SNDL Inc. (Nasdaq: SNDL) is buying 32 cannabis retail stores known as Cost Cannabis and T Cannabis in Ontario, Alberta and Saskatchewan from 1CM Inc. (CSE: EPIC) (OTCQB: MILFF) in a deal valued at C$32.2 million. It is anticipated that the deal will close before the end third quarter in 2025.
1CM Stores reported a revenue of C$53 The fiscal year ended on September 30, 2009. August 31st, 2024 The fiscal year ended with 30 active retail stores. The addition of 1CM Stores to SNDL brings the total number of owned and franchised retail cannabis stores up to 219 SNDL stated in a statement that the stores were purchased in cash.
The expansion of SNDL’s retail networks and our commitment to leadership will be exciting for us. Canada” Zach GeorgeSNDL Chief Executive officer. This will allow SNDL to reach a wider consumer base across key Canadian markets. It also aligns our stated priorities in building a sustainable cannabis retailer portfolio.
1CM had the required licenses for 34 cannabis retail shops and five liquor retailers in Canada’s multiple provinces at its last earnings report in 2024. Investors were told that the company expects to give a large portion of proceeds from the sale to its shareholders, and will use the remainder for new stores and corporate purposes.
Last November, when the company delivered C$17.6 million of revenue for the fiscal first quarter 2025 in comparison to C$12.3 millions the year before. It attributed 91% of its revenue increase to cannabis retail sales. The company attributed the increased revenue to new and existing store growth, with the remainder of 9% being related to liquor retail sales. A net profit of C$407844 was reported by the company for this quarter.
1CM CEO Tanvi Bhandari said“We’re excited to be able unlock value for shareholders with this deal.” We are looking forward to assisting SNDL during the transition.