SNDL Agrees To Purchase Remaining Minority Interest In Nova Cannabis For C$1.75/Share
Portfolio Pulse from Benzinga Newsdesk
SNDL has agreed to purchase the remaining 34.8% minority interest in Nova Cannabis for C$1.75 per share, totaling approximately C$40 million. This represents a 41.2% premium to the 20-day VWAP of Nova Shares on the Toronto Stock Exchange as of August 12, 2024.
August 13, 2024 | 11:19 am
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SNDL will acquire the remaining 34.8% of Nova Cannabis for C$1.75 per share, representing a 41.2% premium to the 20-day VWAP. The total deal is valued at approximately C$40 million.
The acquisition of the remaining shares of Nova Cannabis at a premium price is likely to be viewed positively by investors, indicating SNDL's commitment to expanding its stake and potentially enhancing its market position.
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