SNDL (SNDL) 40-F 20 Mar 24 2023 FY Annual report (Canada) Financial data

Document and Entity Information

Document and Entity Information	12 Months Ended
	Dec. 31, 2023 shares
Document Information [Line Items]
Document Type	40-F
Amendment Flag	false
Document Period End Date	Dec. 31, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Entity Registrant Name	SNDL Inc.
Entity Central Index Key	0001766600
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Incorporation, State or Country Code	A0
Entity Primary SIC Number	2833
Entity Common Stock, Shares Outstanding	262,775,853
Entity Emerging Growth Company	false
Entity Interactive Data Current	Yes
Title of 12(b) Security	Common Shares, no par value
Trading Symbol	SNDL
Security Exchange Name	NASDAQ
Annual Information Form	true
Audited Annual Financial Statements	true
Entity File Number	001-39005
Entity Address, State or Province	AB
Entity Address, Address Line One	#300, 919
Entity Address, Address Line Two	11 Avenue SW
Entity Address, City or Town	Calgary
Entity Address, Postal Zip Code	T2R 1P3
City Area Code	403
Local Phone Number	948-5227
Entity Address, Country	CA
Document Annual Report	true
Document Registration Statement	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction Flag	false
Auditor Name	Marcum
Auditor Location	New York, New York, United States
Auditor Firm ID	688
Business Contact
Document Information [Line Items]
Entity Address, State or Province	NY
Entity Address, Address Line One	19 West 44th Street
Entity Address, Address Line Two	Suite 200
Entity Address, City or Town	New York
Entity Address, Postal Zip Code	10036-8401
City Area Code	877
Local Phone Number	374 6010
Contact Personnel Name	Corporation Service Company

Consolidated Statements of Fina

Consolidated Statements of Financial Position $ in Thousands, $ in Millions	Dec. 31, 2023 CAD ($)	Dec. 31, 2022 CAD ($)
Current assets
Cash and cash equivalents	$ 195,041	$ 279,586
Restricted cash	19,891	19,338
Marketable securities	225	21,926
Accounts receivable	27,059	22,636
Biological assets	429	3,477
Inventory	129,060	127,782
Prepaid expenses and deposits	22,464	10,110
Investments	3,400	6,552
Assets held for sale	6,375	6,375
Net investment in subleases	2,970	3,701
Current assets	406,914	501,483
Non-current assets
Long-term deposits and receivables	4,837	8,584
Right of use assets	129,679	134,154
Property, plant and equipment	152,916	143,409
Net investment in subleases	18,396	19,618
Intangible assets	73,149	74,885
Investments	29,660	90,702
Equity-accounted investees	538,331	519,255
Goodwill	119,282	67,260
Total assets	1,473,164	1,559,350
Current liabilities
Accounts payable and accrued liabilities	68,210	48,153
Current lease liabilities	30,537	30,206
Derivative warrants	4,400	11,002
Current liabilities	103,147	89,361
Non-current liabilities
Lease liabilities	136,492	139,625
Other liabilities	4,185	2,709
Total liabilities	243,824	231,695
Shareholders’ equity
Share capital	2,375,950	2,292,810
Warrants	2,260	2,260
Contributed surplus	73,014	68,961
Contingent consideration	2,279	2,279
Accumulated deficit	(1,260,851)	(1,091,999)
Accumulated other comprehensive income	19,417	32,188
Total shareholders’ equity	1,212,069	1,306,499
Non-controlling interest	17,271	21,156
Total liabilities and shareholders’ equity	$ 1,473,164	$ 1,559,350

Consolidated Statements of Loss

Consolidated Statements of Loss and Comprehensive Loss - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023		Dec. 31, 2022
Statement of comprehensive income [abstract]
Gross revenue	$ 957,725		$ 729,694
Excise taxes	48,719		17,497
Net revenue	909,006	[1]	712,197
Cost of sales	689,338		558,089
Inventory impairment and obsolescence	30,644		7,012
Gross profit before fair value adjustments	189,024		147,096
Change in fair value of biological assets	(7,936)		(1,309)
Change in fair value realized through inventory	9,327		(5,412)
Gross profit	190,415		140,375
Interest and fee revenue	14,517		16,739
Investment loss	(9,258)		(65,164)
Share of profit (loss) of equity-accounted investees	6,758		(43,002)
General and administrative	199,725		140,168
Sales and marketing	15,045		8,417
Research and development	324		2,448
Depreciation and amortization	60,216		40,945
Share-based compensation	15,400		9,671
Restructuring costs (recovery)	19,573		(670)
Asset impairment	54,967		196,033
Gain on cancellation of contracts	0		(290)
Operating loss	(162,818)		(347,774)
Transaction costs	(3,718)		(1,352)
Finance costs, net	(11,362)		(41,314)
Change in estimate of fair value of derivative warrants	6,602		10,783
Foreign exchange loss	(367)		(19)
Loss on disposition of assets	(353)		(94)
Loss before income tax	(172,016)		(379,770)
Income tax recovery	0		7,342
Net loss from continuing operations	(172,016)		(372,428)
Net loss from discontinued operations	(4,535)
Net loss	(176,551)		(372,428)
Equity-accounted investees - share of other comprehensive income, net of tax	(12,771)		24,581
Comprehensive loss	(189,322)		(347,847)
Net loss from continuing operations attributable to:
Owners of the company	(172,660)		(335,114)
Non-controlling interest	(3,891)		(37,314)
Net loss from continuing operations	(172,016)		(372,428)
Net income (loss) attributable to:
Owners of the company	(168,125)		(335,114)
Non-controlling interest	(3,891)		(37,314)
Net loss	(176,551)		(372,428)
Comprehensive income (loss) attributable to:
Owners of the company	(185,431)		(310,533)
Non-controlling interest	(3,891)		(37,314)
Comprehensive loss	$ (189,322)		$ (347,847)
Net loss per common share attributable to owners of the company
Basic net loss per common share attributable to owners of the Company	$ (0.67)		$ (1.46)
Diluted net loss per common share attributable to owners of the Company	$ (0.67)		$ (1.46)
[1] The Company has eliminated $ 46.9 million of cannabis operations revenue and equal cost of sales associated with sales to provincial boards that are expected to be subsequently repurchased by the Company’s licensed retailer subsidiaries for resale, at which point the full retail sales revenue will be recognized. The elimination was recorded in the Corporate segment.

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders' Equity - CAD ($) $ in Thousands	Total	Share Capital	Warrants	Contributed Surplus	Contingent Consideration	Accumulated Deficit	Accumulated Other Comprehensive income	Non-controlling interests [member]
Beginning balance at Dec. 31, 2021	$ 1,329,533	$ 2,035,704	$ 8,092	$ 60,734	$ 2,279	$ (785,112)	$ 7,607	$ 229
Net loss for the period	(372,428)					(335,114)		(37,314)
Other comprehensive income (loss)	24,581						24,581
Share issuances	2,870	2,870
Share repurchases	(13,390)	(41,617)				28,227
Share issuances by subsidiaries	115			72				43
Acquisition	345,351	287,129						58,222
Warrants expired			(5,832)	5,832
Share-based compensation	11,047			11,047
Employee awards exercised		8,724		(8,724)
Distribution declared by subsidiaries	(24)							(24)
Ending balance at Dec. 31, 2022	1,327,655	2,292,810	2,260	68,961	2,279	(1,091,999)	32,188	21,156
Net loss for the period	(176,551)					(172,660)		(3,891)
Other comprehensive income (loss)	(12,771)						(12,771)
Share issuances	1,900	1,900
Share repurchases	(1,536)	(5,344)				3,808
Share issuances by subsidiaries	51			25				26
Acquisition	84,555	83,953		602
Shares acquired and cancelled	(6,879)	(6,879)
Share-based compensation	12,936			12,936
Employee awards exercised		9,510		(9,510)
Distribution declared by subsidiaries	(20)							(20)
Ending balance at Dec. 31, 2023	$ 1,229,340	$ 2,375,950	$ 2,260	$ 73,014	$ 2,279	$ (1,260,851)	$ 19,417	$ 17,271

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Operating activities
Net loss for the period	$ (176,551)	$ (372,428)
Adjustments for:
Income tax recovery	0	(7,342)
Interest and fee revenue	(14,517)	(16,739)
Change in fair value of biological assets	7,936	1,309
Share-based compensation	15,400	9,671
Depreciation and amortization	64,946	47,322
Loss on disposition of assets	353	94
Inventory impairment and obsolescence	30,644	7,012
Finance costs, net	11,362	41,314
Change in estimate of fair value of derivative warrants	(6,602)	(10,783)
Unrealized foreign exchange gain	(13)	(16)
Transaction costs	1,221	0
Asset impairment	54,967	196,033
Share of (profit) loss of equity-accounted investees	(6,758)	43,002
Realized loss on settlement of marketable securities	138,874	0
Unrealized (gain) loss on marketable securities	(129,616)	65,553
Additions to marketable securities	0	(3,500)
Proceeds from settlement of marketable securities	6,704	0
Income distributions from equity-accounted investees	0	1,661
Interest received	13,563	13,403
Exercise of cash-settled deferred share units	0	(204)
Change in non-cash working capital	(32,875)	(22,073)
Net cash used in operating activities from continuing operations	(20,962)	(6,711)
Net cash provided by operating activities from discontinued operations	4,314	0
Net cash used in operating activities	(16,648)	(6,711)
Investing activities
Additions to property, plant and equipment	(7,845)	(10,666)
Additions to intangible assets	(87)	(197)
Additions to investments	(732)	(75,598)
Additions to equity-accounted investees	(25,089)	(119,137)
Proceeds from disposal of property, plant and equipment	1,213	4,000
Acquisitions, net of cash acquired	3,695	(28,640)
Change in non-cash working capital	4,028	74
Net cash used in investing activities from continuing operations	(24,817)	(230,164)
Net cash used in investing activities from discontinued operations	0	0
Net cash used in investing activities	(24,817)	(230,164)
Financing activities
Change in restricted cash	(553)	7,675
Payments on lease liabilities, net	(41,013)	(27,693)
Repurchase of common shares, net of costs	(1,536)	(13,390)
Proceeds from issuance of shares, net of costs	0	22
Distributions declared by subsidiaries	(20)	(24)
Repayment of long-term debt	0	(10,000)
Change in non-cash working capital	42	1,620
Net cash used in financing activities from continuing operations	(43,080)	(41,790)
Net cash used in financing activities from discontinued operations	0	0
Net cash used in financing activities	(43,080)	(41,790)
Change in cash and cash equivalents	(84,545)	(278,665)
Cash and cash equivalents, beginning of period	279,586	558,251
Cash and cash equivalents, end of period	$ 195,041	$ 279,586

