11:26 AM EDT, 10/21/2024 (MT Newswires) -- SNDL ( SNDL ) said Monday it completed its previously announced plan of arrangement to acquire shares of Nova that it does not already own, or about 34.8% of the outstanding Nova shares, to privatize the company.

Under the arrangement, Nova shareholders were allowed to choose 1.75 Canadian dollars ($1.26) in cash or 0.58 of a common SNDL ( SNDL ) share for each Nova share held.

SNDL ( SNDL ) said it will issue 159,792 SNDL ( SNDL ) shares and pay about CA$37.3 million for the Nova shares.

Following the transaction, SNDL ( SNDL ) said Nova shares are expected to be delisted from the OTC Markets and the Toronto Stock Exchange.

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