SNDL (NASDAQ: SNDL) completes buy of 5 cannabis stores from 1CM

Rhea-AI Filing Summary

SNDL Inc. has completed the purchase of 5 cannabis retail stores in Alberta and Saskatchewan from 1CM Inc., marking the first closing under their amended and restated arrangement agreement dated December 15, 2025. A second and final closing is expected in the first half of 2026 for 27 additional cannabis retail stores in Ontario, subject to required regulatory approvals. Both companies describe themselves as active retail operators in cannabis and liquor across Canada, with SNDL highlighting a broad portfolio of retail banners and cannabis brands.

Insights

Cannabis retail and M&A analyst

SNDL closes 5-store deal with 1CM and plans 27 more Ontario stores, pending approvals.

SNDL Inc. has completed the acquisition of 5 cannabis retail stores in Alberta and Saskatchewan from 1CM Inc., representing the first closing under their amended and restated arrangement agreement dated December 15, 2025. This adds immediately operating locations to SNDL’s existing liquor and cannabis retail network in Western Canada.

The parties state that a second and final closing is anticipated in the first half of 2026 for 27 additional cannabis retail stores in Ontario, subject to obtaining required regulatory approvals. The staged structure means regulatory outcomes will determine whether the larger Ontario component proceeds as planned.

Investors following these companies can pay attention to future disclosures around the Ontario closing in the first half of 2026, including confirmation of regulatory approvals and any updates on the number of stores included at final closing.

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

Form 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of January 2026

Commission File Number: 001-39005

SNDL Inc.
(Translation of registrant's name into English)

#101, 17220 Stony Plain Road NW
Edmonton, AB T5S 1K6
Tel.: (780) 944-9994
(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F [   ]      Form 40-F [ X ]

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

		SNDL Inc.
		(Registrant)
Date: January 7, 2026		/s/ Alberto Paredero Quiros
		Alberto Paredero Quiros
		Chief Financial Officer

EXHIBIT INDEX

Exhibit Number		Description
99.1		Press Release dated January 7, 2026

EXHIBIT 99.1

SNDL & 1CM Complete Purchase and Sale of 5 Retail Stores in Alberta and Saskatchewan

EDMONTON, Alberta and TORONTO, Jan. 07, 2026 (GLOBE NEWSWIRE) -- SNDL Inc. (Nasdaq: SNDL, CSE: SNDL) (“SNDL”) and 1CM Inc. (CSE: EPIC) (OTCQB: MILFF) (FSE: IQ70) (“1CM”) are pleased to announce that SNDL has completed the acquisition of 5 cannabis retail stores located in Alberta and Saskatchewan from 1CM.

The transaction represents the completion of the first closing pursuant to the amended and restated arrangement agreement dated December 15, 2025 (the “A&R Arrangement Agreement”). As previously announced, it is anticipated that the second (and final) closing will occur sometime in the first half of 2026, in respect of 27 additional cannabis retail stores located in Ontario, subject to obtaining the required regulatory approvals.

ABOUT SNDL INC.

SNDL Inc. (NASDAQ: SNDL, CSE: SNDL), through its wholly owned subsidiaries, is one of the largest vertically integrated cannabis companies and the largest private-sector liquor and cannabis retailer in Canada, with retail banners that include Ace Liquor, Wine and Beyond, Liquor Depot, Value Buds and Spiritleaf. With products available in licensed cannabis retail locations nationally, SNDL's consumer facing cannabis brands include Top Leaf, Contraband, Palmetto, Bon Jak, La Plogue, Versus, Value Buds, Grasslands, Vacay, Pearls by Grön, No Future and Bhang Chocolate. SNDL's investment portfolio seeks to deploy strategic capital through direct and indirect investments and partnerships throughout the North American cannabis industry. For more information, please visit www.sndl.com.

ABOUT 1CM INC.

1CM Inc. is a retailer of cannabis and liquor in Canada with a track record of developing cash-flow positive locations. 1CM’s business strategy is to continue to develop new cannabis and liquor retail locations through organic growth and merger and acquisition transactions. For more information, please visit www.1CMinc.com.

For more information contact: 

For SNDL:

Tomas Bottger
SNDL Inc. 
O: 1.587.327.2017 
E: investors@sndl.com

For 1CM:

Harshil Chovatiya
1CM Inc.
O: 1.717.888.8889
E: info@1cminc.com

Forward-Looking Information

This news release includes statements containing certain "forward-looking information" within the meaning of applicable securities law ("forward-looking statements"), including, but not limited to, statements regarding the anticipated closing, and timing thereof, of the purchase and sale of the Ontario stores. 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, including that the required regulatory approvals will be obtained. 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 "Risk Factors" in SNDL's Annual Information Form dated March 17, 2025, and the risk factors included in the parties’ other public disclosure documents, including the risk factors discussed 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. Neither SNDL nor 1CM are under any obligation, and each 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.   

FAQ

What did SNDL (SNDL) announce in this Form 6-K?

SNDL Inc. reported that it has completed the acquisition of 5 cannabis retail stores in Alberta and Saskatchewan from 1CM Inc., representing the first closing under an amended and restated arrangement agreement dated December 15, 2025.

How many stores remain to be acquired under the SNDL and 1CM agreement?

The companies state that a second and final closing is anticipated in the first half of 2026 for 27 additional cannabis retail stores located in Ontario, subject to required regulatory approvals.

What is the timing for the second closing between SNDL and 1CM?

The second closing, covering 27 Ontario cannabis retail stores, is expected to occur sometime in the first half of 2026, provided the required regulatory approvals are obtained.

Who are the counterparties in this cannabis retail store transaction?

The transaction is between SNDL Inc., described as a large vertically integrated cannabis and liquor retailer in Canada, and 1CM Inc., a Canadian retailer of cannabis and liquor focused on developing cash-flow positive locations.

What does the amended and restated arrangement agreement cover for SNDL and 1CM?

The amended and restated arrangement agreement dated December 15, 2025 provides for the purchase and sale of cannabis retail stores, with the first closing covering 5 stores in Alberta and Saskatchewan and an anticipated second closing for 27 stores in Ontario.

Are there any conditions to the Ontario cannabis store closing for SNDL and 1CM?

Yes. The companies note that the second and final closing for 27 Ontario cannabis retail stores is subject to obtaining the required regulatory approvals.