Description of Business

Description of Business	12 Months Ended
	Dec. 31, 2023
Description Of Business [Abstract]
Description of Business	1. Description Of Business SNDL Inc. (“SNDL” or the “Company”) was incorporated under the Business Corporations Act (Alberta) on August 19, 2006. On July 25, 2022, the Company’s shareholders approved a special resolution amending the articles of SNDL to change the name of the Company from “Sundial Growers Inc.” to “SNDL Inc.”. The Company’s head office is located at 300, 919 11th Avenue SW, Calgary, Alberta, Canada. The principal activities of the Company are the retailing of wines, beers and spirits, the operation and support of corporate-owned and franchise retail cannabis stores in Canadian jurisdictions where the private sale of recreational cannabis is permitted, the manufacturing of cannabis products providing proprietary cannabis processing services, the production, distribution and sale of cannabis domestically and for export pursuant to the Cannabis Act (Canada) (the “Cannabis Act”), and the deployment of capital to investment opportunities. The Cannabis Act regulates the production, distribution, and possession of cannabis for both medical and adult recreational access in Canada. The Company also owns approximately 63% of Nova Cannabis Inc. (“Nova”) (TSX: NOVC), whose principal activities are the retail sale of cannabis. SNDL and its subsidiaries operate solely in Canada. Through its joint venture, SunStream Bancorp Inc. (“SunStream”) (note 19), the Company provides growth capital that pursues indirect investment and financial services opportunities in the cannabis sector, as well as other investment opportunities. The Company also makes strategic portfolio investments in debt and equity securities. The Company’s common shares trade on the Nasdaq Capital Market under the ticker symbol “SNDL”.

Basis of Presentation

Basis of Presentation	12 Months Ended
	Dec. 31, 2023
Disclosure Of Basis Of Presentation [Abstract]
Basis of Presentation	2. Basis of presentation A) Statement of compliance These consolidated financial statements have been prepared in accordance with International Financial Reporting Standards, as issued by the International Accounting Standards Board (“IFRS Accounting Standards”) and interpretations of the International Financial Reporting Interpretations Committee in effect as of December 31, 2023. These consolidated financial statements were approved and authorized for issue by the board of directors of SNDL (the “Board”) on March 20, 2024. B) Basis of measurement These consolidated financial statements have been prepared on a historical cost basis, except for biological assets, deferred share units (“DSUs”) and certain financial instruments (note 34(a)) which are measured at fair value with changes in fair value recorded in profit or loss. C) Functional and presentation currency These consolidated financial statements are presented in Canadian dollars, which is the functional currency of the Company and its Canadian-based subsidiaries. The Company’s equity-accounted joint venture uses the United States dollar as its functional currency. Transactions in currencies other than the functional currency are translated at the rate prevailing at the date of transaction. Monetary assets and liabilities that are denominated in foreign currencies are translated at the rate prevailing at each reporting date. Income and expense amounts are translated at the dates of the transactions. In preparing the Company’s consolidated financial statements, the financial statements of foreign subsidiaries and the foreign equity-accounted joint venture are translated into Canadian dollars, the presentation currency of the Company. The assets and liabilities of foreign operations that do not have a functional currency of Canadian dollars, are translated into Canadian dollars using exchange rates at the reporting date. Revenues and expenses of foreign operations are translated into Canadian dollars using foreign exchange rates that approximate those on the date of the underlying transactions. Foreign exchange differences from the translation of foreign subsidiaries and the foreign equity-accounted joint venture into Canadian dollars are recognized in other comprehensive income (“OCI”). The Company’s consolidated financial statements include its share of the Canadian dollar profit or loss and OCI of the equity-accounted joint venture. D) Basis of consolidation Subsidiaries are entities controlled by the Company. Control exists when the Company has the power, directly and indirectly, to govern the financial and operating policies of an entity and be exposed to the variable returns from its activities. The financial statements of subsidiaries are included in these consolidated financial statements from the date that control commences until the date that control ceases. All intercompany balances, income and expenses and unrealized gains and losses resulting from intercompany transactions are eliminated upon consolidation.

