Apart from Alcanna's longstanding liquor business with trailing 12-month free cash flow of $16.4 million on a built-out retail platform, the acquisition brings Sundial enhanced exposure with an investment in Nova Cannabis Inc. (TSE: NOVC), a publicly listed, pure-play cannabis retail operator in which Alcanna holds an approximately 63% equity interest.
Sundial’s chief executive officer and director Zachary George revealed other company’s plans and expectations and discussed the industry and its regulations at this week’s Benzinga Cannabis Capital Conference, happening Oct. 14-15 in New York City at the Marriott Marquis Hotel.
He was interviewed by Jelani Gibson, content lead for NJ Cannabis Insider at NJ Advance Media.
George first talked about the challenging times the company had when he took the role of CEO in February 2020. While the company’s cultivation results were poor, Sundial was spending too much …