Sunstream Bancorp Announces A Receivership Court Order Granting The Sale Of Certain Assets Of Greenpeak Industries And Certain Affiliated Entities D.B.A. Skymint To Skymint Acquisition, A Newly Formed Designee Entity Of Tropics LP, A JV Sponsor By SNDL
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SunStream Bancorp has announced a court order granting the sale of certain assets of Greenpeak Industries and affiliated entities, Skymint, to Skymint Acquisition Co., a designee entity of Tropics LP, fully owned by an affiliate of Sunstream and sponsored by SNDL Inc. The sale is part of Skymint's ongoing restructuring and is expected to close in Q1 2024, subject to regulatory approval. The assets include 21 retail leases with dispensaries that produced annualized sales of approximately $68 million in September 2023.
October 13, 2023 | 12:42 pm
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SNDL Inc., as a sponsor of Tropics LP, is indirectly involved in the acquisition of Skymint's assets. The successful completion of the sale could potentially strengthen SNDL's position in the cannabis industry.
SNDL Inc. is a sponsor of Tropics LP, which is acquiring Skymint's assets. This acquisition could potentially increase SNDL's influence and reach in the cannabis industry, which could positively impact its stock price in the short term.
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IMPORTANCE 70
RELEVANCE 75