Full Press Release Details
Sundial Files Early Warning Report Issued Pursuant
to National Instrument 62-103
CALGARY, AB, Oct. 20, 2021 /CNW/ - Sundial Growers
Inc. (NASDAQ: SNDL) ("Sundial") today announced that between September 3, 2021 and October 19, 2021, Sundial disposed
of 2,336,500 common shares ("Common Shares") in the capital of Indiva Limited (TSXV: NDVA) (OTCQX: NDVAF) ("Indiva").
Between September 3, 2021 and October 19, 2021, Sundial
disposed of 2,336,500 Common Shares of Indiva (the "Indiva Shares") through the facilities of TSX Venture Exchange (the
"TSXV") at an average price of $0.488 per Indiva Share for a total consideration of $1,141,336. Prior to the dispositions, Sundial
held 25,000,000 Common Shares of Indiva, representing approximately 18.58% of the then issued and outstanding Common Shares of Indiva
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, Sundial has decreased its holdings in Indiva by 2.99%. Immediately following this disposition, Sundial now holds
22,663,500 Common Shares of Indiva representing 15.59% of Indiva's issued and outstanding Common Shares on a non-diluted basis.
The Indiva Shares were sold for investment purposes.
Sundial 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 Sundial upon request at the telephone number below. Sundial's head office is located
at #300, 919 - 11th Avenue SW, Calgary, AB T2R 1P3.
ABOUT SUNDIAL GROWERS INC.
Sundial is a public company with Common Shares traded
on Nasdaq under the symbol "SNDL". Our business is reported and analyzed under two operating segments: one being Cannabis and
the other being Investments.
As a licensed producer that crafts small-batch cannabis
using state-of-the-art indoor facilities, our 'craft-at-scale' modular growing approach, award-winning genetics and experienced growers
set us apart. Sundial's brand portfolio includes Top Leaf, Sundial Cannabis, Palmetto and Grasslands. Sundial
also operates the Spiritleaf retail banner. Spiritleaf aims to be the most knowledgeable and trusted source of recreational cannabis by
offering a premium consumer experience and quality curated cannabis products.
Our investment operations seek to deploy strategic
capital through direct and indirect investments and partnerships throughout the global cannabis industry.
We are proudly Albertan, headquartered in Calgary,
AB, with operations in Olds and Rocky View County, Alberta, Canada. For more information on Sundial, please go to www.sndlgroup.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"), including,
but not limited to, statements regarding the Sundial's potential further investment in or divestment of Common Shares of Indiva. Forward-looking
statements are frequently characterized by words such as "plan", "continue", "expect", "project",
"intend", "believe", "anticipate", "estimate", "likely", "outlook", "forecast",
"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. Please see "Item 3D Risk Factors" in the Sundial's Annual Report on Form 20-F, which was filed with the Securities
and Exchange Commission ("SEC") on March 17, 2021, and the risk factors included in our other SEC filings for a discussion
of the material risk factors that could cause actual results to differ materially from the forward-looking information. Sundial 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.
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For further information: Sophie Pilon, Corporate Communications,
Sundial Growers Inc., Telephone: 1.587.327.2017, Email: spilon@sundialgrowers.com
CO: Sundial Growers Inc.
CNW 07:00e 20-OCT-21