SNDL and Nova Cannabis Complete the Assignment of Dutch Love Stores to Nova Cannabis
CALGARY, AB, May 9, 2024 /PRNewswire/ - SNDL Inc. (Nasdaq: SNDL) ("SNDL") and Nova Cannabis Inc. (TSX: NOVC) ("Nova") today announced that they have completed the assignment of SNDL's rights to own or operate four Dutch Love stores (the "Dutch Love Stores") to Nova (the "Assignment"), upon the terms announced on April 1, 2024.
- CALGARY, AB, May 9, 2024 /PRNewswire/ - SNDL Inc. (Nasdaq: SNDL) ("SNDL") and Nova Cannabis Inc. (TSX: NOVC) ("Nova") today announced that they have completed the assignment of SNDL's rights to own or operate four Dutch Love stores (the "Dutch Love Stores") to Nova (the "Assignment"), upon the terms announced on April 1, 2024.
- "We are excited to transition these stores to the Value Buds banner, marking our entry into the B.C.
- As consideration for the Assignment, Nova issued to SNDL $8.179 million of Nova shares based on the 20-day VWAP of the Nova shares on March 28, 2024.
- The addition of the Dutch Love Stores brings Nova's total store count to 99 and SNDL's direct and indirect cannabis store count across all retail banners to 188.