-10-08 07:15</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Sundial Growers stock surged 19% in extended trading after announcing that it would acquire Alcanna Inc. for $346 million.</p><p><blockquote>Sundial Growers 宣布将以 3.46 亿美元收购 Alcanna Inc. 后,其股价在盘后交易中飙升 19%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/61bc6292e74a5b0a1863fd7dfb7408e0\" tg-width=\"847\" tg-height=\"618\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Sundial Growers Inc. announced today that it has entered into an arrangement agreement with Alcanna Inc. pursuant to which Sundial will acquire all of the issued and outstanding common shares of Alcanna by way of a statutory plan of arrangement for total consideration of approximately $346 million.</p><p><blockquote>Sundial Growers Inc.今天宣布,它已与Alcanna Inc.签订了一份安排协议,根据该协议,Sundial将通过法定安排计划收购Alcanna所有已发行和已发行的普通股,总代价约为3.46亿美元。</blockquote></p><p> With over 25 years of experience in retailing regulated products, Alcanna isCanada'slargest private liquor retailer, operating 171 locations predominantly inAlbertaunder its three retail brands \"Wine and Beyond\", \"Liquor Depot\" and \"Ace Liquor\". Alcanna's strategic partner, in which it holds an approximately 63% equity interest, Nova Cannabis Inc., is one ofCanada'slargest cannabis retailers offering a wide range of high-quality cannabis products at value prices. Nova currently operates 62 stores acrossAlberta,SaskatchewanandOntarioprimarily under the \"Value Buds\" and \"Nova Cannabis\" banners.</p><p><blockquote>Alcanna在零售受监管产品方面拥有超过25年的经验,是加拿大最大的私营酒类零售商,主要在艾伯塔省经营着171家分店,旗下有三个零售品牌“Wine and Beyond”、“Liquor Depot”和“Ace Liquor”。Alcanna持有其约63%股权的战略合作伙伴Nova Cannabis Inc.是加拿大最大的大麻零售商之一,以超值价格提供各种高质量的大麻产品。Nova 目前在阿尔伯塔省、萨斯喀彻温省和安大略省经营着 62 家商店,主要打着“Value Buds”和“Nova Cannabis”的旗号。</blockquote></p><p> <b>KEY TRANSACTION HIGHLIGHTS</b></p><p><blockquote><b>主要交易亮点</b></blockquote></p><p> <ul> <li><b>Improved cash flow profile with expansion into liquor:</b>Alcanna's longstanding liquor business provides Sundial with stable cash generation through a mature and proven business model with trailing twelve months free cash flow of$16.4 millionon a built-out retail platform.</li> <li><b>Enhanced exposure with investment in Nova, a publicly listed, pure-play cannabis retail operator:</b>Sundial's current retail network combined with Nova's store count implies that the combined company will be a Canadian cannabis retail market leader with more than 170 locations. This network strengthens Sundial's position as a partner to the industry and represents a critical route to market for Canadian licensed producers.</li> <li><b>Synergies from a larger retail operation:</b>The robust corporate support function at Alcanna is expected to supplement Sundial's Spiritleaf retail operations. It is estimated that the transaction will deliver more than$15 millionof additional EBITDA on an annual run-rate basis through synergies and other strategic initiatives.</li> <li><b>Alcanna shareholders to participate in and help create the future of Sundial:</b>Alcanna shareholders are to receive Sundial common shares in an all-stock transaction. The transaction will provide Alcanna shareholders with exposure to Sundial's core cannabis operations inCanadaand investment operations focused on deploying capital within the cannabis sector through its joint venture in SunStream Bancorp Inc. Beyond improved liquidity and the ability to position for further retail expansion, Sundial's balance sheet strength provides a unique opportunity for Alcanna shareholders to participate in investment growth in the regulated product sector.</li> </ul> \"This made-in-Albertatransaction allows Sundial to further its mission to own the customer relationship and deliver sustainable value to shareholders,\" saidZach George, Chief Executive Officer of Sundial. \"Alcanna's value-focused model in liquor retailing has created market stability and we believe that the replication of this playbook in cannabis has strong potential to drive a similar result. We intend to position all of our retail exposure for profitability and strive to work with Canadian licensed producers in order to delight consumers with quality cannabis products.