27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.
SNDL Inc. (NASDAQ:SNDL) recently provided an update on its proposed transaction with Nova Cannabis Inc. (OTCQB:NVACF) (TSX:NOVC) to establish a well-capitalized cannabis retail platform in Canada.
The terms of the plan of arrangement have been amended, and SNDL shareholders will receive Nova common shares (Nova Shares) as part of the distribution.
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Key Points Of The Partnership
- Eligible SNDL shareholders will receive Nova Shares and New SNDL Shares, while other shareholders will receive cash in lieu of fractional Nova Shares.
- Additionally, the Court in Alberta granted a final order approving the amended plan of arrangement and authorizing the completion of the share distribution.
SNDL CEO Zach George highlighted the strategic partnership's potential for growth and long-term shareholder value, with SNDL reducing its ownership stake in Nova to less than 20%.
"This enables SNDL and Nova to implement our strategic partnership, through which SNDL will manage brand standards via strategic agreements in exchange for a licensing fee against gross profit, and a services fee in return for the provision of management and administrative services."
The completion of the share distribution is subject to closing conditions, including regulatory approvals, and SNDL is working with regulators to ensure compliance.
Finally, the transaction is expected to close on or before June 30, 2023, pending satisfaction of all conditions precedent "which include, but are not limited to, the receipt of certain key regulatory approvals from applicable provincial cannabis regulators and the Toronto Stock Exchange," concluded a release.
Price action: On Thursday afternoon, SNDL's stock price showed an increase of 2.46%, reaching $1.455 per share.
Image by Benzinga
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.