Alcanna Inc. Shareholders Approve Proposed Plan of Arrangement with Over 90% of the Votes in Favour

EDMONTON, Alberta, Jan. 07, 2022 (GLOBE NEWSWIRE) -- Alcanna Inc. ("Alcanna" or the "Company" or "CLIQ") (TSX:CLIQ.TO) is pleased to announce the voting results of the special meeting (the "Meeting") of holders ("Alcanna Shareholders") of Alcanna's common shares (each, an "Alcanna Share") held earlier today. At the Meeting, Alcanna Shareholders voted in favour of a special resolution (the "Arrangement Resolution") to approve the proposed plan of arrangement (the "Arrangement") under Section 192 of the Canada Business Corporations Act (the "CBCA"), involving the acquisition of all of the issued and outstanding Alcanna Shares by Sundial Growers Inc. ("Sundial"), pursuant to the arrangement agreement dated October 7, 2021, as amended on January 6, 2021 (the "Arrangement Agreement"). In accordance with the terms of the Arrangement Agreement, as amended, Alcanna Shareholders will receive 8.85 common shares of Sundial (each whole share, a "Sundial Share") and $1.50 in cash (the "Revised Consideration") in exchange for each Alcanna Share held following closing of the Arrangement.