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
	Dec. 31, 2023
Disclosure Of Significant Accounting Policies [Abstract]
Significant Accounting Policies	3. Significant accounting policies The accounting policies set out below have been applied consistently to all periods presented in these consolidated financial statements. CASH AND CASH EQUIVALENTS Cash and cash equivalents include cash on hand, deposits held with banks and other short-term liquid investments with maturities of less than 90 days. RESTRICTED CASH Restricted cash is recorded as current assets representing minimum funding requirements for two separate captive insurance structures. BIOLOGICAL ASSETS The Company’s biological assets consist of cannabis plants. The Company capitalizes all direct and indirect costs related to the biological transformation of the biological assets between the point of initial recognition and the point of harvest, including labour-related costs, consumables, materials, utilities, facilities costs, depreciation and quality and testing costs. Biological assets are then recorded at fair value and consist of cannabis plants in various stages of vegetation, including cannabis clones which have not been harvested. Net unrealized changes in fair value of biological assets less costs to sell during the period are included in the results of operations for the related period. Biological assets are valued in accordance with International Accounting Standard 41 – Agriculture (“IAS 41”) and are presented at their fair values less costs to sell up to the point of harvest. The fair values are determined using a model which estimates the expected harvest yield in grams for plants currently being cultivated, and then adjusts the amount for the expected selling price less costs to produce and sell per gram. The fair value measurements for biological assets have been categorized as Level 3 fair values based on the inputs to the valuation technique used. The Company’s method of accounting for biological assets attributes value accretion on a straight-line basis throughout the life of the biological asset from initial cloning to the point of harvest. The estimated expected harvest yield is based on assumptions of the estimated yield per plant and the weighted average number of growing weeks completed as a percentage of total expected growing weeks as at year end. These estimates are subject to volatility in market prices, market conditions, yields and costs, which could significantly affect the fair value of biological assets in future periods. Differences from the anticipated yield will be reflected in the net change in fair value of biological assets in future periods. INVENTORY Procured cannabis Inventory is valued at the lower of cost and net realizable value. Cost of cannabis and biomass is comprised of initial third-party acquisition costs, plus analytical testing costs. Costs of extracted cannabis, hemp oil and finished goods inventory are comprised of initial acquisition cost of the biomass and all direct and indirect processing costs including labour-related costs, consumables, materials, packaging supplies, utilities, facility costs, analytical testing costs and production-related depreciation. Net realizable value is determined as the estimated selling price in the ordinary course of business less the estimated cost of completion and the estimated costs necessary to make the sale. Packaging and supplies are initially valued at cost and subsequently at the lower of cost and net realizable value. Harvested cannabis Inventories of harvested cannabis are valued at the lower of cost and net realizable value. Inventories of harvested cannabis are transferred from biological assets at their fair value less costs to sell up to the point of harvest, which becomes the initial deemed cost. All subsequent direct and indirect post-harvest costs are capitalized to inventory as incurred, including labour-related costs, consumables, materials, packaging supplies, utilities, facilities costs, as well as quality and testing costs. Net realizable value is determined as the estimated selling price in the ordinary course of business less the estimated costs of completion and the estimated costs necessary to make the sale. Cannabis supplies and consumables are initially valued at cost and subsequently at the lower of cost and net realizable value. The valuation of biological assets at the point of harvest is used as the measurement basis for all cannabis-based inventory and, thus, any critical estimates and judgements related to the valuation of biological assets are also applicable to inventory. The valuation of work-in-progress and finished goods also requires the estimate of conversion costs incurred, which become part of the carrying amount of the inventory. Retail inventory Retail inventory at Company-owned stores is valued at the lower of cost and net realizable value. Net realizable value is the estimated selling price in the ordinary course of business, less estimated costs of selling the final product. Cost is determined using the weighted average method and comprises direct purchase costs. Inventory is written down to its net realizable value when the cost of inventory is estimated to be unrecoverable due to obsolescence, damage or declining selling prices. The Company makes estimates related to obsolescence, future selling prices, seasonality, customer behavior and fluctuations in inventory levels. PROPERTY, PLANT, AND EQUIPMENT Property, plant and equipment (“PP&E”) are carried at cost less accumulated depreciation, less any recognized impairment losses. The cost of additions, betterments, renewals, and interest during construction is capitalized. Each part of a component of PP&E with a cost that is significant in relation to the total cost of the component is depreciated separately. When the cost of replacing a portion of a component of PP&E is capitalized, the carrying amount of the replaced component is derecognized. Depreciation of construction in progress assets commences at the later of the assets being ready for their intended use or when a Health Canada producer’s licence is granted. The assets’ residual values and useful lives are reviewed, and adjusted as appropriate, at the end of each reporting period. Changes in the expected useful life or the expected pattern of consumption of future economic benefits embodied in the asset are accounted for by adjusting the depreciation period or method, as appropriate, and are treated as changes in accounting estimates. Any gain or loss arising on the disposal or retirement of a component of PP&E is determined as the difference between the sale proceeds and the carrying amount of the asset and is recognized in profit and loss. PP&E are depreciated as they become available for use. Buildings are not depreciated until a producer’s licence is obtained, if required for operation. For assets available for use, depreciation is computed using the straight-line method over the estimated useful lives of the assets, as described below: • Production facilities — 20 years • Equipment — 1 to 10 years • Right of use assets and leasehold improvements — Shorter of estimated useful life or lease term LEASES A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. As a lessee The Company recognizes a right of use asset and a lease liability at the lease commencement date. The right of use asset is initially measured at cost and any direct costs of obtaining the lease, and subsequently at cost less any accumulated depreciation and impairment losses and adjusted for certain remeasurements of the lease liability. Depreciation is recognized on the lease asset over the shorter of the estimated useful life of the asset or the lease term. The lease liability is initially measured at the present value of the lease payments that have not been paid at the commencement date, discounted at the rate implicit in the lease or, if that rate cannot be readily determined, the Company’s incremental borrowing rate. The lease liability is subsequently increased by the interest cost on the lease liability and decreased by lease payments made. Lease payments are allocated between the liability and accretion expense. Accretion expense is recognized on the lease liability using the effective interest rate method and payments are applied against the lease liability. The carrying amounts of the right of use assets, lease liability, and the resulting interest and depreciation expense are based on the implicit interest rate within the lease arrangement or, if this information is unavailable, the incremental borrowing rate. Incremental borrowing rates are based on judgements including economic environment, term, and the underlying risk inherent to the asset. As a lessor When the Company acts as a lessor, it determines at lease inception whether each lease is a finance lease or an operating lease. To classify each lease, the Company makes an overall assessment of whether the lease transfers substantially all of the risks and rewards incidental to ownership of the underlying asset. If this is the case, then the lease is a finance lease; if not, then it is an operating lease. Under a finance lease, the Company recognizes a receivable at an amount equal to the net investment in the lease which is the present value of the aggregate of lease payments receivable by the lessor. Under an operating lease, the Company recognizes lease payments received as income on a straight-line basis over the lease term. When the Company is an intermediate lessor, it accounts for its interests in the head lease and the sub-lease separately. It assesses the lease classification of a sub-lease with reference to the right of use asset arising from the head lease, not with reference to the underlying asset. INTANGIBLE ASSETS Intangible assets are recorded at cost less accumulated amortization and impairment losses, if any. Intangible assets acquired in a business combination are measured at fair value at the acquisition date. Amortization of definite life intangibles is provided on a straight-line basis over their estimated useful lives, once the intangible asset is available for use. If the intangible asset is not yet available for use it will be tested for impairment on an annual basis in accordance with International Accounting Standard 38 – Intangible Assets (“IAS 38”). Joint arrangements Joint arrangements represent activities where the Company has joint control established by a contractual agreement. Joint control requires unanimous consent for the relevant financial and operational decisions. A joint arrangement is either a joint operation, whereby the parties have rights to the assets and obligations for the liabilities, or a joint venture, whereby the parties have rights to the net assets. For a joint operation, the parties consolidate their proportionate share of the assets, liabilities, revenues, expenses and cash flows of the arrangement with items of a similar nature on a line-by-line basis, from the date that joint control commences until the date that joint control ceases. Joint ventures are accounted for using the equity method of accounting and are initially recognized at cost, or fair value if acquired as part of a business combination. Joint ventures are adjusted thereafter for the post-acquisition change in the Company's share of the equity accounted investment's net assets. The Company’s consolidated financial statements include its share of the equity accounted investment's profit or loss and other comprehensive income, until the date that joint control ceases. When the Company’s share of losses exceeds its interest in an equity accounted investee, the carrying amount of that interest, including any long-term investments, is reduced to nil, and the recognition of further losses is discontinued except to the extent that the Company has an obligation or has made payments on behalf of the investee. Distributions from and contributions to investments in equity accounted investees are recognized when received or paid. Interests in equity-accounted investees The Company’s interest in equity-accounted investees comprise interests in an associate and a joint venture. Associates are those entities in which the Company has significant influence, but not control or joint control, over the financial and operating policies. A joint venture is an arrangement in which the Company has joint control, whereby the Company has rights to the net assets of the arrangement, rather than rights to assets and obligations for its liabilities. Interests in associates and joint ventures are accounted for using the equity method. They are initially recognized at cost, which includes transaction costs. Subsequent to initial recognition, the consolidated financial statements include the Company’s share of the profit or loss and OCI of equity-accounted investees, until the date on which significant influence or joint control ceases. FINANCIAL INSTRUMENTS The Company classifies the fair value of financial instruments according to the following hierarchy based on the amount of observable inputs used to value the instruments: Level 1 – unadjusted quoted prices in active markets for identical assets or liabilities. An active market for an asset or liability is a market in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis. Level 2 – quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 – unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Financial assets and liabilities are recognized when the Company becomes a party to the contractual provisions of the instrument. A financial asset or liability is measured initially at fair value plus, for an item not measured at fair value through profit and loss (“FVTPL”), transaction costs that are directly attributable to its acquisition or issuance. (i) Financial assets At initial recognition, a financial asset is classified and measured at: amortized cost, FVTPL or fair value through other comprehensive income (“FVOCI”) depending on the business model and contractual cash flows of the instrument. Financial assets at amortized cost are subsequently measured at amortized cost using the effective interest rate method. The amortized cost is reduced by impairment losses. Interest income, foreign exchange gains and losses and impairment are recognized in profit or loss. Financial assets at FVTPL are subsequently measured at fair value. Net gains and losses, including any interest or dividend income, are recognized in profit or loss. Financial assets are derecognized when the rights to receive cash flows from the assets have expired or have been transferred and the Company has transferred substantially all risks and rewards of ownership. A substantial modification to the terms of an existing financial asset results in the derecognition of the financial asset and the recognition of a new financial asset at fair value. In the event that the modification to the terms of an existing financial asset do not result in a substantial difference in the contractual cash flows the gross carrying amount of the financial asset is recalculated and the difference resulting from the adjustment in the gross carrying amount is recognized in profit or loss. The Company’s cash and cash equivalents, restricted cash and accounts receivable, are measured at amortized cost. The Company’s marketable securities are measured at FVTPL. The Company’s investments are measured at amortized cost and FVTPL. The Company has no financial assets measured at FVOCI. (ii) Financial liabilities Financial liabilities are initially measured at amortized cost or FVTPL. Accounts payable and accrued liabilities are initially recognized at the amount required to be paid less any required discount to reduce the payables to fair value. Financial liabilities at FVTPL are measured at fair value and net gains and losses, including any interest expense and foreign exchange gains and losses, are recognized in profit or loss. Financial liabilities are derecognized when the liability is extinguished. A substantial modification of the terms of an existing financial liability is recorded as an extinguishment of the original financial liability and the recognition of a new financial liability. The difference between the carrying amount of a financial liability extinguished and the consideration paid is recognized in profit or loss. Where a financial liability is modified in a way that does not constitute an extinguishment, the modified cash flows are discounted at the liability’s original effective interest rate. Transaction costs paid to third parties in a modification are amortized over the remaining term of the modified debt. The Company’s accounts payable and accrued liabilities and financial guarantee liability (included in other liabilities) are measured at amortized cost. The Company’s derivative warrant liabilities were designated as FVTPL upon initial recognition. IMPAIRMENT OF ASSETS Management assesses and continually monitors internal and external indicators of impairment relating to the Company’s assets. (i) Financial assets The Company applies an expected credit loss (“ECL”) model to all financial assets not held at FVTPL where credit losses that are expected to transpire in future years are provided for, irrespective of whether a loss event has occurred or not as at the statement of financial position date. For trade receivables, the Company has applied the simplified approach under International Financial Reporting Standard 9 – Financial Instruments (“IFRS 9”) and have calculated ECLs based on lifetime expected credit losses, taking into consideration historical credit loss experience and financial factors specific to the debtors and general economic conditions. ECLs are a probability-weighted estimate of credit losses. Credit losses are measured as the present value of the difference between the cash flows due in accordance with the contract and the cash flow the Company expects to receive. ECLs are discounted at the effective interest rate of the financial asset. For financial assets measured at amortized cost, the Company has applied the general approach under IFRS 9 and has calculated ECLs based on lifetime expected credit losses, taking into consideration whether the credit risk of a financial asset has increased significantly since initial recognition. When determining whether the credit risk of a financial asset has increased significantly since initial recognition and when estimating ECLs, the Company considers quantitative and qualitative information and analysis, based on the Company’s historical experience and informed credit assessment, that includes forward-looking information. (ii) Non-financial assets The carrying amounts of the Company’s PP&E, right of use assets and intangible assets are assessed for impairment indicators and impairment reversal indicators at each reporting period end to determine whether there is an indication that such assets have experienced impairment or impairment reversal. If such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss or impairment reversal, if any. An impairment loss is recognized for the amount by which the asset’s carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset’s or group of asset’s estimated fair value less costs of disposal and its value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable independent cash inflows (a cash generating unit (“CGU”)). Where an impairment loss is subsequently determined to have reversed, the carrying amount of the asset or CGU is adjusted to the revised estimate of its recoverable amount but limited to the carrying amount that would have been determined had no impairment loss been recognized previously. A reversal of an impairment loss, net of any depreciation that would have been recorded, is recognized immediately in the statements of loss and comprehensive loss. Goodwill is assessed for impairment annually or when facts and circumstances indicate that it might be impaired. Goodwill is tested for impairment at a CGU level by comparing the carrying amount to the recoverable amount, which is determined as the greater of fair value less costs of disposal and value in use. Any excess of the carrying amount over the recoverable amount is the impaired amount. The recoverable amount estimates are categorized as Level 3 according to the fair value hierarchy. Impairment charges are recognized in profit and loss. Goodwill is reported at cost less any accumulated impairment. Goodwill impairments are not reversed. Provisions A provision is recognized when the Company has a present legal or constructive obligation as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation, and the amount of the obligation can be reliably estimated. The amount of a provision is the best estimate of the consideration at the end of the reporting period. Provisions measured using estimated cash flows required to settle the obligation are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and, where appropriate, the risks specific to the liability. A provision for onerous contracts is recognized when the expected benefits to be derived by the Company from a contract are lower than the unavoidable cost of meeting its obligations under the contract. The Company has no onerous contracts during the years ended and as at December 31, 2023 and 2022. NON-MONETARY TRANSACTIONS All non-monetary transactions are measured at the fair value of the asset surrendered or the asset received, whichever is more reliable, unless the transaction lacks commercial substance, or the fair value cannot be reliably established. The lack of commercial substance requirement is met when the future cash flows are expected to change significantly as a result of the transaction. When the fair value of a non-monetary transaction cannot be reliably measured, it is recorded at the carrying amount (after reduction, when appropriate, for impairment) of the asset given up, adjusted by the fair value of any monetary consideration received or given. When the asset received or the consideration given consists of shares in an actively traded market, the value of those shares will be considered fair value. COMPOUND FINANCIAL INSTRUMENTS The liability component of a compound financial instrument is recognized initially at the fair value of a similar liability which does not have an equity conversion option. The equity component is recognized initially as the difference between the fair value of the compound financial instrument taken as a whole and the fair value of the liability component. Any directly attributable transaction costs are allocated to the liability and equity components in proportion to their initial carrying amounts. Subsequent to initial recognition, the liability component of a compound financial instrument is measured at amortized cost using the effective interest method. The equity component of a compound financial instrument is not re-measured subsequent to initial recognition. Interest and losses and gains relating to the financial liability are recognized in profit and loss. On conversion, the financial liability is reclassified to equity; no gain or loss is recognized on conversion. REVENUE Under International Financial Reporting Standard 15 – Revenue from Contracts with Customers (“IFRS 15”), to determine the amount and timing of revenue to be recognized, the Company follows a five-step model: 1. Identifying the contract with a customer 2. Identifying the performance obligations 3. Determining the transaction price 4. Allocating the transaction price to the performance obligations 5. Recognizing revenue when/as performance obligations are satisfied Cannabis revenue Gross revenue from the direct sale of cannabis for a fixed price is recognized when the Company transfers control of the goods to the customer. The transfer of control is specific to each contract and can range from the point of delivery to a specified length of time for the customer to accept the goods. The Company eliminates cannabis revenue and related cost of sales from sales to provincial boards when it is expected to be subsequently repurchased by its licensed retailer subsidiaries for resale, at which point the full retail sales revenue will be recognized. For contracts that permit the customer to return goods, revenue is recognized to the extent that it is highly probable that a significant reversal in the amount of cumulative revenue recognized will not occur. Therefore, the amount of revenue recognized is adjusted for expected returns, which are estimated based on historical data and management’s expectation of future returns. In these circumstances, a refund liability and a right to recover returned goods asset are recognized. The right to recover returned goods asset is measured at the former carrying amount of the inventory less any expected costs to recover goods. The refund liability is included in accounts payable and accrued liabilities and the right to recover returned goods is included in inventory. The Company reviews its estimate of expected returns at each reporting date and updates the amounts of the asset and liability accordingly. Gross revenue earned in Canada includes excise taxes, which the Company pays as principal, but excludes duties and taxes collected on behalf of third parties. Net revenue is gross revenue less excise taxes. Gross revenue is recognized to the extent that it is highly probable that a significant reversal will not occur. Therefore, gross revenue is stated net of expected price discounts, allowances for customer returns and similar items. Generally, payment of the transaction price is due within credit terms that are consistent with industry practices, with no element of financing. Retail revenue Retail revenue consists of sales through corporate stores and e-commerce operations. Revenue at corporate stores is recognized at the point of sale when the customer takes control of the goods or service and is measured at the amount of consideration to which the Company expects to be entitled to, net of estimated returns, and sales incentives. The Company considers its performance obligations to be satisfied at the point of sale. The Company’s goods and services are generally capable of being distinct and are accounted for as a separate performance obligation. Sales through e-commerce operations are recognized when the customer takes control of the goods or services upon delivery and is measured at the amount of consideration to which the Company expects to be entitled, net of estimated returns, and sales incentives. It is the Company’s policy to sell merchandise with a limited right to return. Returns are only provided through exchanges or the issuance of a gift card. The Company sells gift cards. The sale of a gift card creates a future performance obligation. When (or as) the performance obligation is satisfied, the Company recognizes revenue as the amount of the transaction price. Franchise revenue Franchise fees are recognized at a point in time when the Company satisfies its performance obligations which is determined to be when the franchise begins operations. Performance obligations include site selection, lease assistance and training. Initial franchise fees are allocated to the performance obligations based on the estimated standalone selling prices. Funds received in advance of a franchise starting operations are recorded as franchise fee deposits. Ongoing royalty and advertisement fees, which are determined on a formula basis in accordance with the terms of the relevant franchise agreement, based on monthly revenues or margins of the franchisees, are recognized as revenue when the contractual performance obligations have been achieved or other service-related performance obligations have been completed. The performance obligations relate to providing support to the franchise partners and stewarding the Spiritleaf brand. While the franchisees are operating under the name Spiritleaf, they utilize the Spiritleaf trademark, thereby, the Company has performed its obligations to recognize the revenue, as per the franchise agreements. Other revenue Proprietary licensing revenue is generated from proprietary licensing services provided to customers. Revenue is recognized when the services are delivered to the customer at a point in time as outlined by the contract. The Company does not operate or manage these services separately from its primary retail sales or operations, and there are no significant costs of sale related to proprietary licensing revenue. Millwork revenue is defined as the proceeds and receivables related to the sale of millwork, which includes store fixtures. Millwork revenue is recognized at a point in time when a contractual exchange agreement has been entered into, and the performance obligation is considered to have been met when the millwork has been delivered to the franchise partner. Supply revenue represents revenues earned from the sales of custom Spiritleaf accessories to franchise locations. The Spiritleaf accessory revenue is earned when the goods are shipped. RESEARCH AND DEVELOPMENT Research costs are expensed in the period incurred. Development costs are expensed in the period incurred unless the Company believes a development project meets the generally accepted criteria for deferral and amortization per IAS 38. Research and development costs comprise consulting fees, costs to cultivate and test cultivar batches to the point of commercialization and licence acquisition fees. No development costs have been capitalized as at December 31, 2023, or December 31, 2022. SHARE-BASED COMPENSATION The Company’s share-based compensation plans include equity-settled awards and cash-settled awards. The fair value of share-based compensation expenses is estimated using the Black-Scholes pricing model and relies on a number of estimates, such as the expected life of the award, the volatility of the underlying share price, the risk-free rate of return and the estimated rate of forfeiture of awards granted. Equity-settled Simple and performance warrants, stock options and restricted share units (“RSUs”) are granted from time to time to employees, directors, and others at the discretion of the Board. The grant date fair value of simple warrants, performance warrants, stock options and RSUs is recognized as share-based compensation expense, with a corresponding increase in contributed surplus, over the vesting period of the awards. On exercise of simple warrants, performance warrants and stock options, the cash consideration received is credited to share capital and the associated amount in contributed surplus is reclassified to share capital. On exercise of RSUs, the associated amount in contributed surplus is reclassified to share capital. Cash-settled DSUs are granted to directors and represent a right for the holder to receive a cash payment equal to the fair value of the Company’s common shares calculated at the date of such payment. Nova DSUs are granted to Nova directors and represent a right for the holder to receive a cash payment equal to the fair value of Nova’s common shares calculated at the date of such payment, or Nova common shares, at the discretion of Nova. DSUs are accounted for as a liability instrument and measured at fair value based on the market value of the Company’s common shares at each period end. The fair value is recognized as share-based compensation over the vesting period. Fluctuations in the fair value are recognized within share-based compensation in the period in which they occur. INCOME TAXES Income taxes are recognized in profit and loss, except to the extent that they relate to items recognized directly in equity, in which case the tax is recognized in equity. Current taxes are generally the expected income tax payable on taxable income for the reporting period, calculated using rates enacted or substantively enacted at the consolidated

