SNDL Completes Acquisition of The Valens Company

Creates a low-cost vertically integrated Canadian company generating over a billion dollars in annualized pro forma revenue¹

CALGARY, AB, Jan. 17, 2023 /CNW/ - SNDL Inc. (Nasdaq:SNDL) ("SNDL" the "Company") is pleased to announce the completion of the previously disclosed acquisition of all of the issued and outstanding common shares ("Valens Shares") of The Valens Company Inc. (TSX:VLNS.TO) (Nasdaq:VLNS) ("Valens"), other than those held by SNDL and its subsidiaries, pursuant to a plan of arrangement under the Canada Business Corporations Act (the "Transaction"), for total consideration of approximately $138 million² consisting of common shares of SNDL ("SNDL Shares") and assumption of Valens' $60 million non-revolving term loan facility. All financial information in this press release is reported in Canadian dollars unless otherwise indicated.