Calgary-based cannabis company SNDL Inc. said Tuesday it plans to add to its cannabis exporting business with its purchase of a 380,000-square-foot indoor growing facility in Atholville, New Brunswick, as part of its acquisition of Zenabis Ltd. SNDL said it received an approval order from the Québec Superior Court to close its purchase of Zenabis under the Companies’ Creditors Arrangement Act. The Zenabis grow facility has an annual production capacity of about 46,000 kilograms (101,412 pounds) of dried cannabis and 15,000 kilograms of extraction capacity. Shares of SNDL rose 2% in premarket trades. The stock is down 57.5% in 2022, compared to a 62.4% loss by the Cannabis ETF .

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.