Significant Accounting Estimate

Significant Accounting Estimates, Assumptions and Judgements	12 Months Ended
	Dec. 31, 2023
Disclosure of initial application of standards or interpretations [abstract]
Significant accounting estimates, assumptions and judgements	4. Significant accounting estimates, assumptions and judgements The preparation of these consolidated financial statements in accordance with IFRS Accounting Standards requires management to make judgements, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. Judgement is used mainly in determining whether a balance or transaction should be recognized in the consolidated financial statements. Estimates and assumptions are mostly used in determining the measurement of recognized transactions and balances. However, judgements and estimates are often interrelated. Judgements, estimates and assumptions are continually evaluated and are based on factors including expectations of future events that are believed to be reasonable under the circumstances. Revisions to accounting estimates are recognized in the period in which the estimates are revised and in future periods affected. Judgements, assumptions and estimation uncertainties that have a significant risk of resulting in a material adjustment include the following: IMPAIRMENTS CGU’s are defined as the lowest grouping of integrated assets that generate identifiable cash inflows that are largely independent of the cash inflows of other assets or groups of assets. The classification of assets into CGU’s requires significant judgement and interpretations with respect to the integration between assets, the existence of active markets, external users, shared infrastructure and the way in which management monitors the Company’s operations. The recoverable amounts of CGU’s and individual assets have been determined as the higher of the CGU’s or the asset’s fair value less costs of disposal and its value in use. These calculations require the use of estimates and assumptions and are subject to changes as new information becomes available including information on the likelihood of obtaining future licences from Health Canada, total addressable market, market share escalation factor, gross profit escalation factor, terminal multiple and discount rates. Changes in assumptions used in determining the recoverable amount could affect the carrying value of the related assets and CGU’s. BIOLOGICAL ASSETS AND INVENTORY Biological assets, comprising cannabis plants and agricultural product consisting of cannabis, are measured at fair value less costs to produce and sell up to the point of harvest. Determination of the fair values of the biological assets and the agricultural product requires the Company to make assumptions about how market participants assign fair values to these assets. These assumptions primarily relate to the level of effort required to bring the cannabis up to the point of harvest, costs to convert the harvested cannabis to finished goods, sales price, risk of loss, expected future yields from the cannabis plants and estimating values during the growth cycle. The valuation of biological assets at the point of harvest is used as the measurement basis for all internally cultivated cannabis-based inventory and thus any critical estimates and judgements related to the valuation of biological assets are also applicable to inventory. The valuation of work-in-progress and finished goods also requires the estimate of conversion costs incurred, which become part of the carrying amount of the inventory. The Company must also determine if the carrying value of any inventory exceeds its net realizable value, such as cases where prices have decreased, or inventory has spoiled or has otherwise been damaged. Revenue Government customers typically have a right of product return, and in some cases, the right to pricing adjustments for products that are subsequently discounted or sold for a lower price in another jurisdiction. Licensed producers can, in some cases, have a right of product return or warranty period. The estimate of potential future returns includes the use of estimates and assumptions and are subject to change as new information becomes available. ACQUISITIONS The Company assesses whether an acquisition should be accounted for as an asset acquisition or a business combination under International Financial Reporting Standard 3 – Business Combinations (“IFRS 3”). This assessment requires management to make judgements on whether the assets acquired and liabilities assumed constitute a business as defined in IFRS 3 and if the integrated set of activities, including inputs and processes acquired, is capable of being conducted and managed as a business and the Company obtains control of the business inputs and processes. Investments The Company’s investments at FVTPL are financial assets measured at fair value each reporting period. The determination of the fair value of each investment requires judgement from management and the primary assumption is the discount rate. equity-accounted investees The Company’s interest in a joint venture is accounted for using the equity-method. The current investment portfolio of the joint venture is comprised of secured debt and hybrid instruments which include options and warrants. These investments are recorded at fair value each reporting period with any changes in fair value recorded through profit or loss. The determination of the fair value of the underlying investments is based on a discounted cash flow methodology and requires judgement from management. The discounted cash flows are based on various assumptions, including an estimation of market prices, volatility and discount rates. The Company has independent valuations done every quarter.