\"</p><p><blockquote><ul><li><b>通过扩展到白酒领域,现金流状况得到改善:</b>Alcanna 历史悠久的酒类业务通过成熟且经过验证的商业模式为 Sundial 提供稳定的现金生成,在内置零售平台上,过去 12 个月的自由现金流为 1,640 万美元。</li><li><b>通过投资上市纯大麻零售运营商 Nova 来增强曝光率:</b>Sundial 目前的零售网络加上 Nova 的门店数量意味着合并后的公司将成为加拿大大麻零售市场的领导者,拥有超过 170 家门店。该网络加强了Sundial作为行业合作伙伴的地位,并代表了加拿大特许生产商进入市场的重要途径。</li><li><b>更大零售业务的协同效应:</b>Alcanna强大的企业支持职能预计将补充Sundial的Spiritleaf零售业务。据估计,通过协同效应和其他战略举措,该交易每年将带来超过 1500 万美元的额外 EBITDA。</li><li><b>Alcanna 股东参与并帮助创造 Sundial 的未来:</b>Alcanna 股东将通过全股票交易获得 Sundial 普通股。此次交易将使 Alcanna 股东能够接触到 Sundial 在加拿大的核心大麻业务以及通过其在 SunStream Bancorp Inc. 的合资企业专注于在大麻行业部署资本的投资业务。除了改善流动性和为进一步零售扩张做好准备的能力之外,Sundial 的资产负债表实力还为 Alcanna 股东参与受监管产品领域的投资增长提供了独特的机会。</li></ul>Sundial 首席执行官 Zach George 表示:“这项艾伯塔省制造的交易使 Sundial 能够进一步履行其拥有客户关系并为股东提供可持续价值的使命。”“Alcanna 在酒类零售领域以价值为中心的模式创造了市场稳定,我们相信在大麻领域复制这一剧本有很大潜力推动类似的结果。我们打算将所有零售业务定位为盈利,并努力与加拿大持牌生产商合作,以便用优质的大麻产品取悦消费者。”</blockquote></p><p> \"We believe this agreement is a testament to the value created by everyone at Alcanna and will be beneficial to all of our stakeholders,\" saidJames Burns, Vice Chair and Chief Executive Officer of Alcanna. \"We have been successful at achieving customer loyalty, and operating at levels of efficiency that are industry-leading and Sundial will provide great opportunities as a larger and significantly more liquid company. We look forward to working with Sundial to complete this transaction.\"</p><p><blockquote>Alcanna 副董事长兼首席执行官 James Burns 表示:“我们相信这项协议证明了 Alcanna 每个人创造的价值,并将使我们所有的利益相关者受益。”“我们在实现客户忠诚度方面取得了成功,作为一家规模更大、流动性更强的公司,Sundial 以行业领先的效率水平运营将提供巨大的机会。我们期待与 Sundial 合作完成这笔交易。”</blockquote></p><p></p><p> Under the terms of the Agreement, Alcanna's shareholders will receive, for each Alcanna common share held, 10.69 common shares of Sundial (each whole share, a \"<b>Sundial Share</b>\") (based on the trailing 10-day volume-weighted average price (\"<b>VWAP</b>\") of the Sundial Shares on the NASDAQ Capital Market prior to the date of this press release), representing a deemed value of$9.12per Alcanna Share. The purchase price of$9.12per Alcanna Share represents a premium of 39% to the 10-day VWAP of the Alcanna Shares on the Toronto Stock Exchange (the \"<b>TSX</b>\") preceding the signing of the parties' non-binding letter of intent onSeptember 1, 2021and a premium of 23% to the 10-day VWAP of the Alcanna Shares on the TSX preceding theSeptember 15, 2021press release regarding recent trading activity (unaffected date). The Transaction has been unanimously approved by the boards of directors of Sundial and Alcanna and is expected to close inDecember 2021or in the first quarter of 2022.</p><p><blockquote>根据协议条款,Alcanna 股东每持有一股 Alcanna 普通股,将获得 10.69 股 Sundial 普通股(每股全股,一股 ”<b>日晷份额</b>“)(基于过往10天成交量加权平均价格(“<b>瓦普</b>」),相当于每股Alcanna股份的视作价值为9.12美元。每股Alcanna股份9.12美元的收购价相当于Alcanna股份在多伦多证券交易所的10天VWAP溢价39%。<b>TSX</b>\") 在双方于 2021 年 9 月 1 日签署不具约束力的意向书之前,以及在 2021 年 9 月 15 日发布有关近期交易活动的新闻稿之前,Alcanna 股票在多伦多证券交易所的 10 天 VWAP 溢价 23%(未受影响的日期)。该交易已获得 Sundial 和 Alcanna 董事会的一致批准,预计将于 2021 年 12 月或 2022 年第一季度完成。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SNDL":"SNDL Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1160165750","content_text":"Sundial Growers stock surged 19% in extended trading after announcing that it would acquire Alcanna Inc. for $346 million.\n\nSundial Growers Inc. announced today that it has entered into an arrangement agreement with Alcanna Inc. pursuant to which Sundial will acquire all of the issued and outstanding common shares of Alcanna by way of a statutory plan of arrangement for total consideration of approximately $346 million.\nWith over 25 years of experience in retailing regulated products, Alcanna isCanada'slargest private liquor retailer, operating 171 locations predominantly inAlbertaunder its three retail brands \"Wine and Beyond\", \"Liquor Depot\" and \"Ace Liquor\". Alcanna's strategic partner, in which it holds an approximately 63% equity interest, Nova Cannabis Inc., is one ofCanada'slargest cannabis retailers offering a wide range of high-quality cannabis products at value prices. Nova currently operates 62 stores acrossAlberta,SaskatchewanandOntarioprimarily under the \"Value Buds\" and \"Nova Cannabis\" banners.