Nova Cannabis (TSE:NOVC) has released an update.
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SNDL Inc. is set to acquire the remaining minority stake of Nova Cannabis Inc. for approximately $40 million, solidifying its presence in the Canadian cannabis market. The deal, expected to close by October 18, 2024, offers Nova shareholders a significant premium and the option of cash or share consideration. This strategic move will enhance SNDL’s retail operations and is anticipated to deliver cost savings and improved access to capital.
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