An earlier version of this report had the wrong dollar sum to the holder. It has been fixed.
Canadian cannabis company Sundial Growers Inc. SNDL,
said Wednesday it closed the acquisition of a special-purpose vehicle for $ 58.9 million ($ 46 million) in cash, which it financed with its available reserves of C $ 110 million. The special purpose vehicle has C $ 58.9 million of senior-backed debt issued by Zenabis Investment Ltd, a unit of Zenabis Global Inc. a royalty based on the quarterly sales of its medical, recreational and wholesale cannabis companies. U.S. sundial shares of the sundial, which once had a valuation of $ 1 billion, closed at 46 cents on Tuesday.