SNDL Inc. (NASDAQ: SNDL) announced that its board of directors has approved the renewal of the share repurchase program upon the expiry of its current share repurchase program on November 19, 2022. The share repurchase program authorizes the company to repurchase up to CA$100 million of its outstanding common shares from time to time at prevailing market prices, enabling SNDL to opportunistically return value to shareholders.

Notwithstanding the share repurchase amount, SNDL may only purchase a maximum of approximately 11.8 million shares under the share repurchase program, representing 5% of the issued and outstanding shares as at November 21, 2022. Subject to the foregoing limitations, the share repurchase program will commence on November 21, 2022, and will expire on November 20, 2023.

The actual number of shares which may be purchased pursuant to the share repurchase program and the timing of any purchases will be determined by management and the board of directors.

The price which the company will pay for any such shares will be the prevailing market price at the time of acquisition, subject to certain limitations imposed by applicable securities laws. All shares …

Full story available on Benzinga.com