SNDL Inc. (NASDAQ: SNDL) announced on Monday that its board of directors has approved the renewal of its share repurchase program upon the expiry of its current share repurchase program on November 20, 2023.

The share repurchase program allows the Alberta-based company to repurchase up to CA$100 million ($72.5 million) of its outstanding common shares from time to time at prevailing market prices.

Under the program, SNDL may only repurchase a maximum of approximately 13.1 million, representing 5% of the issued and outstanding shares when the program commences on Nov. 21, 2023. The share repurchase program will expire on Nov. 20, 2024.

Under the company's current share repurchase program, which commenced on Nov. 21, 2022, the company previously sought to repurchase up to CA$100 million or 13.1 million shares. As of Nov. 10, 2023, the company had repurchased an aggregate of 2.9 million shares for cancellation under its current share repurchase program at a weighted average …

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