The Toronto Stock Exchange reports that Nova Cannabis Inc. will be delisted at the close on Oct. 22, 2024. According to the TSX, SNDL Inc. has acquired all of the issued and outstanding shares of Nova, pursuant to a plan of arrangement.

The TSX reports that Nova shareholders are entitled to receive $1.75 in cash for each N ova share held, unless a Nova shareholder elected to receive 0.58 of a share of SNDL. Where the total number of SNDL Shares to be issued to a Nova shareholder pursuant to the arrangement would otherwise result in a fraction of a SNDL share being issuable, the number of SNDL shares to be received by such Nova shareholder will be rounded down to the next lesser whole number of SNDL shares. Any cash consideration that would otherwise include a fraction of one cent shall be rounded down to the nearest whole cent. To receive the consideration, Nova shareholders must return the letter of transmittal and election form, together with Nova share certificates, to Odyssey Trust Company at its principal offices in Toronto.

For more information, see Nova's management information circular and proxy statement dated Sept. 17, 2024, available on SEDAR+.