Sundial-SNDL Announces Renewal of Share Repurchase Program

Core Viewpoint - SNDL Inc. has announced the renewal of its share repurchase program, allowing the company to repurchase up to C $100 million of its outstanding common shares, which aims to return value to shareholders [1][2]. Share Repurchase Program Details - The new Share Repurchase Program will commence on November 21, 2024, and will expire on November 20, 2025, with a maximum repurchase limit of approximately 13.2 million shares, representing 5% of the issued and outstanding shares at the start of the program [3][6]. - The company has the discretion to repurchase shares through various means, including open market purchases and privately negotiated transactions, based on market conditions and regulatory requirements [2][4]. - The actual number of shares repurchased and the timing will be determined by the company, and there is no obligation to repurchase a minimum number of shares [4][5]. Current Share Repurchase Status - Under the current share repurchase program, which began on November 21, 2023, SNDL aimed to repurchase up to C$ 100 million or 13.1 million shares, and as of November 14, 2024, the company had repurchased 727,829 shares at a weighted average price of approximately US$1.97 per share [6]. Company Overview - SNDL is the largest private-sector liquor and cannabis retailer in Canada, operating various retail banners and is a licensed cannabis producer with a diverse brand portfolio [7]. - The company focuses on low-cost biomass sourcing, indoor cultivation, and product innovation within the cannabis industry, aiming to deploy strategic capital through investments and partnerships [7].