AcquisitionsMay 28, 2026, 06:07 AM
SNDL Scraps $27.2M Ontario Cannabis Store Acquisition
AI Summary
SNDL Inc. announced that its planned acquisition of 27 Ontario cannabis retail locations from 1CM Inc. for $27.2 million will not proceed. This decision follows a prolonged regulatory review process that extended beyond the commercially reasonable timelines. The company intends to reallocate the $27.2 million previously reserved for this acquisition towards its existing Share Repurchase Program, under which it has already repurchased over 5.5 million shares for approximately $11.1 million since March 31, 2026. The initial stage of the acquisition, involving five stores in Alberta and Saskatchewan, was completed and remains unaffected.
Key Highlights
- Acquisition of 27 Ontario cannabis retail stores from 1CM for $27.2 million will not proceed.
- The transaction failed due to prolonged provincial regulatory review beyond the May 31, 2026 outside date.
- SNDL will reallocate the $27.2 million capital reserved for the Ontario acquisition to its Share Repurchase Program.
- The first stage of the acquisition, involving five stores in Alberta and Saskatchewan, was completed on January 7, 2026, and is unaffected.
- SNDL has repurchased over 5.5 million shares for approximately $11.1 million since March 31, 2026.
- The Share Repurchase Program authorizes repurchases up to $100 million through November 20, 2026.
Price Impact
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