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SNDL acquires Delta 9 Cannabis’ debt, ascends to senior secured creditor status

(CNW) Calgary — SNDL Inc. has completed the acquisition of the principal indebtedness of Delta 9 Cannabis Inc. from Connect First and Servus Credit Union Ltd. for a purchase price of CAD $28,138,284 pursuant to a purchase and sale of indebtedness agreement dated July 5, 2024.

As a result of the Debt Acquisition, SNDL has become Delta 9’s senior secured creditor with a first priority security interest in all of the assets of Delta 9 and certain Delta 9 subsidiaries. The purchased indebtedness brings Delta 9’s total indebtedness owing to SNDL to CAD $40,653,352.