In an earlier version of this report, the wrong dollar sum was in the headline. This has been fixed.
Canadian cannabis company Sundial Growers Inc. SNDL,
said on Wednesday it had closed the acquisition of a special vehicle for C $ 58.9 million ($ 46 million) in cash, which it funded with its available cash reserves of C $ 110 million. The special purpose vehicle owns C $ 58.9 million in senior secured debt issued by Zenabis Investment Ltd, a unit of Zenabis Global Inc. a royalty based on quarterly sales of its medical, leisure and wholesale stores. The US-listed Sundial, which once had a $ 1 billion valuation, closed at 46 cents on Tuesday.