Sundial and Indiva Announce Closing of $22 Million Strategic Investment - Seite 2

Indiva intends to use the net proceeds of the Investment to retire its outstanding debt in full, which includes its demand loan and promissory note, as well as for working capital and other general corporate purposes.

The Investment is subject to the final approval of the TSXV. The Common Shares issued under the Placement will be subject to a statutory hold period of four months and one day following the closing of the Placement.

Pursuant to the Investment, Indiva paid to ATB: (a) a cash commission equal to $330,000 being 3.0% of the aggregate gross proceeds from the Placement; and (b) a financial advisory fee of $220,000, being 2.0% of the principal amount of the Term Loan.

Early Warning

Immediately prior to the Placement, Sundial and its affiliates held no Common Shares. Upon the closing of the Placement Sundial and its affiliates exercise control and direction over 18.45% of the issued and outstanding Common Shares. Sundial and its affiliates do not currently own any convertible securities of Indiva. The Common Shares are being acquired for investment purposes and, as of the date of this news release, Sundial and its affiliates have no current intention to acquire control or direction over additional securities of Indiva above 19.9% of the issued and outstanding Common Shares, either alone or together with any joint actors.

The securities to be offered pursuant to the Placement have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

ABOUT SUNDIAL GROWERS INC.

Sundial is a public company with common shares traded on Nasdaq under the symbol "SNDL”. Sundial is a licensed producer that crafts cannabis using state-of-the-art indoor facilities. Our ‘craft-at-scale modular growing approach, award-winning genetics and experienced master growers set us apart. Our Canadian operations cultivate small-batch cannabis using an individualized “room” approach, with 448,000 square feet of total space. Sundial’s brand portfolio includes Top Leaf, Sundial Cannabis, Palmetto and Grasslands. Our consumer-packaged goods experience enables us to not just grow quality cannabis, but also to create exceptional consumer and customer experiences. We are proudly Albertan, headquartered in Calgary, AB, with operations in Olds, AB, and Rocky View County, AB. For more information on Sundial, please go to www.sndlgroup.com.