SNDL Inc. and Nova Cannabis Inc. have announced that they have entered into an arrangement agreement pursuant to which SNDL will acquire all of the issued and outstanding common shares in the capital of Nova not already owned by SNDL, representing approximately 34.8 percent of Nova shares, by way of a statutory plan of arrangement for aggregate consideration of approximately C$40 million.
Bennett Jones is acting as legal counsel to Nova.
The Bennett Jones team on the transaction is led by Jon Truswell (M&A) and includes Greg Johnson and Brendan Sigalet (Tax); Niki Gill and Flutra Kacuri (Corporate); and David Hodge (student).
Read the transaction press release.