Calgary-based pot retailer SNDL Inc. says it is buying four Dutch Love cannabis stores from Lightbox Enterprises Ltd.<\/p>\n
SNDL says it is paying $7.8 million for three stores in B.C., one in Ontario and the right to use some of Dutch Love's intellectual property.<\/p>\n
Around $1.5 million of the price will be paid in cash, $3 million will come in the form of cancelled debt owed by Lightbox to SNDL and $3.3 million will be paid in common shares of SNDL.<\/p>\n
The stores SNDL will acquire generated a combined annual revenue of $11.5 million in 2022, with an average gross margin of 36.5 per cent.<\/p>\n
The deal is anticipated to close by the end of May, and is the result of a sale and investment solicitation process undertaken by Lightbox as part of its proceedings under the Companies' Creditors Arrangement Act.<\/p>\n
The expected close will be concurrent with the proposed restructuring of Nova Cannabis Inc. and SNDL.<\/p>\n
This report by The Canadian Press was first published March 28, 2023.<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
Calgary-based pot retailer SNDL Inc. says it is buying four Dutch Love cannabis stores from Lightbox Enterprises Ltd. SNDL says it is paying $7.8 million for three stores in B.C., one in Ontario and the right to use some of Dutch Love's intellectual property. Around $1.5 million of the price will be paid in cash, […]<\/p>\n","protected":false},"author":362,"featured_media":960,"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":"The Canadian Press","published":"2023-03-28T08:57:11","updated":"2023-03-30T22:00:00","_infotelid":"IT97543","_prepressid":"97543","_multisite_post_sync":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[379,2,391,381],"tags":[],"region":[309,310,311,312],"class_list":["post-961","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured3","category-in420","category-nonit","category-topnews","region-kamloops","region-kelowna","region-penticton","region-vernon"],"blocksy_meta":{"styles_descriptor":{"styles":{"desktop":"","tablet":"","mobile":""},"google_fonts":[],"version":8}},"post_modified":"2023-03-30T22:00:00","post_modified_gmt":"2023-03-31T05:00:00","jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/staging.infonews.ca\/in420\/wp-content\/uploads\/sites\/3\/MediaItemID97543-3982.jpg","_links":{"self":[{"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/posts\/961","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\/362"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/comments?post=961"}],"version-history":[{"count":2,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/posts\/961\/revisions"}],"predecessor-version":[{"id":3452,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/posts\/961\/revisions\/3452"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/media\/960"}],"wp:attachment":[{"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/media?parent=961"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/categories?post=961"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/tags?post=961"},{"taxonomy":"region","embeddable":true,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/region?post=961"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}