CALGARY, AB, June 1, 2023 /CNW/ - SNDL Inc. (NASDAQ: SNDL) ("SNDL" or the "Company") is pleased to provide an update on its proposed Transaction (the "Transaction") with Nova Cannabis Inc. (TSX: NOVC) ("Nova") to create a well-capitalized cannabis retail platform in Canada, as contemplated by the implementation agreement entered into between the Company and Nova dated December 20, 2022, as amended on April 3, 2023 (the "Implementation Agreement"). The Company has amended the terms of the plan of arrangement (the "OriginalPlan of Arrangement"), and such amended form of the Original Plan of Arrangement being (the "AmendedPlan of Arrangement") approved by the SNDL shareholders at its annual and special meeting of shareholders held on July 25, 2022, pursuant to which SNDL intends to distribute certain of its Nova common shares ("Nova Shares") to SNDL shareholders.