Sundial Growers, Inc.

Canaccord Genuity acts as Joint Agent on US$18 million Senior Unsecured Subordinated Convertible Notes Offering by Sundial Growers, Inc.

Canaccord Genuity is pleased to announce that on June 8, 2020, it completed a US$18 million senior unsecured subordinated convertible notes offering (the "Subordinated Convertible Notes Offering") with accompanying

warrants to institutional investors for Sundial Growers, Inc. The notes mature on June 5, 2022 and will not bear interest except in the case of default. The notes are not secured by any assets of Sundial and are convertible into Sundial common shares at the election of the purchasers at a price of US$1.00 per share, subject to adjustments. The conversion price of the Notes is subject to adjustment in the event the Company sells shares of common stock or common stock equivalents for less than US$1.00 per share in the future, subject to customary excluded issuances. Sundial also issued warrants to purchase 14,457,059 Sundial common shares to the purchasers with an exercise price of US$0.9338 per warrant. The warrants will expire 3.5 years from the date that the underlying shares become freely tradable. The subordinated convertible notes and associated warrants are immediately exercisable. Net proceeds from the Subordinated Convertible Notes Offering will be used for general corporate purposes.

Canaccord Genuity acted as Joint Agent for the offering.

Sundial Growers, Inc. engages in the production and distribution of flower, pre-rolls and vapes. It operates through the following segments: Cannabis, Ornamental Flowers, and Corporate.

The Canaccord Genuity team included Pat Burke, Jen Pardi, Brian O’Connor, Tom Pollard, Greg Woynarski, Mike Wright, Tiffany Loh, and Brooke Szczygiel.