CALGARY,
AB, March 3, 2023 /PRNewswire/ - SNDL Inc.
(Nasdaq: SNDL) ("SNDL" or the "Company") announced
today that it has successfully obtained two liquor retail licenses
in Regina and Saskatoon, through the Saskatchewan Liquor and
Gaming Authority ("SLGA") auction. The Company will leverage these
licenses to expand its premium liquor banner, Wine and Beyond, into
the final stage of the liquor retail transition to the private
sector in Saskatchewan.
"We are excited to bring our Wine and Beyond banner into
Saskatchewan, specifically in the
key markets of Regina and
Saskatoon," said Tank Vander,
President of Liquor Retail at SNDL. "Due to Saskatchewan's low distribution of liquor
licenses and high liquor sales per capita, SNDL expects stable and
accretive growth in the two new stores. We are eager to introduce
consumers to the Wine and Beyond brand, as we believe there is
demand in the market for a premium liquor retail model."
The Company's 12 operating Wine and Beyond locations generated
$135 million in revenue on an
annualized basis for the three months ended September 30, 2022. This demonstrates the
banner's continued popularity and robust store performance, which
SNDL anticipates will extend to the Saskatchewan market. Wine and Beyond's
initial launch in the two largest Saskatchewan cities will help SNDL to evaluate
future expansion opportunities in the province.
With 11 stores in Alberta and
one store in British Columbia,
Wine and Beyond is a premier destination liquor retailer in
Western Canada. The new stores in
Saskatchewan are a testament to
the Company's continued growth and commitment to providing
customers with exceptional service and quality products. SNDL will
begin sourcing real estate and expects the stores to be operational
in the province in the next 18 months.
About SNDL Inc.
SNDL is a public company whose shares are traded on the Nasdaq
under the symbol "SNDL."
SNDL is the largest private-sector liquor and cannabis retailer
in Canada with retail banners that
include Ace Liquor, Wine and Beyond, Liquor Depot, Value Buds, and
Spiritleaf. SNDL is a licensed cannabis producer and one of the
largest vertically integrated cannabis companies in Canada specializing in low-cost biomass
sourcing, premium indoor cultivation, product innovation, low-cost
manufacturing facilities, and a cannabis brand portfolio that
includes Top Leaf, Contraband, Citizen Stash, Sundial Cannabis,
Palmetto, Bon Jak, Spiritleaf Selects, Versus Cannabis, Value Buds,
Vacay, Grasslands and Superette. SNDL's investment portfolio seeks
to deploy strategic capital through direct and indirect investments
and partnerships throughout the global cannabis industry. For more
information on SNDL, please go to www.sndl.com.
Forward-Looking
Statement
This news release includes statements containing certain
"forward-looking information" within the meaning of applicable
securities law ("forward-looking statements"). Forward-looking
statements in this release includes, but is not limited to, annual
production and the potential expansion plans of the Company in
Canada and internationally, the
Company's ability to provide uninterrupted supply to its customer,
and statements regarding the future performance of the Company.
Forward-looking statements are frequently characterized by words
such as "plan", "continue", "expect", "project", "intend",
"believe", "anticipate", "estimate", "may", "will", "potential",
"proposed" and other similar words, or statements that certain
events or conditions "may" or "will" occur. These statements are
only predictions. Various assumptions were used in drawing the
conclusions or making the projections contained in the
forward-looking statements throughout this news release.
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. The Company is
under no obligation, and expressly disclaims any intention or
obligation, to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as expressly required by applicable law.
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SOURCE Sundial Growers Inc.