Sundial Growers Inc. (SNDL) Announces US$74.5 Million Registered Offering and Full Utilization of Shelf Registration Statement

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Summary

Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Sundial’s gross proceeds from the offering are expected to be approximately US$74.5 million, before deducting underwriting discounts and estimated offering expenses. The exercise price of the Series A Warrants will be US$1.10 per common share. Upon closing of the offering, Sundial will have fully utilized the capacity under its shelf registration statement filed with the Securities and Exchange Commission (the “SEC”) on Form F-3 and declared effective on January 25, 2021. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements.

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Sundial Growers Announces US$74.5 Million Registered Offering and Full Utilization of Shelf Registration Statement

Sundial Growers Inc. (Nasdaq: SNDL) (“Sundial” or the “Company”) announced today that it has priced a best efforts underwritten registered offering of 60,500,000 Series A Units, each consisting of one common share and one-half Series A Warrant, with each whole Series A Warrant entitling the holder to purchase one common share, and 14,000,000 Series B Units (and together with the Series B Units, the “Units”), each consisting of one pre-funded Series B Warrant (together with the Series A Warrants, the “Warrants”) to purchase...

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