Sundial: Anticipated Closing Date Of Alcanna Acquisition And Late Filing Of Financial Statements

Sundial Growers Inc. SNDL expects the previously announced plan of arrangement with Alcanna Inc. to be completed on or about March 31, 2022. All regulatory requirements under applicable provincial liquor and cannabis legislation have now been satisfied and completion of the arrangement remains subject only to customary closing conditions as further described in the arrangement agreement. Sundial and Alcanna have mutually agreed to extend the outside date for closing the transaction by one day to March 31, 2022.

Financial Statement Filing Delay

The company announced a delay in filing its audited consolidated financial statements for the year ended December 31, 2021, annual management discussion and analysis for the same period and management certifications of annual filings beyond the deadline of March 31, 2022 prescribed by Canadian securities laws. Sundial expects to file its annual report on Form 20-F within the applicable U.S. filing deadline. The company now expects to report fourth-quarter and full-year 2021 earnings on or before April 14, 2022. Updated conference call details will be provided in a subsequent announcement.

The company’s auditor is completing its external audit and will be unable to issue an audit opinion before the end of March 2022 as previously expected. The company believes that there will be no restatement of previously released financial statements of Sundial.

Come and meet Sundial's CEO Zach George CEO in person at the  Benzinga Cannabis Capital Conference in Miami. There’s still time to sign up for the event that will host many top names in the cannabis industry. Click here for more info.

Related News

Why Tilray, Sundial And Canopy Growth Are Seeing High Interest From Retail Investors


Posted In: Zach GeorgeCannabisNewsPenny StocksSmall CapMarkets

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.