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 for the proposed SNDL Inc. and Nova Cannabis Inc. deal, 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. SNDL and Nova anticipate that the transaction will close on or before Oct. 30, 2023, subject to receipt of regulatory approval.

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