An anonymous director reports

SNDL AND NOVA CANNABIS EXTEND OUTSIDE DATE FOR CLOSING OF THE STRATEGIC PARTNERSHIP

While all other provincial approvals have been received, the continued review by one provincial regulator has necessitated a further extension of the outside date for the closing of the previously announced strategic partnership between SNDL Inc. and Nova Cannabis Inc. SNDL and Nova anticipate that the transaction will close on or before Aug. 25, 2023, subject to receipt of regulatory approval and the amendment to certain terms of the transaction that are mutually satisfactory to SNDL and Nova.

In addition, SNDL and Nova have extended the maturity date of Nova's revolving credit facility with SNDL to Aug. 25, 2023.

To date, all preclosing conditions for the completion of the transaction have been satisfied other than the parties' receipt of regulatory approval from one provincial regulator.

About Nova Cannabis Inc.

Nova Cannabis is one of Canada's largest and fastest-growing cannabis retailers with a goal of disrupting the cannabis retail market by offering a wide range of high-quality cannabis products at everyday best value prices. Nova currently owns and/or operates 91 locations across Alberta, Ontario and Saskatchewan, primarily under its Value Buds banner.

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