SNDL News & Events

SNDL announced that the transaction relating to the acquisition of the remaining 1CM Ontario retail locations is not expected to proceed following a prolonged regulatory review process that extended beyond commercially reasonable timelines contemplated by the parties.The provincial regulatory approvals required in Ontario to complete the Second Closing will not likely be obtained prior to the outside date of May 31, and as such, the Second Closing is not expected to proceed. SNDL completed the first closing under the A&R Arrangement Agreement, pursuant to which SNDL acquired five cannabis retail stores located in Alberta and Saskatchewan from 1CM. That transaction was completed and remains unaffected by this update. SNDL intends to reallocate the capital previously reserved for the Ontario acquisition toward share repurchases under its existing share repurchase program which authorizes SNDL to repurchase up to $100M of its outstanding common shares through November 20. Under SNDL's current Share Repurchase Program, SNDL has repurchased more than 5.5 million shares since March 31, valued at approximately $11.1M.

"Beyond the normal seasonality that impacts the first quarter each year, Q1 2026 was particularly challenging, driven primarily by market softness across our business segments and operating territories," said Zach George, Chief Executive Officer of SNDL. "While remaining focused on our strategic priorities and anticipating an improvement in the cannabis market in the second half of the year, we are not standing still. We are proactively adjusting our commercial execution and cost structure to reflect the reality of current market conditions."

Reports Q4 revenue $252.5M vs. $257.68M last year. "2025 represents another step forward in financial performance and strategic focus for SNDL. We are pleased to report new records across our income statement and free cash flow, while continuing to transform our business to support long-term, sustainable, and profitable growth," said CEO Zach George. "We are strengthening our performance culture and organizational capabilities, providing a solid foundation as we continue to raise the bar toward our vision of becoming a global leader in our industry."