August 14, 2020

Sundial Growers Announces Pricing of its US$20 Million Registered Offering

CALGARY, AB (August 14, 2020) - Sundial Growers Inc. (NASDAQ: SNDL) ("Sundial" or the "Company") announced today that it has 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 (and together with the Series B Units, the “Units”), each consisting of one pre-funded Series B Warrant (together with the Series A Warrants, the “warrants”) 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. Sundial’s gross proceeds from this offering are expected to be approximately US$20 million, before deducting underwriting discounts and estimated offering expenses. All of the securities in the offering are being sold by Sundial. The warrants will be exercisable immediately after issuance and have a term of five years commencing on the date of issuance. The exercise price of the Series A Warrants will initially be US$0.75 per common share, subject to customary anti-dilution adjustments. The offering is expected to close on August 18, 2020, subject to customary closing conditions.

The Company intends to use the net proceeds from the offering for general corporate and working capital purposes.

Canaccord Genuity LLC is acting as sole book-running manager for the offering.

The offering will be made only by means of a prospectus supplement and an accompanying prospectus filed as part of an effective shelf registration statement filed with the Securities and Exchange Commission (the “SEC”) on Form F-3 and declared effective on August 13, 2020. A prospectus supplement for the offering will be filed with the SEC and available on the SEC’s website, www.sec.gov. Copies of the prospectus supplement, when available, may be obtained from Canaccord Genuity LLC, Attention: Syndicate Department, 99 High Street, 12th Floor, Boston, MA 02110, or by email at prospectus@cgf.com .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.

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Tuesday, Aug 18, 2020

Sundial Growers Announces Closing of its US$20 Million Registered Offering

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Friday, Aug 14, 2020

Sundial Growers Announces Pricing of its US$20 Million Registered Offering

Sundial Growers Inc. (NASDAQ: SNDL) ("Sundial" or the "Company") announced today that it has priced a best efforts underwritten registered offering of 25,820,000 Series A Units.

Read More
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