09:13 AM EDT, 04/09/2025 (MT Newswires) -- SNDL Inc. ( SNDL ) 1CM Inc. ( MILFF ) entered Wednesday into an arrangement agreement that will see SNDL ( SNDL ) acquire 32 cannabis retail stores operating under the Cost Cannabis and T Cannabis banners in Ontario, Alberta and Saskatchewan.

Under the terms of the agreement, SNDL ( SNDL ) will acquire, with the option to assign, the 1CM Stores for total consideration of $32.2 million in cash, subject to certain adjustments at the closing of the transaction. The 1CM Stores are comprised of 2 stores in Alberta, 3 stores in Saskatchewan and 27 stores located in Ontario. The 1CM Stores generated annual revenue of an aggregate of $53 million the fiscal year ended August 31, 2024 with 30 active stores at the fiscal year end. The acquisition of the 1CM Stores will bring SNDL's ( SNDL ) total owned and franchised cannabis retail store count to 219.

1CM's board of directors unanimously approved the agreement, having determined the transaction is in the best interests of 1CM and fair to its shareholders. The 1CM Board unanimously recommends that shareholders vote in favour of it at the upcoming annual and special meeting of shareholders of 1CM.