Indiva Limited, the leading Canadian producer of cannabis edibles, is pleased to provide an update to the information contained in its press release dated April 2, 2024. As discussed in the prior press release, the Company: (i) entered into an amendment (the “Amending Agreement“) to the second amended and restated promissory note (the “Promissory Note“) between, among others, the Company and SNDL Inc. (“SNDL“), whereby, among other things, the Company agreed to reduce certain current liabilities; and (ii) 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 (the “Strategic Review”).
The Company is continuing these efforts, and as such, the date by which the Company is required to have satisfied certain current liabilities under the Amending Agreement has been extended to June 13, 2024. The Strategic Review is ongoing and the Company continues to review strategic alternatives. This is not an indication that any decision has been, or is likely to be, made relating to any strategic alternatives. There can be no assurance that the Strategic Review will result in any binding offer, financing or transaction.
About 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 LinkedIn, Instagram, and here to find more information on the Company and its products.
