Sundial Growers, Inc.

Canaccord Genuity acts as Sole Bookrunner for US$20 million Registered Offering by Sundial Growers Inc.

Canaccord Genuity is pleased to announce that on August 14, 2020, it completed a US$20 million registered offering of units for Sundial Growers Inc. (NASDAQ:SNDL) (the “Company”). The Company priced a best efforts underwritten registered offering of 25,820,000 Series A Units, each consisting of one common share and one Series A Warrant to purchase one common share and 14,280,000 Series B Units, each consisting of one pre-funded Series B Warrant to purchase one common share and one Series A Warrant to purchase one common share. Each Series A Unit will be sold at a price of US$0.50 per Series A Unit and each Series B Unit will be sold at a price of US$0.50 per Series B Unit, minus US$0.0001, and the remaining exercise price of each Series B Warrant will equal US$0.0001 per common share. The warrants have five-year terms and will be exercisable immediately after issuance. The exercise price of the Series A Warrants will initially be  US$0.75 per common share, subject to customary anti-dilution adjustments.

Sundial’s gross proceeds from this offering are expected to be approximately US$20 million, before deducting underwriting discounts and estimated offering expenses. The Company intends to use the net proceeds from the offering for general corporate and working capital purposes.

Canaccord Genuity acted as Sole Bookrunner for the offering.

Sundial is a licensed producer that crafts cannabis using state-of-the-art indoor facilities. The Company cultivates small-batch cannabis using an individualized "room" approach, with 470,000 sq. ft. of total space in Olds, AB and Rocky View County, AB. Sundial's brand portfolio includes Top Leaf, Sundial Cannabis, Palmetto and Grasslands.

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