Varcoe: Calgary company rides cannabis roller-coaster as sector endures brutal reckoning

  • 📰 calgaryherald
  • ⏱ Reading Time:
  • 69 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 31%
  • Publisher: 52%

Brasil Notícia Notícia

Brasil Últimas Notícias,Brasil Manchetes

There are plenty of labels placed on SNDL Inc., the Calgary\u002Dbased firm formerly known as Sundial Growers until it changed its name recently.

Sign up to receive daily headline news from the Calgary Herald, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc. | 365 Bloor Street East, Toronto, Ontario, M4W 3L4 | 416-383-2300A welcome email is on its way. If you don't see it, please check your junk folder.

Earlier this week, SNDL announced its latest in a series of deals, acquiring Kelowna-based cannabis extraction and distribution firm Valens Co. in a transaction valued at $138 million. Last October, it unveiled the purchase of Edmonton-based liquor and cannabis retailer Alcanna Inc. for $320 million. The deal included Alcanna’s majority-owned subsidiary, Nova Cannabis Inc., and its fleet of Value Buds stores.

“Sixteen months ago, we had no retail exposure whatsoever. We are now the dominant retailer of regulated products in Canada.”As the CEO wrote in a letter to shareholders earlier this year, Sundial had been “to the brink of failure, looked into the abyss, and then recovered.” “We had a peak debt of almost a quarter-billion dollars with double-digit costs. We were trying to operate in half a dozen countries. We weren’t hitting the mark in terms of our cultivation efforts.”In late 2020, something else was unfolding that would alter Sundial’s trajectory; retail investors began to take note of the stock through online forums.Article content

citing a combination of moves: selling assets, raising capital, completing debt-for-equity swaps and cash repayments. “You have a very unsustainable market from an economic standpoint. No one is really making money,” Gomes said in an interview.nalyst Shaan Mir of Canaccord Genuity.

 

Obrigado pelo seu comentário. Seu comentário será publicado após ser revisado.

Still buy far superior product from the same guy I have for many years ,,, prior to the overlords saying NOW YOU MAY PURCHASE FROM WHOM WE APPROVE!!!

Resumimos esta notícia para que você possa lê-la rapidamente. Se você se interessou pela notícia, pode ler o texto completo aqui. Consulte Mais informação:

 /  🏆 64. in BR

Brasil Últimas Notícias, Brasil Manchetes