SNDL has cleared a major regulatory hurdle in its deal with 1CM to acquire 32 cannabis retail stores operating under the Cost Cannabis and T Cannabis banners in Ontario, Alberta and Saskatchewan.
1CM announced that the Ontario Superior Court of Justice has approved the plan. While the deal is still subject to the satisfaction of certain closing conditions, the companies said it's on track to be completed in the third quarter of 2025.
Under the terms of the agreement, SNDL will acquire, with the option to assign, the 1CM Stores for total consideration of CAD$32.2 million in cash. The 1CM Stores are comprised of 2 stores in Alberta, 3 stores in Saskatchewan and 27 stores located in Ontario.
"We are excited to expand SNDL's retail network and reinforce our leadership in Canada," said Zach George, Chief Executive Officer of SNDL. "The addition of these locations will increase SNDL's exposure to a broad consumer base in key Canadian markets and aligns with our stated capital priorities as we build a sustainable cannabis retail portfolio at scale."
