SNDL INC Stock Price, News & Analysis

Sundial Growers has announced a $50 million prepayment on its senior secured non-revolving term credit facility, improving its balance sheet and reducing annual interest costs by $2.5 million. The company now holds $22 million in outstanding debt and approximately $39 million in unrestricted cash. CFO Jim Keough stated this repayment enhances financial flexibility and supports a path to positive cash flow from operations. Sundial maintains a significant presence in cannabis cultivation with a focus on quality and consumer experience.

Sundial Growers has received approval to transfer its common shares listing to the Nasdaq Capital Market, effective December 15, 2020. This move allows the company an additional 180 days to comply with Nasdaq's minimum bid price requirement. Sundial must maintain a share price of at least $1.00 for 10 consecutive business days before June 26, 2021, to regain compliance. The company has indicated it may consider options such as a reverse stock split if necessary.

Sundial Growers announced it has filed a universal shelf registration statement with the SEC for the potential offer and sale of securities up to US$200 million. Additionally, Sundial has filed a preliminary prospectus for an at-the-market equity program, targeting US$150 million in common shares. Proceeds from the ATM program will primarily be used to reduce debt and finance potential business acquisitions, equipment, or general corporate purposes. The registration, however, is not yet effective, limiting immediate sales or offers of the securities.

Sundial Growers Inc. (NASDAQ: SNDL) announced the full conversion of its senior secured second lien convertible notes, totaling $73.2 million, which were issued on June 5, 2020. The company now holds $72 million in remaining secured debt and has raised $117 million in net cash through recent equity issuances. With 744 million shares outstanding and $85 million in unrestricted cash, Sundial aims to stabilize its financial footing while pursuing profitability. The CFO emphasized that the capital-raising efforts, although pressuring share prices, are vital for long-term viability.

Sundial Growers Inc. (Nasdaq: SNDL) announced its participation in Cowen's 2020 Boston Cannabis Conference, taking place virtually from November 30 to December 2, 2020. CEO Zach George will join a panel discussion at 10:10 a.m. EST on December 2. As a licensed producer operating in Alberta, Sundial utilizes a 'craft-at-scale' approach to cannabis cultivation across 470,000 square feet, offering brands like Top Leaf and Sundial Cannabis.

Sundial Growers (SNDL) reported a net cannabis revenue of $12.9 million for Q3 2020, down 36% from Q2 2020, as branded sales increased to 77% of total sales. Despite experiencing a net loss of $71.4 million, the company reduced its debt by $23 million and improved cash flow, decreasing operational losses by 63%. The average selling price per gram remained stable at $5.53, while gross margin rose to 20%. Sundial's restructuring efforts are focused on a simpler business model and cost reduction to enhance future performance.

Sundial Growers Inc. (NASDAQ: SNDL) has announced a sales and distribution agreement with Choklat Inc., a Health Canada licensed chocolatier. This collaboration aims to launch a cannabis-infused confectionery brand that includes chocolate bars, drinking chocolate, and infused sugar, each containing 10mg of THC, the maximum legal limit per serving in Canada. The products are expected to hit Alberta stores ahead of the holiday season. Sundial will leverage its distribution network while Choklat will handle production and packaging, combining their strengths for market expansion.

Sundial Growers (NASDAQ: SNDL) announced the expansion of its Palmetto brand across Canada. The brand offers a diverse portfolio of premium cannabis products, recently launching dried flowers in Quebec that sold out in two weeks. Chief Experience Officer Ryan Hellard highlighted the brand's appeal to consumers seeking unique cannabis experiences, resulting in accelerated growth since its limited launch last year. Palmetto products are sourced from Sundial’s facility in Olds, Alberta, ensuring high quality. The company continues to innovate with the launch of the Palmetto Portal for interactive consumer engagement.

Sundial Growers Inc. (Nasdaq: SNDL) announced its participation in the virtual Alliance Global Partners Consumer Cannabis Conference on September 29, 2020. CEO Zachary George will engage in one-on-one sessions during the event, which features over 25 leading cannabis and CBD companies. Notably, former U.S. Speaker John Boehner will deliver the keynote address. Sundial, headquartered in Calgary, AB, focuses on cannabis cultivation through innovative methods and has a strong brand portfolio including Top Leaf and Sundial Cannabis.