CALGARY – Sundial Growers Inc. says it will purchase cannabis company Inner Spirit Holdings Ltd. in a $131-million deal.<\/p>\n<\/p>\n
The transaction will hand 86 Spiritleaf pot stores Inner Spirit owns and franchises to Sundial, which is a licensed producer of craft cannabis.<\/p>\n<\/p>\n
Inner Spirit\u2019s shareholders will receive 30 cents and 0.0835 of a Sundial common share for every Inner Spirit share they hold. <\/p>\n<\/p>\n
The offer amounts to roughly 39 cents per Inner Spirit share and is a 62.5 per cent premium based on the company’s closing shares price on Tuesday.<\/p>\n<\/p>\n
The Calgary-based companies say the deal will provide “modest” synergies and help Sundial become a stronger and more diverse cannabis company.<\/p>\n<\/p>\n
The transaction has been unanimously approved by Sundial and Inner Spirit’s board of directions, but still needs the approval of two-thirds of Inner Spirit shareholders, who will vote on the transaction in July.<\/p>\n<\/p>\n
The companies expect the deal to close early in the third quarter of this year.<\/p>\n<\/p>\n
This report by The Canadian Press was first published May 5, 2021.<\/p>\n<\/p>\n
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CALGARY – Sundial Growers Inc. says it will purchase cannabis company Inner Spirit Holdings Ltd. in a $131-million deal. The transaction will hand 86 Spiritleaf pot stores Inner Spirit owns and franchises to Sundial, which is a licensed producer of craft cannabis. Inner Spirit\u2019s shareholders will receive 30 cents and 0.0835 of a Sundial common […]<\/p>\n","protected":false},"author":522,"featured_media":1631,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"guid":"","source":"The Canadian Press","byline":"","published":"2021-05-05T03:03:48","updated":"","_infotelid":"CP684783374","_prepressid":"","_multisite_post_sync":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[383,2,381],"tags":[],"region":[309,310,311,312],"class_list":["post-328","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-in420","category-topnews","region-kamloops","region-kelowna","region-penticton","region-vernon"],"blocksy_meta":{"styles_descriptor":{"styles":{"desktop":"","tablet":"","mobile":""},"google_fonts":[],"version":8}},"post_modified":"2021-05-05T10:03:48","post_modified_gmt":"2021-05-05T17:03:48","jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/staging.infonews.ca\/in420\/wp-content\/uploads\/sites\/3\/20210505120548-6092cd2a6dca9379a8ce15f2jpeg.jpg","_links":{"self":[{"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/posts\/328","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/users\/522"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/comments?post=328"}],"version-history":[{"count":3,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/posts\/328\/revisions"}],"predecessor-version":[{"id":3810,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/posts\/328\/revisions\/3810"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/media\/1631"}],"wp:attachment":[{"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/media?parent=328"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/categories?post=328"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/tags?post=328"},{"taxonomy":"region","embeddable":true,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/region?post=328"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}