CALGARY, July 23, 2019 /CNW/ - Sundial Growers Inc. ("Sundial" or the "Company") announced that it has launched an initial public offering ("IPO") of its common shares in the United States and Canada pursuant to a registration statement on Form F-1 previously filed with the United States Securities and Exchange Commission (the "SEC") and an amended and restated preliminary prospectus filed with the securities regulatory authorities in each of the provinces and territories of Canada, other than the Province of Quebec. Sundial has applied to list its common shares on the Nasdaq Global Select Market ("Nasdaq") under the ticker symbol "SNDL". Listing on Nasdaq is subject to the Company satisfying applicable regulatory requirements, including fulfilling all Nasdaq listing requirements.
Sundial is offering 10,000,000 common shares at an initial price to the public estimated to be between US$12.00 and US$14.00 per share. Sundial intends to grant the underwriters a 30-day over-allotment option to purchase up to 1,500,000 additional common shares.
Cowen, BMO Capital Markets and RBC Capital Markets are acting as joint book-running managers for the proposed IPO. Barclays and CIBC Capital Markets are acting as bookrunners and Scotiabank is acting as co-manager for the proposed IPO.
The offering will be made only by means of a prospectus. Copies of the U.S. preliminary prospectus may be obtained from the SEC's website or from Cowen, c/o Broadridge Financial Services, 1155 Long Island Avenue, Edgewood, NY 11717, Attention: Prospectus Department, or by email to [email protected] or by telephone at 833-297-2926. Copies of the Canadian amended and restated preliminary prospectus may be obtained from www.sedar.com or from BMO Capital Markets, Brampton Distribution Centre c/o The Data Group of Companies, 9195 Torbram Road, Brampton, Ontario, L6S 6H2 or by telephone at (905) 791-3151 Ext 4312 or by email at [email protected] or RBC Capital Markets 180 Wellington Street West, 8th Floor, Toronto, ON M5J 0C2, Attention: Simon Yeung, or via telephone: (416) 842-5349, or via email at [email protected].
A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
An amended and restated preliminary prospectus containing important information relating to these securities has been filed with securities commissions or similar authorities in certain jurisdictions of Canada. The amended and restated preliminary prospectus is still subject to completion or amendment. There will not be any sale or any acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued.
About Sundial Growers Inc.
Sundial proudly crafts pioneering cannabis brands to Heal, Help and PlayTM:
- Heal – cannabis products used as prescription medicine
- Help – cannabis products that strive to promote overall health and wellness through cannabinol (CBD)
- Play – cannabis products to enhance social, spiritual and recreational occasions
Sundial operates five facilities, including two facilities in Alberta and three in the United Kingdom, and is currently building a third Canadian facility in British Columbia.
This press release contains "forward-looking statements", which may be identified by the use of words such as, "may", "would", "could", "will", "likely", "expect", "anticipate", "believe, "intend", "plan", "forecast", "project", "estimate", "outlook" and other similar expressions, including statements in respect of the initial price range of Sundial's initial public offering, the over-allotment option and Sundial's intentions with respect to stock exchange listing. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management's experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, including assumptions in respect of current and future market conditions. Actual results, performance or achievement could differ materially from that expressed in, or implied by, any forward-looking statements in this press release, and, accordingly, you should not place undue reliance on any such forward-looking statements and they are not guarantees of future results. Forward-looking statements involve significant risks, assumptions, uncertainties and other factors that may cause actual future results or anticipated events to differ materially from those expressed or implied in any forward-looking statements, including that the eventual offering price in respect of the initial public offering may fall outside of the price range provided in the registration statement and the prospectus . Please see the heading "Risk Factors" in the registration statement and the prospectus for a discussion of the material risk factors that could cause actual results to differ materially from the forward-looking information. Sundial does not undertake to update any forward-looking statements that are included herein, except in accordance with applicable securities laws.
SOURCE Sundial Growers
Media Contact: Sophie Pilon, Corporate Communications Manager, Sundial Growers Inc., T: 1.403.815.7340, E: [email protected]
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