SNDL - Cannabis Giant SNDL Is Taking Care Of Other Companies' Debts Expects To Acquire Shares Of Canadian Cannabis Edibles Producer | Benzinga
SNDL Inc. (NASDAQ:SNDL) said on Friday that it has entered into a purchase agreement with cannabis edibles producer Indiva Limited (OTC:NDVAF) and its subsidiaries.
What Happened
Under the deal SNDL offered to buy all of the issued and outstanding shares of Indiva and the business and assets of the Indiva Group.
The considerations for the deal include:
- A credit bid of all of the indebtedness of the Indiva Group owing to SNDL;
- the retention of certain liabilities of the Indiva Group; and
- cash payments sufficient to repay certain priority indebtedness of the Indiva Group and costs associated with the Indiva Group’s proceedings under the companies’ Creditors Arrangement Act.