Canadian Hashish Producer Sundial Growers Information $100 Million NASDAQ IPO Registration – New Hashish Ventures

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Alberta-based licensed producer Sundial Growers has filed its IPO registration in an try to turn out to be the second Canadian LP to record solely on the NASDAQ, following Tilray’s (TLRY) itemizing a 12 months in the past. The proposed $100 million providing doesn’t but have pricing data, however the firm has reserved the ticker “SNDL”. Underwriters embody Cowen, BMO and Barclays

The corporate, which obtained its license in June 2017, has three classes of merchandise, “Heal, Assist and Play” and grows a choose variety of strains which are marketed by traits and results:

Earlier right this moment, the corporate introduced the acquisition within the UK of CBD-focused Bridge Farm Group, its first enterprise past Canada. Based on the prospectus, Bridge generated gross sales of C$20.four million over the ten months ending March 31st and C$9.1 million in Q1. Earlier this 12 months it lined up a C$30 million credit score facility with BMO and adopted it up with a C$93 million convertible word providing in Might.

Sundial reported its first gross sales in Q1, producing internet income of C$1.5 million and adjusted EBITDA of -C$5.5 million. The corporate reported professional forma money of just about C$29 million and professional forma fairness of -C$106 million as of March 31st.

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Alan Brochstein, CFA
Based mostly in Houston, Alan leverages his expertise as founding father of on-line communities 420 Investor, the primary and nonetheless largest due diligence platform targeted on the publicly-traded shares within the cannabis business. Together with his intensive community within the cannabis group, Alan continues to search out new methods to attach the business and facilitate its sustainable progress. At New Hashish Ventures, he’s accountable for content material growth and strategic alliances. Earlier than shifting his focus to the cannabis business in early 2013, Alan, who started his profession on Wall Road in 1986, labored as an impartial analysis analyst following over twenty years in analysis and portfolio administration. A prolific author, with over 650 articles printed since 2007 at In search of Alpha, the place he has 70,000 followers, Alan is a frequent speaker at business conferences and a frequent supply to the media, together with the NY Instances, the Wall Road Journal, Fox Enterprise, and Bloomberg TV. Contact Alan: Twitter | Fb | LinkedIn | E mail

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