Sundial Growers Inc (SNDL)

[Moni001]

06:50 AM EST, 12/28/2020 (MT Newswires) -- Sundial Growers ($SNDL) said Monday it has entered into a license agreement with Simply Solventless Concentrates Ltd. to process and manufacture a suite of solventless cannabis concentrates products.

Under the agreement, Simply Solventless will receive a royalty on the sale of products manufactured using its brand and technology. It will also supply the non-cannabis materials to produce the concentrate products in addition to paying Sundial a monthly administration fee.

The companies also said they were were also working toward a definitive agreement for Sundial to sell its Rocky View facility in Alberta, Canada to Simply Solventless for $5 million. The deal will be reached "as soon as practicable," according to a statement.