Business Acquisitions

Business Acquisitions	12 Months Ended
	Dec. 31, 2023
Disclosure of detailed information about business combination [abstract]
Business Acquisitions	5. Business acquisitions A) Alcanna On October 7, 2021, the Company announced that it had entered into an arrangement agreement with Alcanna Inc. (“Alcanna”) pursuant to which the Company would acquire all of the issued and outstanding common shares of Alcanna by way of a statutory plan of arrangement (the “Alcanna Transaction”). The Company and Alcanna amended the arrangement agreement in respect of the Alcanna Transaction on January 6, 2022 , and the Alcanna Transaction closed on March 31, 2022 . Alcanna is a Canadian liquor retailer, operating predominantly in Alberta under its three retail brands, “Wine and Beyond”, “Liquor Depot” and “Ace Liquor”. Alcanna holds an approximate 63 % equity interest in Nova, a Canadian cannabis retailer operating stores across Alberta, Saskatchewan and Ontario, under its “Value Buds” and “Sweet Tree” retail brands. The Company is deemed to control Nova through its equity interest and Nova’s results are included in the consolidated financial statements of the Company with the minority interest shown as non-controlling interest through equity. Alcanna was acquired to diversify and stabilize cash flows and advance the Company’s vertical integration strategy. The Alcanna Transaction consideration was comprised of (i) an aggregate $ 54.3 million cash ($ 1.50 in cash for each Alcanna common share), and (ii) an aggregate 32.1 million SNDL common shares valued at $ 287.1 million based on the fair value of each common share of the Company on the closing date ( 0.885 of a SNDL common share for each Alcanna common share). The Company engaged independent valuation experts to assist in determining the fair value of certain assets acquired and liabilities assumed and related deferred income tax impacts, if any. The fair value of consideration paid was as follows: Provisional Adjustments Final Cash 54,339 — 54,339 Issuance of common shares 287,129 — 287,129 341,468 — 341,468 The fair value of the assets and liabilities acquired was as follows: Provisional Adjustments Final Cash 23,190 — 23,190 Accounts receivable 1,868 — 1,868 Prepaid expenses and deposits 10,986 — 10,986 Inventory 105,022 — 105,022 Right of use assets 171,866 ( 31,117 ) 140,749 Property, plant and equipment 86,059 24,632 110,691 Intangible assets — 45,100 45,100 Goodwill 280,243 ( 129,308 ) 150,935 Accounts payable and accrued liabilities ( 36,703 ) ( 44 ) ( 36,747 ) Long-term debt ( 10,000 ) — ( 10,000 ) Lease liabilities ( 232,755 ) 90,736 ( 142,019 ) Derivative warrants ( 58 ) ( 27 ) ( 85 ) Non-controlling interest ( 58,250 ) 28 ( 58,222 ) 341,468 — 341,468 Non-controlling interest has been measured as the fair value of the non-controlling interest in Nova, which at the time was 37 %, and was measured by applying a market approach with reference to Nova’s closing share price on the day of the Alcanna Transaction of $ 2.66 . On March 31, 2022, the Company repaid in full the acquired long-term debt balance of $ 10.0 million. These consolidated financial statements incorporate the operations of Alcanna commencing March 31, 2022. During the period March 31, 2022 to December 31, 2022, the Company recorded revenu es of $ 639.5 mi llion and net loss of $ 101.0 million from the Alcanna operations. Had the Alcanna Transaction closed on January 1, 2022, management estimates that for the period January 1, 2022, to March 30, 2022, revenue would have increased by $ 162.5 million and net loss would have increased by $ 25.5 million. In determining these amounts, management assumes the fair values on the date of acquisition would have been the same as if the acquisition had occurred on January 1, 2022. The Company incurred costs related to the Alcanna Transaction of $ 7.0 million which have been included in transaction costs for the year ended December 31, 2022. The Company recorded adjustments to the fair value in the fourth quarter of 2022 to reflect additional information and greater certainty with respect to management estimates pertaining to facts and circumstances that were either unknown or uncertain at the date of acquisition. These adjustments related to changes in preliminary valuation assumptions, including refinement of right of use assets, property, plant and equipment, intangible assets, accounts payable and accrued liabilities, lease liabilities, derivative warrants and non-controlling interest. All measurement period adjustments were offset to goodwill. B) Zenabis On November 1, 2022, the Company announced that, in the context of proceedings pursuant to the Zenabis Group’s (as defined below) filing under the Companies’ Creditors Arrangement Act (“CCAA”), it had successfully acquired all of the assets of the business of the Zenabis Group, subject to certain exclusions, (the “Zenabis Business”), pursuant to an approval order of the Québec Superior Court (the “Court”). The order of the Court approved the acquisition by a wholly owned subsidiary of SNDL of all issued and outstanding shares of Zenabis Ltd., a corporation resulting from the amalgamation of select Zenabis entities (collectively, the “Zenabis Group”), as part of the consideration for the senior secured debt of the Zenabis Group due to the SNDL subsidiary. Zenabis Ltd. owns all of the Zenabis Business, free and clear of any encumbrances except certain permitted encumbrances (namely the security of the wholly owned subsidiary of SNDL, which was preserved). The Zenabis acquisition consideration was comprised of (i) the extinguishment of the Company’s senior loan. The Company engaged independent valuation experts to assist in determining the fair value of certain assets acquired and liabilities assumed and related deferred income tax impacts, if any. The fair value of consideration paid was as follows: Final Extinguishment of senior loan 18,215 18,215 The fair value of the assets and liabilities acquired was as follows: Final Cash 2,509 Accounts receivable 888 Biological assets 909 Prepaid expenses and deposits 1,856 Inventory 4,512 Assets held for sale 6,375 Right of use assets 32 Property, plant and equipment 4,658 Accounts payable and accrued liabilities ( 3,437 ) Lease liabilities ( 87 ) 18,215 Assets held for sale are comprised of a processing facility in Stellarton, Nova Scotia, whose primary purpose was the packaging and processing of value added and derivative products for the adult-use cannabis market. These consolidated financial statements incorporate the operations of Zenabis commencing November 1, 2022. During the period November 1, 2022 to December 31, 2022, the Company recorded revenu es of $ 0.4 mi llion and net loss of $ 1.8 million from the Zenabis operations. Had the acquisition closed on January 1, 2022, management estimates that for the period January 1, 2022, to October 31, 2022, revenue would have increased by $ 2.0 million and net loss would have increased by $ 9.0 million. In determining these amounts, management assumes the fair values on the date of acquisition would have been the same as if the acquisition had occurred on January 1, 2022. The Company incurred costs related to the Zenabis acquisition of $ 0.8 million which have been included in transaction costs for the year ended December 31, 2022. C) Valens On January 17, 2023, the Company acquired all of the issued and outstanding common shares of The Valens Company Inc. (“Valens”), other than those owned by SNDL and its subsidiaries, by way of a statutory plan of arrangement (the “Valens Transaction”). The Valens Transaction consideration was comprised of (i) the assumption of Valens’ $ 60 million non-revolving term loan facility from its then existing lender, (ii) an aggregate 27.6 million SNDL common shares valued at $ 84.0 million based on the fair value of each common share of the Company on the closing date ( 0.3334 of a SNDL common share for each Valens common share), and (iii) contingent consideration valued at $ 0.6 million representing the fair value of Valens stock options. Valens is a manufacturer of cannabis products providing proprietary cannabis processing services, in addition to product development, manufacturing, and commercialization of cannabis consumer packaged goods. Valens products are formulated for the medical, health and wellness, and recreational consumer segments. The Company engaged independent valuation experts to assist in determining the fair value of certain assets acquired and liabilities assumed and related deferred income tax impacts, if any. The fair value of consideration paid was as follows: Provisional Adjustments Final Valens loan facility 61,512 — 61,512 Issuance of common shares 83,953 — 83,953 Contingent consideration — 602 602 145,465 602 146,067 Th e fair value of the assets and liabilities acquired was as follows: Provisional Adjustments Final Cash 3,615 — 3,615 Accounts receivable 21,361 — 21,361 Marketable securities 876 — 876 Prepaid expenses and deposits 4,980 — 4,980 Inventory 14,140 — 14,140 Assets held for sale 6,330 — 6,330 Right of use assets 2,882 — 2,882 Property, plant and equipment 63,030 ( 10,938 ) 52,092 Intangible assets 2,285 ( 785 ) 1,500 Goodwill 68,697 12,325 81,022 Accounts payable and accrued liabilities ( 34,185 ) — ( 34,185 ) Contractual obligation ( 5,339 ) — ( 5,339 ) Lease liabilities ( 3,207 ) — ( 3,207 ) 145,465 602 146,067 Valens subsidiary Green Roads, Inc. (“Green Roads”) was sold and has been classified as held for sale and discontinued operations (note 6). Valens facility located in Mission, British Columbia was also classified as held for sale and was disposed of during the current year (note 13). The financial statements incorporate the operations of Valens commencing January 18, 2023. During the period January 18, 2023 to December 31, 2023 the Company recorded gross revenues of $ 99.1 million and net loss of $ 85.8 million fro m the Valens operations. Had the Valens Transaction closed on January 1, 2023, management estimates that for the period January 1, 2023, to January 17, 2023, revenue would have increased by $ 4.2 million and net loss would have increased by $ 2.1 million. In determining these amounts, management assumes the fair values on the date of acquisition would have been the same as if the acquisi tion had occurred on January 1, 2023. The Company incurred costs related to the Valens Transaction of $ 2.8 million w hich have been included in transaction costs for the year ended December 31, 2023. D) Superette On February 7, 2023, the Company acquired the right, title and interest in (i) five Superette retail locations within Toronto and Ottawa; (ii) the intellectual property rights related to the Superette brand; and (iii) the shares of Superette Ontario (collectively, the “Superette Transaction”). The Superette acquisition consideration was comprised of the extinguishment of the Company’s promissory note. The fair value of consideration paid was as follows: Extinguishment of promissory note 2,625 2,625 The fair value of the assets and liabilities acquired was as follows: Cash 80 Accounts receivable 30 Prepaid expenses and deposits 141 Inventory 371 Right of use assets 1,129 Property, plant and equipment 2,077 Accounts payable and accrued liabilities ( 74 ) Lease liabilities ( 1,129 ) 2,625 The financial statements incorporate the operations of Superette commencing February 8, 2023. During the period February 8, 2023 to December 31, 2023 the Company recorded gross revenues o f $ 3.8 million and net loss of $ 2.0 million from the Superette operations. Had the Superette Transaction closed o n January 1, 2023, management estimates that for the period January 1, 2023, to February 7, 2023, revenue would have increased by $ 0.5 million and net loss would have increased by $ 0.1 million. In determining these amounts, management assumes the fair values on the date of acquisition would have been the same as if the acquisition had occurr ed on January 1, 2023. The Company incurred costs related to the Superette Transaction of $ 0.7 million which have been included in transaction costs for the year ended December 31, 2023. E) Inner spirit On May 5, 2021, the Company and Inner Spirit Holdings Ltd. (“Inner Spirit”) announced that they had entered into an arrangement agreement pursuant to which the Company acquired all of the issued and outstanding common shares of Inner Spirit (the “Inner Spirit Transaction”). The Inner Spirit Transaction closed on July 20, 2021 . The Inner Spirit Transaction consideration was comprised of (i) an aggregate $ 92.6 million cash ($ 0.30 in cash for each Inner Spirit common share), (ii) an aggregate 2.4 million SNDL common shares valued at $ 26.2 million based on the fair value of each common share of the Company on the closing date ( 0.00835 of a SNDL common share for each Inner Spirit common share) and (iii) contingent consideration valued at $ 1.2 million representing the fair value of Inner Spirit warrants. The Company engaged independent valuation experts to assist in determining the fair value of certain assets acquired and liabilities assumed and related deferred income tax impacts. The fair value of consideration paid was as follows: Provisional Adjustments Final Cash 92,583 — 92,583 Issuance of common shares 26,216 — 26,216 Contingent consideration 1,150 — 1,150 119,949 — 119,949 The fair value of the assets and liabilities acquired was as follows: Provisional Adjustments Final Cash 9,808 — 9,808 Accounts receivable 750 ( 327 ) 423 Prepaid expenses and deposits 853 — 853 Inventory 2,733 2,011 4,744 Right of use assets — 5,730 5,730 Property, plant and equipment 12,108 ( 5,730 ) 6,378 Intangible assets — 46,000 46,000 Net investment in subleases 23,751 50 23,801 Goodwill 114,537 ( 42,041 ) 72,496 Accounts payable and accrued liabilities ( 2,678 ) — ( 2,678 ) Convertible debentures ( 12,025 ) — ( 12,025 ) Lease liabilities ( 29,481 ) ( 50 ) ( 29,531 ) Financial guarantee liability ( 407 ) — ( 407 ) Deferred tax liability — ( 5,643 ) ( 5,643 ) 119,949 — 119,949 The Company recorded adjustments to the fair value in the third quarter of 2022 to reflect additional information and greater certainty with respect to management estimates pertaining to facts and circumstances that were either unknown or uncertain at the date of acquisition. These adjustments related to changes in preliminary valuation assumptions, including refinement of accounts receivable, inventory, net investment in subleases, lease liabilities and amounts allocated to intangible assets and deferred tax liability. All measurement period adjustments were offset to goodwill.

