{"id":409253,"date":"2021-01-06T07:03:27","date_gmt":"2021-01-06T12:03:27","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=409253"},"modified":"2021-01-06T07:03:27","modified_gmt":"2021-01-06T12:03:27","slug":"sundial-provides-update-of-strategic-investment","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/sundial-provides-update-of-strategic-investment\/","title":{"rendered":"Sundial Provides Update of Strategic Investment"},"content":{"rendered":"
\n

PR Newswire<\/p>\n<\/p><\/div>\n

\n

\n CALGARY, AB<\/span>, Jan. 6, 2021<\/span> \/PRNewswire\/ – Sundial Growers Inc.’s (Nasdaq: SNDL) (“Sundial” or the “Company”) subsidiary special purpose vehicle that owns $51.9 million<\/span> of aggregate principal amount of senior secured debt (the “Senior Loan”), such amount being inclusive of the payment referred to below, of Zenabis Investments Ltd. (“Zenabis”), a subsidiary of Zenabis Global Inc. (the “Parent”) received a principal repayment of $7.0 million<\/span> on December 31, 2020<\/span> (the “Payment”) in accordance with the terms of the Senior Loan.\u00a0 Despite the Payment, a notice of default was delivered to Zenabis with respect to certain defaults under the terms of the Senior Loan.\u00a0 Zenabis is disputing said defaults.\u00a0 <\/p>\n

\n

\n
\n \"Sundial
\n <\/a>\n <\/p>\n<\/p><\/div>\n

All amounts are denominated in Canadian dollars.<\/p>\n

\n ABOUT SUNDIAL GROWERS INC.\u00a0<\/b>\n <\/p>\n

Sundial is a public company with Common Shares traded on Nasdaq under the symbol “SNDL”. <\/p>\n

Sundial is a licensed producer that crafts cannabis using state-of-the-art indoor facilities. Our ‘craft-at-scale’ modular growing approach, award-winning genetics and experienced master growers set us apart.\u00a0<\/p>\n

Our Canadian operations cultivate small-batch cannabis using an individualized “room” approach, with 448,000 square feet of total space.\u00a0\u00a0<\/p>\n

Sundial’s brand portfolio includes\u00a0Top\u00a0Leaf<\/i>, Sundial\u00a0Cannabis<\/i>, Palmetto<\/i> and Grasslands<\/i>. Our consumer-packaged goods experience\u00a0enables us to not just grow\u00a0quality cannabis, but also\u00a0to\u00a0create exceptional consumer and customer experiences.\u00a0\u00a0<\/p>\n

We are proudly Albertan, headquartered in Calgary, AB<\/span>, with operations in\u00a0Olds, AB, and Rocky View County, AB.\u202f\u00a0<\/p>\n

\n Forward-Looking Information Cautionary Statement<\/b>
\n \u202f<\/b>\u00a0
This news release includes statements containing certain “forward-looking information” within the meaning of applicable securities law (“forward-looking statements”), including, but not limited to, statements regarding the Company’s debt position, cash balance outstanding shares and statements regarding the Company’s future strategic initiatives.\u00a0Forward-looking statements are frequently characterized by words such as “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”,\u00a0“likely”, “outlook”, “forecast”,\u00a0“may”, “will”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are\u202fmade, and\u202fare subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. Please see the risk factors identified in the Company’s filings with the U.S. Securities and Exchange Commission, including those identified in the\u00a0Company’s Annual Report on Form 20-F, for\u00a0a discussion of the material risks that could cause actual results to differ materially from the forward-looking information. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether\u00a0as a result of\u00a0new information, future events or otherwise, except as expressly required by applicable law.\u202f\u00a0<\/p>\n

<\/div>\n

\n \"Cision\" View original content to download multimedia:http:\/\/www.prnewswire.com\/news-releases\/sundial-provides-update-of-strategic-investment-301201751.html<\/a><\/p>\n

SOURCE Sundial Growers Inc.<\/p>\n<\/p><\/div>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

PR Newswire CALGARY, AB, Jan. 6, 2021 \/PRNewswire\/ – Sundial Growers Inc.’s (Nasdaq: SNDL) (“Sundial” or the “Company”) subsidiary special purpose vehicle that owns $51.9 million of aggregate principal amount of senior secured debt (the “Senior Loan”), such amount being inclusive of the payment referred to below, of Zenabis Investments Ltd. (“Zenabis”), a subsidiary of Zenabis Global Inc. (the “Parent”) received a principal repayment of $7.0 million on December 31, 2020 (the “Payment”) in accordance with the terms of the Senior Loan.\u00a0 Despite the Payment, a notice of default was delivered to Zenabis with respect to certain defaults under the terms of the Senior Loan.\u00a0 Zenabis is disputing said defaults.\u00a0 All amounts are denominated in Canadian dollars. ABOUT SUNDIAL GROWERS … <\/p>\n

Continue reading “Sundial Provides Update of Strategic Investment”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-409253","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nSundial Provides Update of Strategic Investment - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/sundial-provides-update-of-strategic-investment\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sundial Provides Update of Strategic Investment - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire CALGARY, AB, Jan. 6, 2021 \/PRNewswire\/ – Sundial Growers Inc.’s (Nasdaq: SNDL) (“Sundial” or the “Company”) subsidiary special purpose vehicle that owns $51.9 million of aggregate principal amount of senior secured debt (the “Senior Loan”), such amount being inclusive of the payment referred to below, of Zenabis Investments Ltd. 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