DLTNF - SNDL Acquires Connect First Debt and Becomes Senior Secured Creditor of Delta 9
(TheNewswire)
WINNIPEG, MB – TheNewswire - July 8, 2024 – DELTA 9 CANNABIS INC. (TSX: DN)(OTC: DLTNF) (“ Delta 9 ” or the “ Company ”)announces today that on July 5, 2024, SNDL Inc. (“ SNDL ”) acquired theentire indebtedness of the Company held by Connect First andServus Credit Union Ltd. for an aggregate purchase price of$28,138,284.
Accordingly, SNDL, which is now owed an aggregate ofapproximately $40,653,352 by the Company , hasbecome the senior secured creditor of the Company witha first priority security interest in all of the assets of the Company and certain of the Company’s subsidiaries.
In the coming days, the Company plansto discuss the status of this indebtedness with SNDL.
About Delta 9 Cannabis Inc.
Delta 9 Cannabis Inc. is a vertically integratedcannabis company focused on bringing the highest
quality cannabis products to market. The Company sells cannabis products through its wholesale
and retail sales channels and sells its cannabis growpods to other businesses. Delta 9’s wholly-owned subsidiary, Delta 9Bio-Tech Inc., is a licensed producer of medical andrecreational
cannabis and operates a 95,000 square foot productionfacility in Winnipeg, Manitoba, Canada.
Delta 9 owns and operates a chain of retail storesunder the Delta 9 Cannabis Store brand. Delta
9’s shares trade on the Toronto Stock Exchange underthe symbol “DN” and on the OTC under
the symbol “DLTNF”. For more information, pleasevisit www.delta9.ca.
Disclaimer forForward-Looking Information
Certain statements in this release are forward-lookingstatements, which reflect the expectations of management regarding the Company’s future business plans andother matters. Forward-looking statements consist of statements thatare not purely historical, including any statements regarding beliefs,plans, expectations or intentions regarding the future. Suchstatements are subject to risks and uncertainties that may causeactual results, performance or developments to differ materially fromthose contained in the statements, including with respect to futurenegotiations between Delta 9 and SNDL as well as all risk factors setforth in the annual information form of Delta 9 dated March 28, 2024which has been filed on SEDAR+. No assurance can be given that any ofthe events anticipated by the forward-looking statements will occuror, if they do occur, what benefits the Company willobtain from them. Readers are urged to consider these factorscarefully in evaluating the forward-looking statements contained inthis news release and are cautioned not to place undue reliance onsuch forward looking statements, which are qualified in their entiretyby these cautionary statements. These forward looking statements aremade as of the date hereof and the Company disclaims any intent or obligation to update publicly anyforward-looking statements, whether as a result of new information,future events or results or otherwise, except as required byapplicable securities laws.
Copyright (c) 2024 TheNewswire - All rights reserved.