Discontinued Operations

Discontinued Operations	12 Months Ended
	Dec. 31, 2023
Disclosure of analysis of single amount of discontinued operations [abstract]
Discontinued Operations	6. Discontinued operations The Green Roads operations acquired as part of the Valens acquisition were classified as held for sale and discontinued operations as the carrying amount of the disposal group was expected to be recovered through a sale transaction rather than through continued use. Green Roads filed for bankruptcy on March 6, 2023. A successful bid of US$ 3.1 million was accepted and the sale was approved at a court hearing on May 10, 2023. The disposition of Green Roads closed on May 31, 2023 and a loss on disposition of $ 2.3 million was recorded. The consolidated statement of loss and comprehensive loss and consolidated statement of cash flows have been presented to show the discontinued operations separately from continuing operations. Results of discontinued operations Year ended 2023 2022 Net revenue 7,510 — Cost of sales 3,841 — Gross profit 3,669 — General and administrative 3,639 — Sales and marketing 1,817 — Depreciation and amortization 450 — Operating loss ( 2,237 ) — Finance costs ( 16 ) — Loss on disposition ( 2,282 ) — Net loss ( 4,535 ) —

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2023
Disclosure of operating segments [abstract]
Segment Information	7. Segment information The Company’s re portable segments are organized by business line and are comprised of four repo rtable segments: liquor retail, cannabis retail, cannabis operations, and investments. Liquor retail includes the sale of wines, beers and spirits through owned liquor stores. Cannabis retail includes the private sale of adult-use cannabis through owned and franchise retail cannabis stores. Cannabis operations include the cultivation, distribution and sale of cannabis for the adult-use and medical markets domestically and for export, and providing proprietary cannabis processing services, in addition to product development, manufacturing, and commercialization of cannabis consumer packaged goods. Investments include the deployment of capital to investment opportunities. Certain overhead expenses not directly attributable to any operating segment are reported as “Corporate”. Liquor Cannabis (1) Cannabis (2) Investments (3) Corporate Total As at December 31, 2023 Total assets 320,239 206,988 208,295 717,751 19,891 1,473,164 Year ended December 31, 2023 Net revenue (4) 578,895 289,980 87,071 — ( 46,940 ) 909,006 Gross profit 137,286 73,690 ( 20,561 ) — — 190,415 Operating income (loss) 24,630 4,919 ( 112,445 ) 11,746 ( 91,668 ) ( 162,818 ) Earnings (loss) before income tax 19,190 1,310 ( 112,159 ) 8,429 ( 88,786 ) ( 172,016 ) (1) Cannabis retail includes the operations of Superette for the period February 8, 2023 to December 31, 2023 (note 5(d) ). (2) Cannabis operations includes the operations of Valens for the period January 18, 2023 to December 31, 2023 (note 5(c) ). (3) Total assets include cash and cash equivalents. (4) The Company has eliminated $ 46.9 million of cannabis operations revenue and equal cost of sales associated with sales to provincial boards that are expected to be subsequently repurchased by the Company’s licensed retailer subsidiaries for resale, at which point the full retail sales revenue will be recognized. The elimination was recorded in the Corporate segment. Liquor (1) Cannabis (1) Cannabis (2) Investments (3) Corporate Total As at December 31, 2022 Total assets 351,338 200,393 163,130 825,151 19,338 1,559,350 Year ended December 31, 2022 Net revenue 462,180 205,610 44,407 — — 712,197 Gross profit 106,307 47,334 ( 13,266 ) — — 140,375 Operating income (loss) 20,619 ( 180,956 ) ( 29,372 ) ( 91,275 ) ( 66,790 ) ( 347,774 ) Earnings (loss) before income tax 17,726 ( 183,055 ) ( 29,618 ) ( 127,362 ) ( 57,461 ) ( 379,770 ) (1) Liquor retail includes operations of Alcanna retail stores for the period March 31, 2022 to December 31, 2022, and cannabis retail includes operations of Nova retail stores for the period March 31, 2022 to December 31, 2022 (note 5(a) ). (2) Cannabis operations includes the operations of Zenabis for the period November 1, 2022 to December 31, 2022 (note 5(b) ). (3) Total assets include cash and cash equivalents. Geographical disclosure As at December 31, 2023, the Company had non-current assets related to investment credit operations in the United States of $ 538.3 million (December 31, 2022 — $ 519.3 million ). For the year ended December 31, 2023, share of profit of equity-accounted investees related to investment credit operations in the United States was a gain of $ 6.8 million (year ended December 31, 2022 — loss of $ 43.0 million ). All other non-current assets relate to operations in Canada and revenues from external customers relate to operations in Canada.

