Ms. Marcie Kiziak 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 Sept. 30, 2023, subject to receipt of regulatory approval and the amendment to certain terms of the transaction that are mutually satisfactory to SNDL and Nova.

"SNDL and Nova recently participated in constructive discussions with the regulatory body responsible for final approval," stated Marcie Kiziak, chief executive officer of Nova. "The conversation was productive, and we are confident in the transaction's timely progression. SNDL and Nova remain committed to navigating through these processes with transparency and diligence, ensuring the best outcome for all parties involved."

In addition, SNDL and Nova have extended the maturity date of Nova's revolving credit facility with SNDL to Sept. 30, 2023.

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 92 locations across Alberta, Ontario and Saskatchewan, primarily under its Value Buds banner.

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