{"id":1010861,"date":"2026-10-15T18:54:42","date_gmt":"2026-10-15T22:54:42","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/sndl-announces-2026-annual-and-special-shareholders-meeting-results-select-preliminary-third-quarter-results-and-capital-return-initiatives\/"},"modified":"2026-10-15T18:54:42","modified_gmt":"2026-10-15T22:54:42","slug":"sndl-announces-2026-annual-and-special-shareholders-meeting-results-select-preliminary-third-quarter-results-and-capital-return-initiatives","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/sndl-announces-2026-annual-and-special-shareholders-meeting-results-select-preliminary-third-quarter-results-and-capital-return-initiatives\/","title":{"rendered":"SNDL Announces 2026 Annual and Special Shareholders Meeting Results, Select Preliminary Third Quarter Results and Capital Return Initiatives"},"content":{"rendered":"

\nCompany intends to accelerate return of capital following record quarterly free cash flow of approximately C$20 million
\n<\/h2>\n
\n

EDMONTON, Alberta, Oct. 15, 2026 (GLOBE NEWSWIRE) — SNDL Inc. (“SNDL<\/strong>” or the “Company<\/strong>“) today announced the results of its 2026 Annual and Special Meeting of Shareholders (the “Meeting<\/strong>“), provided select preliminary third quarter 2026 financial results and outlined its capital allocation and strategic priorities.<\/p>\n

\n 2026 Annual and Special Meeting Results<\/strong>\n <\/p>\n

Shareholders elected all five director nominees standing for election at the Meeting and approved the appointment of the Company\u2019s auditor. The resolution fixing the number of directors at five received 89.8% of the votes cast in favour, and the appointment of the auditor received 86.2% support. Each director nominee was elected with a majority of votes cast in favour.<\/p>\n

The special resolution authorizing a potential consolidation of SNDL\u2019s common shares received 54.1% of the votes cast in favour and therefore did not receive the required two-thirds approval. Accordingly, the Company will not proceed with the proposed share consolidation under the authority sought at the Meeting. Detailed voting results will be filed on SEDAR+ and furnished with the Company\u2019s applicable filings in the United States.\u00a0<\/p>\n

\n Preliminary Third Quarter Results<\/strong>\n <\/p>\n\n\n\n\n
\n Preliminary Q3 2026 Metric<\/strong>\n <\/td>\n\n Expected Result<\/strong>
\n
\n \u00a0<\/strong>\n <\/td>\n<\/tr>\n
Free Cash Flow(1)<\/sup><\/td>\nApproximately C$20 million<\/strong>
\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

(1)\u00a0\u00a0 Free cash flow is a specified financial measures that does not have standardized meanings prescribed by IFRS and therefore may not be comparable to similar measures reported by other companies. See \u201cNon-IFRS Financial Measures\u201d section below for further information.<\/p>\n

\n A result of free cash flow of approximately C$20 million would represent the highest quarterly free cash flow result in SNDL\u2019s history. <\/strong>Free cash flow benefited from approximately C$10.6 million associated with the initial unwinding of the Company\u2019s captive insurance arrangement, net of related premium payments, as well as working capital initiatives and cash generation across the business.<\/p>\n

The preliminary financial information contained in this release is unaudited and remains subject to completion of SNDL\u2019s quarter-end closing and review procedures. The Company expects to report its complete third quarter 2026 financial results in accordance with its previously announced reporting schedule.<\/p>\n

\n Continued Return of Capital to Shareholders<\/strong>\n <\/p>\n

SNDL remains focused on disciplined capital allocation, maintaining balance sheet strength and increasing long-term value of its shares.<\/p>\n

During the third quarter of 2026, SNDL repurchased approximately 5.4 million common shares under its existing share repurchase program. This brings SNDL\u2019s repurchases over the 12 months ended September 30, 2026 to approximately 21.8 million common shares for approximately C$43.4 million, representing a significant return of capital to shareholders while meaningfully reducing the Company\u2019s outstanding share count.<\/p>\n

Additionally, the Company\u2019s Board of Directors (the \u201cBoard<\/strong>\u201d) has directed management to pursue a possible substantial issuer bid (\u201cSIB<\/strong>\u201d) for an aggregate purchase price not exceeding C$50 million and a price per share not greater than C$1.92 (US$1.35), representing a 17.4% premium to the closing price of the Company\u2019s shares on Nasdaq on October 14, 2026. Any formal launch of the SIB is subject to applicable exchange and cross-border regulatory approvals and would occur after the Company reports third quarter earnings.\u00a0 The Company had 243,761,544 common shares issued and outstanding as of close of business on October 14, 2026.\u00a0<\/p>\n

The Company also intends to renew its share repurchase program, which is by way of normal course issuer bid (the \u201cRepurchase<\/strong>Program<\/strong>\u201d), following its expiry on November 20, 2026, subject to Board and applicable exchange and regulatory approvals. The renewed Repurchase Program is expected to provide SNDL with continued flexibility to repurchase shares at such times when the Company believes that using capital for this purpose is in the best interests of the Company. If SNDL pursues a SIB, it will not operate concurrently with the Repurchase Program in accordance with applicable laws.<\/p>\n

\n \u201cFor the third quarter, we expect to report the highest quarterly free cash flow in SNDL\u2019s history,\u201d <\/em>said Zach George, Chief Executive Officer of SNDL. \u201cWe remain focused on capturing the many opportunities available to further optimize our operating footprint, enhance performance and create a scalable platform for profitable growth.\u201d<\/em><\/p>\n

\n \u201cWe respect the outcome of the vote and have listened carefully to our shareholders. Shareholder feedback emphasized a desire for an accelerated return of capital, with only a simple majority supporting a share consolidation at this time. Our capital allocation priorities remain clear: maintain balance sheet strength, invest selectively in opportunities that support long-term growth and return capital where we believe it will create the greatest long-term value for shareholders. Over the past 12 months, we have returned more than C$43 million to shareholders through share repurchases, and the Company intends to explore additional, accelerated mechanisms to return capital to shareholders while reducing our outstanding share count.\u201d<\/em>\n <\/p>\n

\n Strategic Update<\/strong>\n <\/p>\n

SNDL continues to simplify its business, improve operating performance and position the Company for profitable growth.<\/p>\n