On December 20, 2022, SNDL Inc. partnered with Nova Cannabis Inc. to develop a robust cannabis retail platform in Canada. SNDL will integrate its 26 retail stores from Ontario and Alberta into Nova's operations. Additionally, an existing service agreement with SNDL's subsidiary, Alcanna Inc., will be modified to provide Nova with three years of free services, followed by a $2 million annual fee. SNDL will dissolve a $15 million credit facility, offering Nova about $5.5 million in added liquidity. SNDL will also return 14.3 million of its Nova Shares, valued at $7.5 million. Aiming to reduce its stake in Nova below 20%, SNDL’s move will enable Nova's growth in Ontario and British Columbia. In exchange, SNDL will receive intellectual property rights to Nova’s Value Buds banner of 88 stores. Moreover, a license agreement will see Nova utilizing SNDL’s brand assets for a fee ranging from 5.0% to 15.0% of store profits, starting a year post-transaction. Completion is anticipated by May 2023, pending approvals. The transaction's advisors include ATB Capital Markets Inc. and McCarthy Tétrault LLP for SNDL, and Eight Capital, Bennett Jones LLP, and Stikeman Elliott LLP for Nova.