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SNDL Acquires Delta 9 Cannabis' Debt, Ascends to Senior Secured Creditor Status CALGARY, AB

Friday, July 5, 2024 2 min read
Key Takeaway: SNDL Inc. has announced the acquisition of Delta 9 Cannabis' principal indebtedness for CAD $28.1 million. This transaction elevates SNDL to the status of senior secured creditor, granting it a first priority security interest in Delta 9's assets. Following this acquisition, the total amount owed by Delta 9 to SNDL will be CAD $40.7 million, enhancing SNDL's position in the cannabis industry.

Market Sentiment Analysis

POSITIVE FACTORS

  • Acquisition strengthens SNDL's financial position.
  • SNDL becomes senior secured creditor of Delta 9, gaining priority in asset claims.
  • Total indebtedness from Delta 9 to SNDL reaches CAD $40.7 million.

Full Press Release Details

SNDL Acquires Delta 9 Cannabis' Debt, Ascends
to Senior Secured Creditor Status
CALGARY, AB, July 5, 2024 /CNW/ - SNDL Inc. (Nasdaq:
SNDL) ("SNDL" or "The Company") today announced that it has completed the acquisition (the "Debt
Acquisition") of the principal indebtedness (the "Purchased Indebtedness") of Delta 9 Cannabis Inc. ("Delta
9") from Connect First and Servus Credit Union Ltd. ("CFCU") for a purchase price of CAD $28,138,284 pursuant
to a purchase and sale of indebtedness agreement dated July 5, 2024.
As a result of the Debt Acquisition, SNDL has become
Delta 9's senior secured creditor with a first priority security interest in all of the assets of Delta 9 and certain Delta 9 subsidiaries.
The Purchased Indebtedness brings Delta 9's total indebtedness owing to SNDL to CAD $40,653,352.
SNDL is a public company whose shares are traded on
the Nasdaq under the symbol "SNDL." SNDL is the largest private-sector liquor and cannabis retailer in Canada with retail banners
that include Ace Liquor, Wine and Beyond, Liquor Depot, Value Buds, Spiritleaf, and Firesale Cannabis. SNDL is a licensed cannabis producer
and one of the largest vertically integrated cannabis companies in Canada specializing in low-cost biomass sourcing, premium indoor cultivation,
product innovation, low-cost manufacturing facilities, and a cannabis brand portfolio that includes Top Leaf, Contraband, Palmetto,
Bon Jak, Versus, Value Buds, and Vacay. SNDL's investment portfolio seeks to deploy strategic capital through direct and indirect investments
and partnerships throughout the North American cannabis industry. For more information on SNDL, please go to https://sndl.com/.
View original content to download multimedia:https://www.prnewswire.com/news-releases/sndl-acquires-delta-9-cannabis-debt-ascends-to-senior-secured-creditor-status-302190280.html
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/July2024/05/c0425.html
For further information: For more information: Sophie Pilon, SNDL
Inc., O: 1.587.327.2017, E: investors@sndl.com
CNW 21:15e 05-JUL-24

Frequently Asked Questions

What debt did SNDL acquire from Delta 9 Cannabis?

SNDL acquired Delta 9's principal indebtedness for CAD $28,138,284.

What is SNDL's status after acquiring Delta 9's debt?

SNDL has become Delta 9's senior secured creditor with a first priority interest.

How much total indebtedness does Delta 9 owe SNDL?

Delta 9's total indebtedness to SNDL now totals CAD $40,653,352.

What does SNDL specialize in?

SNDL specializes in cannabis retail, production, and innovative product solutions.

Where can I find more information about SNDL?

More information about SNDL is available at their website, sndl.com.

Tags: SNDL Viatris Investor Conferences Healthcare Delta 9 Cannabis debt acquisition senior secured creditor CAD
Last updated: Jul 5, 2024