Sundial Growers Inc. (SNDL) and Alcanna Inc. Announce the Agreement to Revised Consideration

Sundial Growers Inc. logo (CNW Group/Sundial Growers Inc.) Sundial Growers Inc. logo (CNW Group/Sundial Growers Inc.) Sundial and Alcanna have amended the arrangement agreement dated October 7, 2021 (the “Arrangement Agreement”) to reflect the revised consideration, which provides that Alcanna Shareholders will receive, for each Alcanna Share held, 8.85 common shares of Sundial (each whole share, a “Sundial Share”) and $1.50 in cash consideration (the “Revised Consideration”). Sundial is a public company with the Sundial Shares traded on Nasdaq under the symbol “SNDL”. Announce the Agreement to Revised Consideration Under the Proposed Plan of Arrangement Sundial Growers Inc. (NASDAQ: SNDL) (“Sundial”) and Alcanna Inc. (TSX: CLIQ) (“Alcanna”) announce that Sundial has agreed to improve the consideration to be provided to Alcanna shareholders (the “Alcanna Shareholders”) for their common shares of Alcanna (each, an “Alcanna Share”) pursuant to the previously announced plan of arrangement under the Canada Business Corporations Act (the “Arrangement”) by including a cash component. However, Alcanna Shareholders are encouraged to vote their Alcanna Shares as soon as possible in advance of the Meeting. The deemed value implies an approximate 15.3% premium from the closing price of Alcanna Shares on the Toronto Stock Exchange as of January 5, 2022.