SNDL Inc. has received unanimous approval from its shareholders for the acquisition of 32 cannabis retail stores operating under the Cost Cannabis and T Cannabis brands. This decision was confirmed during the company’s annual and special meeting held on June 16, 2025. Shareholders voted in favor of all proposed resolutions, including the acquisition and a plan to return capital to them.
The acquisition, which spans locations in Ontario, Alberta, and Saskatchewan, is part of SNDL’s strategy to expand its presence in the cannabis retail market. A total of 60,181,613 common shares were cast in favor of the acquisition resolution, representing 100% of the votes. Similarly, the resolution for the capital return also garnered 100% approval from the votes cast.
Following the shareholder meeting, SNDL intends to seek a final order from the Ontario Superior Court of Justice to authorize the acquisition at a hearing scheduled for June 18, 2025. The completion of the acquisition is contingent upon meeting various conditions, including court approval and other regulatory requirements. The company expects to finalize the deal in the third quarter of 2025.
The capital return, which is estimated to amount to about half of the gross proceeds from the acquisition, remains dependent on the successful closure of the transaction. The company’s board of directors will formally declare the return of capital and set the relevant record and payment dates after the acquisition is completed.
1CM Inc., the parent company of SNDL, is recognized for its successful cannabis and liquor retail operations in Canada. It aims to continue expanding its retail footprint through both organic growth and further acquisitions in the cannabis sector.
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