Indiva Provides Update on SNDL Loan and Retains Financial Advisor To Evaluate Strategic Alternatives

Published: April 3, 2024

Indiva Provides Update on SNDL Loan and Retains Financial Advisor To Evaluate Strategic Alternatives

Indiva Limited, the leading Canadian producer of cannabis edibles, is pleased to announce that the Company has entered into an amendment to the second amended and restated promissory note between, among others, the Company and SNDL Inc. Pursuant to the Amending Agreement, the Company shall repay $2,000,000 of the principal amount outstanding pursuant to the Promissory Note and shall work to reduce other current liabilities in the near term. In consideration for the repayment of $2,000,000, the Amending Agreement removed the Company’s covenant under the Promissory Note to ensure a $2,000,000 minimum unrestricted cash balance at all times. The maturity date of the Promissory Note continues to be February 24, 2026.

Concurrently, the Company has retained SSC Advisors (the “Advisor“), as its financial advisor, to assist the Company in the evaluation of potential strategic alternatives intended to maximize shareholder value, including but not limited to, financing alternatives, a merger, amalgamation, plan of arrangement, consolidation, reorganization or other similar transactions. SNDL and Indiva continue to act as commercial partners and SNDL remains supportive of Indiva and this process. SSC Advisors can be reached through Aaron Salz at

There is no set timetable to complete the strategic review process nor have any decisions been made relating to strategic alternatives at this time. There can be no assurance that the strategic review will result in any binding offer or transaction.

iAbount Indiva
Indiva is proud to be Canada’s #1 producer of cannabis edibles. We set the gold standard for quality and innovation with our award-winning products, across a wide range of brands including Pearls by Grön, Bhang Chocolate, Indiva Doppio Sandwich Cookies, Indiva 1432 Chocolate, and No Future Gummies and Vapes, as well as other Indiva branded extracts. Indiva manufactures its top-quality products in its state-of-the-art facility in London, Ontario, and has a corporate workforce remotely distributed across Canada. Click here to connect with Indiva on LinkedInInstagram, and here to find more information on the Company and its products.