1CM Receives Court Approval for Arrangement with SNDL Inc

Rhea-AI Summary

1CM Inc. (MILFF) has received approval from the Ontario Superior Court of Justice for its previously announced arrangement with SNDL Inc. The deal involves SNDL acquiring 32 cannabis retail stores operating under the Cost Cannabis and T Cannabis brands across Ontario, Alberta, and Saskatchewan. The arrangement is expected to close in Q3 2025, subject to satisfaction of remaining closing conditions and outstanding regulatory approvals. The stores are strategically located across three major Canadian provinces, representing a significant expansion of SNDL's retail footprint.

Positive

• Court approval represents a significant milestone in completing the acquisition
• Strategic expansion of SNDL's retail presence across three major Canadian provinces
• Consolidation in the cannabis retail sector may lead to improved operational efficiency

Negative

• Transaction completion still subject to regulatory approvals and closing conditions
• Potential integration challenges in merging retail operations across multiple provinces

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Toronto, Ontario--(Newsfile Corp. - June 18, 2025) - 1CM Inc. (CSE: EPIC) (OTCQB: MILFF) (FSE: IQ70) ("1CM" or the "Company") is pleased to announce that the Ontario Superior Court of Justice (Commercial List) has approved its previously announced plan of arrangement involving SNDL Inc. ("SNDL"), pursuant to which SNDL will, among other things, acquire 32 cannabis retail stores operating under the Cost Cannabis and T Cannabis banners in Ontario, Alberta and Saskatchewan (the "Arrangement").

Completion of the Arrangement remains subject to the satisfaction of certain closing conditions, including certain outstanding regulatory approvals. Subject to the satisfaction or waiver of all of the conditions to the closing of the Arrangement, the Arrangement is expected to be completed in the third quarter of 2025.

About 1CM Inc.

1CM Inc. is a retailer of cannabis and liquor in Canada with a track record of developing cash-flow positive locations. Following closing of the Arrangement, 1CM expects to continue to develop new cannabis and liquor retail locations through organic growth and by way of future merger and acquisition transactions. For more information, please visit www.1CMinc.com.

For more information, please contact:

Harshil Chovatiya
1CM Inc.
Tel: (717) 888-8889
info@1cminc.com

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS:

Certain information set forth in this news release may contain certain "forward-looking statements" within the meaning of applicable securities law ("Forward-looking statements"), including, but not limited to, statements regarding the timing for closing of the Arrangement. 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 the risk factors discussed in the management information circular of 1CM dated May 12, 2025 and in 1CM's annual and quarterly management's discussion and analysis, for a discussion of the material risk factors that could cause actual results to differ materially from the forward-looking information. 1CM is not under any 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/256040

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is the acquisition deal between SNDL and 1CM Inc. (MILFF)?

SNDL is acquiring 32 cannabis retail stores from 1CM Inc., operating under the Cost Cannabis and T Cannabis banners across Ontario, Alberta, and Saskatchewan.

When is the SNDL-1CM acquisition expected to close?

The acquisition is expected to close in the third quarter of 2025, subject to regulatory approvals and closing conditions.

How many stores is SNDL acquiring from 1CM (MILFF)?

SNDL is acquiring 32 cannabis retail stores operating under the Cost Cannabis and T Cannabis brands.

Which provinces are the 1CM cannabis stores located in?

The cannabis retail stores are located across three Canadian provinces: Ontario, Alberta, and Saskatchewan.

What approvals has the SNDL-1CM deal received so far?

The deal has received approval from the Ontario Superior Court of Justice (Commercial List) and is awaiting remaining regulatory approvals.