SNDL Inc. (Nasdaq: SNDL) and Nova Cannabis Inc. (TSX: NOVC) have announced a strategic collaboration in the cannabis industry. SNDL has agreed to assign its rights to own or operate four Dutch Love cannabis retail stores to Nova in exchange for $8 million in shares. This move marks a significant partnership between two of Canada's largest cannabis companies.
Several developments pushed north-of-our-border weed titles higher on the day, with SNDL carrying earnings momentum into the week with positive news flow on cannabis legalization. SNDL Inc. was the target of some unusual options trading activity on Wednesday, indicating increased investor interest in the company's future prospects.
In a press release, SNDL Inc. (SNDL) has released an update on their collaboration with Nova Cannabis Inc. The assignment of four Dutch Love cannabis retail stores to Nova marks a strategic move for both companies as they seek to expand their presence in the growing cannabis market.