A Reddit favorite cannabis company Sundial Growers Inc. (NASDAQ: SNDL) revealed Tuesday it has finalized the acquisition of Inner Spirit Holdings Ltd. (CSE: ISH) (OTCQB: INSHF), known for its national network of Spiritleaf retail stores. The total consideration for the purchase is set to 30 cents in cash and 0.0835 of a common share of Sundial for each Inner Spirit share.
On the news, Sundial’s shares closed Tuesday market sessions slightly higher – 3.95%, at 84 cents per share.
The completion of the purchase comes on the heels of Sundial’s joint venture SunStream lending $25 million to Clever Leaves Holdings Inc. (NASDAQ: CLVR).
The Calgary, Alberta-headquartered company noted several important benefits resulting from this deal.
- Sundial …