Full Press Release Details
SNDL and IM Cannabis Complete SNDL's First International
Export of Premium Dried Flower from Canada to Israel
CALGARY, AB and GLIL YAM, Israel, Sept. 15, 2022 /CNW/
- SNDL Inc. (Nasdaq: SNDL) ("SNDL" or the "Company"), Canada's largest regulated products platform,
and IM Cannabis Corp. (Nasdaq: IMCC) (CSE: IMCC) ("IMC"), today announced that SNDL has completed its initial international
export of approximately 167 kilograms of premium dried flower from Canada to Israel as part of its total commitment with IMC. SNDL
and IMC have agreed to the aggregate export of 1,000 kilograms of high-quality dried flower products for processing and distribution in
the Israeli medical cannabis market.
The expansion marks a significant milestone for SNDL
as it enters the global market. "We are pleased with our partnership with IMC, one of Europe's most established and trusted medical
cannabis companies," said Andrew Stordeur, President and Chief Operating Officer of SNDL. "SNDL plans to opportunistically expand
the Company's premium inhalables footprint to international cannabis markets, and this initial endeavour strengthens our pursuits in both
established medical markets and emerging global recreational markets."
For IMC, the completed export marks another major
step forward in streamlining its expansive global operations that include Israel, Canada, and Germany. "The medical cannabis market
in Israel has shifted towards premium and ultra-premium cannabis products. By forming an international partnership with SNDL, we are improving
our global supply chain and enhancing our ability to provide the Israeli market with the high-quality products it has come to expect,"
said Oren Shuster, Chief Executive Officer of IM Cannabis.
SNDL views the international market as an emerging
opportunity to increase revenue from its cannabis operations. The Company is optimistic that an increasing number of global markets will
refine regulations, allowing for lower-barrier access to high-quality cannabis products produced by trusted suppliers from Canada.
SNDL is a public company whose shares are traded on
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, and Spiritleaf. SNDL is a licensed
cannabis producer that uses state-of-the-art indoor facilities to supply wholesale and retail customers under a cannabis brand portfolio
that includes Top Leaf, Sundial Cannabis, Palmetto, Spiritleaf Selects, and Grasslands. SNDL's investment portfolio seeks to deploy strategic
capital through direct and indirect investments and partnerships throughout the global cannabis industry.
For more information on SNDL, please go to https://www.sndl.com/.
About IM Cannabis Corp.
IMC (NASDAQ: IMCC, CSE: IMCC) is a leading international
cannabis company providing premium products to medical patients and adult-use recreational consumers. IMC is one of the very few companies
with operations in Israel, Germany, and Canada, the three largest federally legal markets. The ecosystem created through its international
operations leverages IMC's unique data-driven perspective and product supply chain globally. With its commitment to responsible growth
and financial prudence, and the ability to operate within the strictest regulatory environments, IMC has quickly become one of the leading
cultivators and distributors of high-quality cannabis globally.
In Israel, IMC imports and sells premium and ultra-premium
medical cannabis, operating retail pharmacies, online platforms, distribution centres and logistical hubs through IMC Holdings Ltd. and
its subsidiaries and affiliates, which enable safe delivery and quality control throughout the entire value chain. In Germany, the IMC
ecosystem operates through Adjupharm GmbH, where it also distributes cannabis to pharmacies for medical cannabis patients. In Canada,
IMC operates through Trichome Financial Corp. and its subsidiaries Trichome JWC Acquisition Corp. and MYM Nutraceuticals Inc., where it
cultivates and processes cannabis for the adult-use market at its Ontario and Nova Scotia facilities under the WAGNERS and Highland Grow
brands. For additional information, please visit: https://imcannabis.com/.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:
This press release includes certain "forward-looking
information" and "forward-looking statements" within the meaning of applicable securities laws (collectively, "forward-looking
information"), including statements regarding the plans, intentions, beliefs and current expectations of the Company and IMC with
respect to future business activities and operating performance. Forward-looking information is often, but not always, identified by the
use of words such as "seek", "may", "would", "could", "should", "will", "likely",
"intend", "plan", "anticipate", "believe", "estimate", and "expect" or similar
expressions and statements that an event or result "may", "will", "should", "could" or "might"
occur or be achieved and other similar expressions. Forward-looking information in this press release includes, without limitation, statements
relating to the future export of cannabis from Canada to Israel; improvements in supply chain; enhancing the ability to provide high-quality
cannabis products in Israel; expansion into global cannabis markets; and expectations for other economic, business, and/or competitive
factors. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered
reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events
to differ materially from those expressed or implied by such forward-looking information.
Investors are cautioned that forward-looking information
is not based on historical fact but instead reflects management's expectations, estimates or projections concerning future results or
events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although
the Company and IMC believe that the expectations reflected in such forward-looking information are reasonable, such information involves
risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material
adverse effects on future results, performance or achievements of the Company and IMC. Among the key factors that could cause actual results
to differ materially from those projected in the forward-looking information are the following: regulatory and licensing risks; changes
in consumer demand and preferences; changes in general economic, business and political conditions, including changes in the financial
markets; the global regulatory landscape and enforcement related to cannabis, including political risks and risks relating to regulatory
change; compliance with extensive government regulation; public opinion and perception of the cannabis industry. Readers are cautioned
that the foregoing list of assumptions and risk factors are not exhaustive.
Any forward-looking information included in this
press release is made as of the date of this press release. The Company and IMC do not undertake any intention or obligation to
update or revise any forward-looking information, except as required by applicable securities laws. Investors should not place undue
reliance on forward-looking information. Forward-looking information contained in this press release are expressly qualified by this cautionary
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SOURCE Sundial Growers Inc.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/September2022/15/c9638.html
For further information: Sophie Pilon, Investor Relations and Communications,
SNDL Inc., O: 1.587.327.2017, E: investors@sndl.com; Maya Lustig, Investor Relations and Public Relations, IM Cannabis Corp., O: 972-54-677-8100,
E: maya.l@imcannabis.com; Oren Shuster, CEO, IM Cannabis Corp., O: +972-77-3603504, E: info@imcannabis.com
CO: Sundial Growers Inc.
CNW 09:00e 15-SEP-22