SNDL INC - SNDL STOCK NEWS

Sundial Growers reported Q2 2021 results, with net revenue of $18.6 million, a net loss of $52.3 million, and cash reserves of $1.3 billion. Cannabis revenue grew by 8% to $12.7 million, while adjusted EBITDA loss was $0.2 million. The company completed the acquisition of Inner Spirit, enhancing its retail presence. However, Sundial faces challenges in a competitive market and was notified of non-compliance with Nasdaq's minimum bid price. The company has until February 7, 2022, to rectify this issue.

Sundial Growers (NASDAQ: SNDL) announced it will release its second quarter financial results for the period ended June 30, 2021, after market close on August 12, 2021. Following the earnings announcement, the company will host a conference call and webcast on August 13, 2021, at 10:30 a.m. EST. Sundial operates under two segments: Cannabis and Investments, focusing on crafting premium cannabis products and strategic investments in the global cannabis industry.

Sundial Growers (Nasdaq: SNDL) has completed the acquisition of Inner Spirit Holdings, boosting its presence in the Canadian cannabis market. For each Inner Spirit share, shareholders will receive $0.30 in cash and 0.0835 common shares of Sundial. This deal establishes Sundial as Canada's largest single-branded cannabis retailer, adding over 100 Spiritleaf locations across six provinces. The acquisition enhances Sundial's retail expertise and is expected to lead to sustainable profitability, offering insights into consumer trends and marketing.

Sundial Growers announced that all resolutions were approved during its annual general meeting held on July 9, 2021. Key decisions included fixing the board of directors at five members and the re-appointment of KPMG LLP as auditors. The elected directors received substantial shareholder support, with votes such as Greg Mills securing 94.37% approval. Sundial operates in cannabis cultivation in Canada and also engages in investment operations within the cannabis industry.

Sundial Growers has significantly increased its financial commitment to SunStream Bancorp from $188 million to $538 million. This joint venture with SAF Group aims to capitalize on risk-return opportunities in the cannabis sector through various investments. Sundial is focused on cultivating premium cannabis in Canada while also pursuing strategic investments across the global cannabis market. The company's investment operations are expected to enhance its financial portfolio and market presence.

Sundial Growers Inc. (SNDL) announces its Annual General Meeting (AGM) on July 7, 2021, at 1 p.m. MDT, to be held virtually due to COVID-19. Shareholders must submit their voting proxies by July 5, 2021, at 1 p.m. MDT. The company emphasizes shareholder participation in governance, encouraging them to vote their shares. Only registered shareholders and proxyholders will be able to ask questions and vote in real time during the Meeting. Additional voting instructions are available on the company's website and other official platforms.

Sundial Growers (NASDAQ: SNDL) announced its Annual General Meeting (AGM) on July 7, 2021, at 1 p.m. MDT, to be held virtually due to COVID-19. Current Board members Greg Mills, Zach George, Gregory Turnbull, and Bryan Pinney are set for re-election. Lori Ell is nominated for election, bringing over 25 years of executive experience. Dr. Elizabeth Cannon will not stand for re-election. The AGM notice and related documents are available on SEDAR and EDGAR.

Sundial Growers (SNDL) reported its first-ever positive earnings from operations at $1.7 million for Q1 2021, compared to a loss of $32.7 million in Q4 2020. The company achieved an adjusted EBITDA of $3.3 million, reversing a previous loss. Despite a net loss of $134.4 million due to non-cash charges, Sundial maintains a strong cash position with $969.5 million in assets. Revenue fell 30% to $11.7 million, primarily affected by market conditions and COVID-19. The company is focusing on improving cultivation practices and has plans to acquire Inner Spirit Holdings.

Sundial Growers has announced an agreement to acquire Inner Spirit Holdings for approximately $131 million. Each Inner Spirit shareholder will receive $0.39 per share, inclusive of $0.30 in cash and 0.0835 Sundial shares. This represents a premium of 54.8% over Inner Spirit's 10-day VWAP. The transaction, supported by both boards, aims to enhance Sundial's market presence and synergies via Inner Spirit's Spiritleaf retail brand, which boasts 86 stores across Canada. Closing is expected in early Q3 2021, pending shareholder and regulatory approvals.