Restricted Cash

Restricted Cash	12 Months Ended
	Dec. 31, 2023
Restricted Cash [Abstract]
Restricted Cash	8. Restricted cash As at December 31, 2023 December 31, 2022 Captive insurance 19,616 19,044 Other 275 294 19,891 19,338 The Company has secured insurance coverage for its directors and officers through two separate captive insurance structures (note 3).

Marketable Securities

Marketable Securities	12 Months Ended
	Dec. 31, 2023
Marketable Securities Disclosure [Abstract]
Marketable Securities	9. Marketable securities As at December 31, 2023 December 31, 2022 Balance, beginning of year 21,926 83,724 Acquisition (note 5(c)) 876 — Additions — 3,755 Dispositions ( 13,319 ) — Change in fair value recognized in profit or loss ( 9,258 ) ( 65,553 ) Balance, end of period 225 21,926 During the year ended December 31, 2023, proceeds o f $ 6.7 million ( year ended December 31, 2022 — nil ) were received for dispositions of marketable securities and a loss on disposition of $ 8.6 million ( year ended December 31, 2022 — nil ) was recognized.

Accounts Receivable

Accounts Receivable	12 Months Ended
	Dec. 31, 2023
Subclassifications of assets, liabilities and equities [abstract]
Accounts Receivable	10. Accounts receivable As at December 31, 2023 December 31, 2022 Trade receivables 23,422 17,558 Other receivables 3,637 5,078 27,059 22,636 The Company has calculated ECLs based on lifetime expected credit losses, taking into consideration historical credit loss experience and financial factors specific to the debtors and general economic conditions. Refer to note 34 for credit risk disclosures.

Biological Assets

Biological Assets	12 Months Ended
	Dec. 31, 2023
Disclosure of reconciliation of changes in biological assets [abstract]
Biological Assets	11. Biological assets The Company’s biological assets consist of cannabis plants in various stages of vegetation, including plants which have not been harvested. The change in carrying value of biological assets is as follows: As at December 31, 2023 December 31, 2022 Balance, beginning of year 3,477 4,410 Increase in biological assets due to capitalized costs 21,501 27,749 Acquisition — 909 Net change in fair value of biological assets ( 7,936 ) ( 1,309 ) Transferred to inventory upon harvest ( 16,613 ) ( 28,282 ) Balance, end of year 429 3,477 Biological assets are valued in accordance with IAS 41 and are presented at their fair value less costs to sell up to the point of harvest. This is determined using a model which estimates the expected harvest yield in grams for plants currently being cultivated, and then adjusts that amount for the expected selling price less costs to produce and sell per gram. The fair value measurements for biological assets have been categorized as Level 3 fair values based on the inputs to the valuation technique used. The Company’s method of accounting for biological assets attributes value accretion on a straight-line basis throughout the life of the biological asset from initial cloning to the point of harvest. The Company estimates the harvest yields for cannabis at various stages of growth. As at December 31, 2023, it is estimated that the Company’s biological assets will yield approximately 2,230 kilograms (December 31, 2022 — 3,904 kilograms) of dry cannabis when harvested. During the year ended December 31, 2023, the Company harvested 15,064 kilograms of dry cannabis (year ended December 31, 2022 — 19,854 kilograms).

Inventory

Inventory	12 Months Ended
	Dec. 31, 2023
Classes of current inventories [abstract]
Inventory	12. Inventory As at December 31, 2023 December 31, 2022 Retail liquor 83,923 82,589 Retail cannabis 19,516 13,373 Millwork — 276 Harvested cannabis Raw materials, packaging and components 7,781 4,577 Extracted cannabis & hemp oils 11,989 — Work-in-progress 995 19,927 Finished goods 4,856 7,040 129,060 127,782 During the year ended December 31, 2023, inventories of $ 689.3 million were recognized in cost of sales as an expense (year ended December 31, 2022 — $ 558.1 million ). During the year ended December 31, 2023, the Company recognized inventory write downs of $ 30.8 million (year ended December 31, 2022 — $ 8.9 million ), of which $ 30.6 million (year ended December 31, 2022 — $ 7.0 million ) was recognized as a provision for impaired and obsolete inventory, and $ 0.2 million (year ended December 31, 2022 — $ 1.9 million ) was included in the change in fair value realized through inventory as the fair value component of the provision for impaired and obsolete inventory.

Assets Held for Sale

Assets Held for Sale	12 Months Ended
	Dec. 31, 2023
Assets Held For Sale [Abstract]
Assets Held for Sale	13. Assets held for sale At December 31, 2023, and December 31, 2022, assets held for sale were measured at their fair value less costs to sell and comprised of the following: Stellarton facility 6,375 6,375 The Stellarton facility is located in Stellarton, Nova Scotia, and its primary purpose was the packaging and processing of value added and derivative products for the adult-use cannabis market. The Stellarton facility was acquired in the Zenabis acquisition (note 5(b)). During the year ended December 31, 2023 , the Company sold the Mission facility and recorded a gain on disposal of $ 0.1 million. The Mission facility was located in Mission, British Columbia, and its primary purpose was the cultivation of cannabis and the packaging of dried cannabis flower in consumer packaging. The Mission facility was acquired in the Valens Transaction (note 5(c) ).

Right Of Use Assets

Right Of Use Assets	12 Months Ended
	Dec. 31, 2023
Disclosure of quantitative information about right-of-use assets [abstract]
Right Of Use Assets	14. right of use assets Cost Balance at December 31, 2021 8,038 Acquisitions (note 5(a), note 5(b)) 140,781 Additions 6,103 Tenant inducement allowances ( 46 ) Dispositions and remeasurements 12,191 Balance at December 31, 2022 167,067 Acquisition (note 5(c), note 5(d)) 4,011 Additions 3,530 Renewals, remeasurements and dispositions 24,424 Balance at December 31, 2023 199,032 Accumulated depreciation and impairment Balance at December 31, 2021 1,321 Depreciation 25,227 Impairment 6,365 Balance at December 31, 2022 32,913 Depreciation 32,640 Impairment 3,852 Dispositions ( 52 ) Balance at December 31, 2023 69,353 Net book value Balance at December 31, 2022 134,154 Balance at December 31, 2023 129,679 During the year ended December 31, 2023, renewals, remeasurements and dispositions of $ 24.4 million mainly related to lease renewals. As at December 31, 2023 , the Company recorded impairment losses of right of use assets of $ 3.9 million (December 31, 2022 — $ 6.4 million) with $ 2.7 million (December 31, 2022 — $ 3.9 million) in the cannabis retail reporting segment and $ 1.2 million ( December 31, 2022 — $ 2.5 million) in the liquor retail reporting segment. Refer to note 15 for the significant assumptions applied in the impairment test.

Property, Plant and Equipment

Property, Plant and Equipment	12 Months Ended
	Dec. 31, 2023
Property, plant and equipment [abstract]
Property, Plant and Equipment	15. Property, plant and equipment Land Production facilities Leasehold improvements Equipment Construction Total Cost Balance at December 31, 2021 12,388 153,332 3,899 32,777 6,103 208,499 Acquisitions (note 5(a), note 5(b)) 130 4,528 64,059 44,263 2,369 115,349 Additions 57 256 3,465 5,907 982 10,667 Dispositions ( 611 ) ( 3,882 ) ( 609 ) ( 4,025 ) — ( 9,127 ) Balance at December 31, 2022 11,964 154,234 70,814 78,922 9,454 325,388 Acquisitions (note 5(c), note 5(d)) 8,661 24,330 3,660 17,518 — 54,169 Additions — — 2,739 5,609 102 8,450 Transfers from CIP — 882 — — ( 882 ) — Dispositions — 38 ( 314 ) ( 2,885 ) — ( 3,161 ) Balance at December 31, 2023 20,625 179,484 76,899 99,164 8,674 384,846 Accumulated depreciation and impairment Balance at December 31, 2021 — 131,867 411 13,928 5,821 152,027 Depreciation — 1,464 7,131 11,278 — 19,873 Impairment — — 7,794 7,415 — 15,209 Dispositions — ( 1,324 ) ( 610 ) ( 3,196 ) — ( 5,130 ) Balance at December 31, 2022 — 132,007 15,369 28,782 5,821 181,979 Depreciation — 2,526 11,675 15,796 — 29,997 Impairment — 10,825 1,697 8,924 — 21,446 Dispositions — 62 ( 293 ) ( 1,261 ) — ( 1,492 ) Balance at December 31, 2023 — 145,420 28,448 52,241 5,821 231,930 Net book value Balance at December 31, 2022 11,964 22,227 55,445 50,140 3,633 143,409 Balance at December 31, 2023 20,625 34,064 48,451 46,923 2,853 152,916 During the year ended December 31, 2023, depreciation expense of $ 4.7 million was capitalized to biological assets and inventory (year ended December 31, 2022 – $ 6.4 million ). During the year ended December 31, 2023, the Company determined that indicators of impairment existed relating to certain idle machinery and equipment. The estimated recoverable amount of the assets was determined to be nil and an impairment o f $ 3.0 million was recorded. The impairment was recognized in the Company’s cannabis operations reporting segment. In October 2023, management decided to close the Olds facility and consolidate all cultivation activities at its Atholville facility. This resulted in an indicator of impairment and a test for impairment was performed by comparing the estimated recoverable amount to the carrying value of the assets, using its fair value less costs of disposal. Based on the analysis, the Company recognized an impairment loss of $ 15.6 million, as the estimated recoverable amount of $ 18.7 million was lower than the respective carrying amount. The impairment was recognized in the cannabis operations reporting segment. The fair value measurement is categorized within Level 2 of the fair value hierarchy and the valuation technique was based on a market comparison for comparable assets. Subsequent to December 31, 2023, the Olds facility was classified as held for sale. During the year ended December 31, 2023, the Company determined that indicators of impairment existed relating to certain retail stores due to underperforming store level operating results. For impairment testing of retail property, plant and equipment and right of use assets, the Company determined that a CGU was defined as each individual retail store. The Company completed impairment tests for each CGU determined to have an indicator of potential impairment using a discounted cash flow model. The recoverable amounts for each CGU were based on the higher of its estimated value in use and fair value less costs of disposal using Level 3 inputs. The significant assumptions applied in the impairment test are described below: • Cash flows: Projected future sales and earnings for cash flows are based on actual operating results and operating budgets. Management determined forecasted growth rates of sales based on past performance, expectations of future performance for each location and industry averages. Expenditures were based upon a combination of historical percentages of revenue, sales growth rates, forecasted inflation rates and contractual lease payments. The duration of the cash flow projections for individual CGUs varies based on the remaining lease term of the CGU. • Discount rate: A pre-tax discount rate of 12.0 % was estimated and is based on market assessments of the time value of money and CGU specific risks. To determine a pre-tax discount rate, a weighted average cost of capital was used as a reference point which is based on market capital structure of debt, risk-free rate, equity risk premium, beta adjustment to the equity risk premium based on a review of betas of comparable publicly traded companies, the Company’s historical data, an unsystematic risk premium and after-tax cost of debt based on corporate bond yields. As at December 31, 2023, the Company recorded impairment losses of property, plant and equipment of $ 2.8 million (2022 – $ 12.8 million) ($ 1.7 million in leasehold improvements and $ 1.1 million in equipment) with $ 2.4 million (2022 – $ 5.3 million) in the cannabis retail reporting segment and $ 0.4 million (2022 – $ 7.5 million) in the liquor retail reporting segment. The Company also recorded impairment losses of right of use assets (note 14). During the year ended December 31, 2022, proceeds of $ 3.5 million were received for the disposition of the Company’s Merritt facility and a gain on disposal of $ 0.5 million was recognized. At December 31, 2021, the Merritt facility was classified as assets held for sale. During the year ended December 31, 2022, proceeds of $ 3.9 million were received for the disposition of the Company’s Rocky View facility and no gain on disposal was recognized. During the year ended December 31, 2022, the Company determined that indicators of impairment existed relating to idle machinery and equipment. The estimated recoverable amount of the assets was determined to be nil and an impairment of $ 2.4 million was recorded. The impairment was recognized in the Company’s cannabis operations reporting segment.

