Full Press Release Details
SNDL Expands its Wine and Beyond Banner into
CALGARY, AB, March 3, 2023 /CNW/ - SNDL Inc. (Nasdaq:
SNDL) ("SNDL" or the "Company") announced today that it has successfully obtained two liquor retail
licenses in Regina and Saskatoon, through the Saskatchewan Liquor and Gaming Authority ("SLGA") auction. The Company will leverage
these licenses to expand its premium liquor banner, Wine and Beyond, into the final stage of the liquor retail transition to the private
sector in Saskatchewan.
"We are excited to bring our Wine and Beyond
banner into Saskatchewan, specifically in the key markets of Regina and Saskatoon," said Tank Vander, President of Liquor Retail
at SNDL. "Due to Saskatchewan's low distribution of liquor licenses and high liquor sales per capita, SNDL expects stable and accretive
growth in the two new stores. We are eager to introduce consumers to the Wine and Beyond brand, as we believe there is demand in the market
for a premium liquor retail model."
The Company's 12 operating Wine and Beyond locations
generated $135 million in revenue on an annualized basis for the three months ended September 30, 2022. This demonstrates the banner's
continued popularity and robust store performance, which SNDL anticipates will extend to the Saskatchewan market. Wine and Beyond's
initial launch in the two largest Saskatchewan cities will help SNDL to evaluate future expansion opportunities in the province.
With 11 stores in Alberta and one store in British
Columbia, Wine and Beyond is a premier destination liquor retailer in Western Canada. The new stores in Saskatchewan are a testament to
the Company's continued growth and commitment to providing customers with exceptional service and quality products. SNDL will begin sourcing
real estate and expects the stores to be operational in the province in the next 18 months.
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, and Spiritleaf. 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, Citizen Stash, Sundial Cannabis, Palmetto, Bon Jak, Spiritleaf Selects, Versus Cannabis, Value Buds, Vacay, Grasslands
and Superette. 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 www.sndl.com.
Forward-Looking Statement
This news release includes statements containing certain
"forward-looking information" within the meaning of applicable securities law ("forward-looking statements"). Forward-looking
statements in this release includes, but is not limited to, annual production and the potential expansion plans of the Company in Canada
and internationally, the Company's ability to provide uninterrupted supply to its customer, and statements regarding the future performance
of the Company. Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect",
"project", "intend", "believe", "anticipate", "estimate", "may", "will",
"potential", "proposed" and other similar words, or statements that certain events or conditions "may" or
"will" occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the
projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions
and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors
that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Company is
under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise, except as expressly required by applicable law.
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SOURCE Sundial Growers Inc.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/March2023/03/c3214.html
For further information: Sophie Pilon, SNDL Inc., O: 1.587.327.2017,
CO: Sundial Growers Inc.
CNW 07:00e 03-MAR-23