Full Press Release Details
SNDL FILES EARLY WARNING REPORT ISSUED PURSUANT
TO NATIONAL INSTRUMENT 62-103
CALGARY, AB, June 9, 2023 /CNW/ - SNDL Inc. (NASDAQ:
SNDL) ("SNDL") today announced that between February 1, 2023, and June 9, 2023, SNDL disposed of 3,428,000 common shares
("Common Shares") in the capital of Indiva Limited (TSXV: NDVA) (OTCQX: NDVAF) ("Indiva").
Between February 1, 2023, and June 9, 2023, SNDL disposed
of 3,428,000 Common Shares (the "Sold Shares") through the facilities of the TSX Venture Exchange (the "TSXV")
at an average price of $0.0571 per share for a total consideration of $185,488. Prior to the dispositions, SNDL held 22,663,500 Common
Shares, representing approximately 15.59% of the then issued and outstanding Common Shares on a non-diluted basis. As a result, following
the completion of these dispositions, and together with Indiva's various issuances of Common Shares from treasury, SNDL's holdings in
Indiva decreased by 2.66%. Immediately following this disposition, SNDL now holds 19,235,500 Common Shares representing 12.93% of Indiva's
issued and outstanding Common Shares on a non-diluted basis as reported to the TSXV.
The Sold Shares were sold for investment purposes.
SNDL may, depending on market and other conditions, increase or decrease its beneficial ownership in Indiva's securities, whether in transactions
over the open market, by privately negotiated arrangements or otherwise, subject to a number of factors, including general market conditions
and other available investment and business opportunities.
This news release is being issued to comply with National
Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues. An early warning report regarding
these transactions has been filed on the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com under
Indiva's issuer profile and may be obtained directly from SNDL upon request at the telephone number below and from the individual listed
below. SNDL's head office is located at #300, 919 - 11th Avenue SW, Calgary, AB T2R 1P3.
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, 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 Information Cautionary 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, SNDL's future plans or intentions in respect of its ownership of Common Shares.
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. SNDL 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/June2023/09/c3227.html
For further information: Sophie Pilon, SNDL Inc., O: 1.587.327.2017,
CO: Sundial Growers Inc.
CNW 19:40e 09-JUN-23