\nKEY TRANSACTION HIGHLIGHTS\n\nImproved cash flow profile with expansion into liquor:Alcanna's longstanding liquor business provides Sundial with stable cash generation through a mature and proven business model with trailing twelve months free cash flow of$16.4 millionon a built-out retail platform.\nEnhanced exposure with investment in Nova, a publicly listed, pure-play cannabis retail operator:Sundial's current retail network combined with Nova's store count implies that the combined company will be a Canadian cannabis retail market leader with more than 170 locations. This network strengthens Sundial's position as a partner to the industry and represents a critical route to market for Canadian licensed producers.\nSynergies from a larger retail operation:The robust corporate support function at Alcanna is expected to supplement Sundial's Spiritleaf retail operations. It is estimated that the transaction will deliver more than$15 millionof additional EBITDA on an annual run-rate basis through synergies and other strategic initiatives.\nAlcanna shareholders to participate in and help create the future of Sundial:Alcanna shareholders are to receive Sundial common shares in an all-stock transaction. The transaction will provide Alcanna shareholders with exposure to Sundial's core cannabis operations inCanadaand investment operations focused on deploying capital within the cannabis sector through its joint venture in SunStream Bancorp Inc. Beyond improved liquidity and the ability to position for further retail expansion, Sundial's balance sheet strength provides a unique opportunity for Alcanna shareholders to participate in investment growth in the regulated product sector.\n\n\"This made-in-Albertatransaction allows Sundial to further its mission to own the customer relationship and deliver sustainable value to shareholders,\" saidZach George, Chief Executive Officer of Sundial. \"Alcanna's value-focused model in liquor retailing has created market stability and we believe that the replication of this playbook in cannabis has strong potential to drive a similar result. We intend to position all of our retail exposure for profitability and strive to work with Canadian licensed producers in order to delight consumers with quality cannabis products.\"\n\"We believe this agreement is a testament to the value created by everyone at Alcanna and will be beneficial to all of our stakeholders,\" saidJames Burns, Vice Chair and Chief Executive Officer of Alcanna. \"We have been successful at achieving customer loyalty, and operating at levels of efficiency that are industry-leading and Sundial will provide great opportunities as a larger and significantly more liquid company. We look forward to working with Sundial to complete this transaction.\"\nUnder the terms of the Agreement, Alcanna's shareholders will receive, for each Alcanna common share held, 10.69 common shares of Sundial (each whole share, a \"Sundial Share\") (based on the trailing 10-day volume-weighted average price (\"VWAP\") of the Sundial Shares on the NASDAQ Capital Market prior to the date of this press release), representing a deemed value of$9.12per Alcanna Share. The purchase price of$9.12per Alcanna Share represents a premium of 39% to the 10-day VWAP of the Alcanna Shares on the Toronto Stock Exchange (the \"TSX\") preceding the signing of the parties' non-binding letter of intent onSeptember 1, 2021and a premium of 23% to the 10-day VWAP of the Alcanna Shares on the TSX preceding theSeptember 15, 2021press release regarding recent trading activity (unaffected date). The Transaction has been unanimously approved by the boards of directors of Sundial and Alcanna and is expected to close inDecember 2021or in the first quarter of 2022.","news_type":1,"symbols_score_info":{"SNDL":0.9}},"isVote":1,"tweetType":1,"viewCount":3342,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":4,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/823586616"}
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