SNDL To Acquire Valens

(RTTNews) - SNDL Inc. (SNDL) and The Valens Company Inc. (VLNS.TO, VLNS) have entered into an arrangement agreement to combine their businesses and create a leading vertically integrated cannabis platform. SNDL will acquire all of the issued and outstanding common shares of Valens, other than those owned by SNDL and its subsidiaries, by way of a statutory plan of arrangement. Valens' shareholders will receive, for each Valens share, 0.3334 of a common share of SNDL.

The combined company will operate as SNDL Inc. Valens shareholders will own approximately 9.5% of the pro forma entity.