SNDL INC Stock Price, News & Analysis

Sundial Growers will participate in the Benzinga Cannabis Capital Conference on April 20-21, 2022, at Fontainebleau Miami Beach. CEO Zach George is scheduled to speak at 11:50 a.m. ET on April 20, and a livestream of his interview will be available. The company will also conduct one-on-one investor meetings throughout the event. Sundial operates in three segments: Cannabis Operations, Cannabis and Liquor Retail, and Investment Operations. It is the largest private sector cannabis and liquor retailer in Canada, with shares traded on Nasdaq under the symbol SNDL.

Sundial Growers (SNDL) announced that its external auditor expects to complete the audit and issue the financial statements for the year ended December 31, 2021, by April 29, 2022. This delay is attributed to new requirements for an auditor attestation report on internal controls due to the company’s growth. Sundial will also provide updates regarding a Management Cease Trade Order (MCTO) issued on April 1, 2022, that restricts trading for its CEO and CFO until filings are complete. Sundial remains committed to satisfying regulatory guidelines and ensuring no material undisclosed information exists.

Sundial Growers (SNDL) has received a Management Cease Trade Order (MCTO) from the Alberta Securities Commission due to a delay in filing its audited financial statements for the year ended December 31, 2021, beyond the March 31, 2022 deadline. This order restricts the CEO and CFO from trading the company's securities until the financial statements are filed, although other shareholders remain unrestricted. Sundial expects to complete the filings by April 14, 2022, and confirms no material changes or defaults since its previous announcement.

Sundial Growers Inc. (Nasdaq: SNDL) announced the completion of its acquisition of Alcanna Inc. for approximately $320 million. The acquisition strengthens Sundial's position as the largest private sector cannabis and liquor retailer in Canada, with a combined retail network of over 180 locations. Alcanna's liquor segment generated $25 million in operating cash flow, enhancing Sundial's cash flow stability. Following the acquisition, Sundial holds a 63% equity interest in Nova Cannabis, further expanding its cannabis retail footprint.

Sundial Growers announced its plan to finalize the acquisition of Alcanna on approximately March 31, 2022. All regulatory requirements have been met, pending only customary closing conditions. Additionally, the company is facing a delay in filing its audited financial statements for 2021, now expected by April 14, 2022. Despite the delay, Sundial anticipates reporting record adjusted EBITDA from continuing operations. The delay is due to increased audit requirements under the Sarbanes-Oxley Act, aimed at improving corporate governance.

Sundial Growers Inc. (Nasdaq: SNDL) will release its year-end and fourth quarter financial results for the period ending December 31, 2021, on March 29, 2022, after market close. A conference call and webcast will follow on March 30, 2022, at 10:30 a.m. EST. Sundial operates in three segments: Cannabis Operations, Cannabis Retail (soon to include liquor), and Investment Operations. The company is known for its craft cannabis production and retail experience through its Spiritleaf brand, aiming to provide quality cannabis products.

Sundial Growers announced an extension of the closing date for its arrangement agreement with Alcanna Inc. to March 30, 2022. This extension allows both companies to complete necessary processes associated with the agreement originally dated October 7, 2021, and amended on January 6, 2022. Sundial emphasizes its commitment to executing this transaction, which is part of its broader strategy across three operational sectors: Cannabis Operations, Cannabis Retail, and Investment Operations. Sundial operates several cannabis brands and the Spiritleaf retail chain.

Sundial Growers has received a 180-day extension from Nasdaq to regain compliance with its minimum bid price requirement. Originally notified on August 9, 2021, Sundial was required to achieve a bid price of at least $1.00 per share by February 7, 2022. The new deadline is August 8, 2022, with the company needing to maintain the required share price for 10 consecutive trading days. Sundial is prepared to take steps, including a potential reverse stock split, to meet this requirement.

Sundial Growers (NASDAQ: SNDL) announced that its affiliate, Sunstream Opportunities LP, received a BBB+ investment grade credit rating from Egan-Jones Ratings Company. This rating reflects Sunstream's robust credit portfolio, which includes over CAD$375 million in investments. Zach George, CEO of Sundial, highlighted this achievement as a testament to the company's strong performance. Egan-Jones is a recognized credit rating provider, though a securities rating may be subject to revision. Sundial operates in cannabis production, retail, and investment sectors, focusing on premium cannabis products and strategic capital deployment.