Net Investment In Subleases

Net Investment In Subleases	12 Months Ended
	Dec. 31, 2023
Disclosure Of Net Investment In Subleases [Abstract]
Disclosure of Net Investment in Subleases Explanatory	16. Net investment in subleases December 31, 2023 December 31, 2022 Balance, beginning of year 23,319 26,562 Additions 832 1,408 Finance income 857 833 Rents recovered (payments made directly to landlords) ( 4,004 ) ( 4,141 ) Dispositions and remeasurements 362 ( 1,343 ) Balance, end of year 21,366 23,319 Current portion 2,970 3,701 Long-term 18,396 19,618 Net investment in subleases represent leased retail stores that have been subleased to certain franchise partners. These subleases are classified as a finance lease as the sublease terms are for the remaining term of the head lease.

Intangible assets

Intangible assets	12 Months Ended
	Dec. 31, 2023
Disclosure of detailed information about intangible assets [abstract]
Intangible Assets	17. Intangible assets Brands and trademarks Franchise agreements Software Retail Total Cost Balance at December 31, 2021 41,445 10,000 — — 51,445 Acquisition (note 5(a)) 38,950 — 5,400 750 45,100 Additions 55 — 142 — 197 Dispositions ( 50 ) — — — ( 50 ) Balance at December 31, 2022 80,400 10,000 5,542 750 96,692 Acquisition (note 5(c)) 1,500 — — — 1,500 Additions — — 87 — 87 Dispositions — — ( 73 ) — ( 73 ) Balance at December 31, 2023 81,900 10,000 5,556 750 98,206 Accumulated amortization and impairment Balance at December 31, 2021 736 561 — — 1,297 Amortization 293 1,250 679 — 2,222 Impairment 18,288 — — — 18,288 Balance at December 31, 2022 19,317 1,811 679 — 21,807 Amortization 195 1,250 888 — 2,333 Impairment 935 — — — 935 Dispositions — — ( 18 ) — ( 18 ) Balance at December 31, 2023 20,447 3,061 1,549 — 25,057 Net book value Balance at December 31, 2022 61,083 8,189 4,863 750 74,885 Balance at December 31, 2023 61,453 6,939 4,007 750 73,149 Brands and trademarks are related to intellectual property purchased from Sun 8 Holdings Inc. (“Sun 8”) with a useful life of 15 years, intellectual property acquired through the acquisition of Inner Spirit consisting of proprietary rights to brands and trademarks with an indefinite useful life, and intellectual property acquired through the acquisition of Alcanna and Valens with indefinite useful lives. The brands and trademarks acquired from Inner Spirit, Alcanna and Valens were determined to have an indefinite useful life due to the fact that there is no foreseeable limit to the period over which the asset is expected to generate net cash inflows. Franchise agreements consist of intellectual property acquired through the acquisition of Inner Spirit consisting of franchise relationships with a useful life of 8 years. Software is comprised of licenses acquired through the acquisition of Alcanna and are amortized using the straight-line method over the life of the licence. Retail licenses acquired through the acquisition of Alcanna have an indefinite life and are therefore not amortized. The retail licenses do not expire, but rather are subject to an administrative extension process each year indefinitely. During the year ended December 31, 2023 , the Company determined that indicators of impairment existed regarding the Sun 8 intellectual property and the intellectual property and rights pertaining to certain other cannabis strains due to decreasing market demand. The estimated recoverable amount of the intangible assets was determined to be $ 1.5 million (2022 – $ 2.5 million) and nil , respectively, and an impairment of $ 0.8 million (2022 – $ 1.9 million) and $ 0.1 million was recorded in the cannabis operations reporting segment. At September 30, 2022, the Company recorded impairments to intangible assets with indefinite useful lives of $ 16.4 million due to changes in circumstances since the date of the Inner Spirit acquisition, mainly caused by the continued oversaturation of the cannabis retail market. At December 31, 2022, the Company tested intangible assets with indefinite useful lives and goodwill for impairment based on changes in circumstances since the date of the Alcanna and Nova acquisition, mainly caused by the continued oversaturation of the cannabis retail market. The Company concluded that there was no further impairments to intangible assets with indefinite useful lives.

Investments

Investments	12 Months Ended
	Dec. 31, 2023
Disclosure Of Investments [Abstract]
Investments	18. Investments As at December 31, 2023 December 31, 2022 Investments at amortized cost 24,405 24,493 Investments at FVTPL 8,655 72,761 33,060 97,254 Current portion 3,400 6,552 Long-term 29,660 90,702 Investments at amortized cost The Company has a loan outstanding to Indiva Limited (“Indiva”) with a principal balance of $ 19.8 million that had a maturity date of February 23, 2024 . On August 28, 2023, the Company amended the maturity date to February 24, 2026 . Investments at fvtpl Valens On August 22, 2022, in connection with the proposed Valens Transaction, the Company assumed Valens’ non-revolving term loan facility from its then-existing lender, and amended and restated the related credit agreement to provide for a $ 60.0 million non-revolving term loan facility with a maturity date of December 15, 2023 and an interest rate of 10 % per annum. On January 17, 2023, the Company announced that it had successfully closed the Valens Transaction. The $ 60.0 million non-revolving term loan formed part of the consideration (note 5(c)). As Valens is now a wholly-owned subsidiary of the Company, the non-revolving term loan became inter-company debt and was removed from investments at FVTPL. Superette On February 9, 2022, the Company closed an investment in a $ 5.0 million promissory note with a maturity date of February 9, 2025 , and an interest rate of 15 % per annum. On August 26, 2022, November 22, 2022 and December 31, 2022, the Company entered into an amended and restated promissory note whereby the Company would advance additional funds up to $ 8.1 million as part of pre-CCAA advances and debtor-in-possession advances and the maturity date was amended such that the full balance of the promissory note plus accrued interest and advances became due August 30, 2022. On August 31, 2022, the Company announced that, in the context of the initial order obtained by Superette Inc., Superette Ontario Inc. and certain of its subsidiaries (collectively, “Superette”) from the Ontario Superior Court of Justice on August 30, 2022 pursuant to the CCAA proceedings, it had entered into an agreement of purchase and sale with Superette, pursuant to which it proposed to acquire substantially all of the business and assets of Superette. As at December 31, 2022, the Company had advanced an additional $ 1.8 million under the amended and restated promissory note. The Company adjusted the fair value of the promissory note downward by $ 3.7 million during the year ended December 31, 2022 to management’s best estimate of the recoverable value of the collateral underlying the security of the promissory note. During January and February 2023 the Company advanced an additional $ 0.9 million under the amended and restated promissory note. On February 7, 2023, the Company announced that it had successfully closed the Superette Transaction (note 5(d) ). The Company adjusted the fair value of the Superette promissory note downward by an additional $ 1.7 million (note 31 ) to management’s best estimate of the fair value of the Superette promissory note at February 7, 2023. The Superette promissory note was extinguished immediately preceding the business combination and forms the consideration transferred.

Equity-Accounted Investees

Equity-Accounted Investees	12 Months Ended
	Dec. 31, 2023
Disclosure Of Interests In Other Entities [Abstract]
Equity-Accounted Investees	19. Equity-accounted investees As at December 31, 2023 December 31, 2022 Interest in joint venture 538,331 519,255 A) Interest in joint venture SunStream is a joint venture in which the Company has a 50 % ownership interest. SunStream is a private company, incorporated under the Business Corporations Act (Alberta), which provides growth capital that pursues indirect investment and financial services opportunities in the cannabis sector, as well as other investment opportunities. SunStream is structured as a separate vehicle and the Company has a residual interest in the net assets of SunStream. Accordingly, the Company has classified its interest in SunStream as a joint venture, which is accounted for using the equity-method. The current investment portfolio of SunStream is comprised of secured debt, hybrid debt and derivative instruments with United States based cannabis businesses. These investments are recorded at fair value each reporting period with any changes in fair value recorded through profit or loss. SunStream actively monitors these investments for changes in credit risk, market risk and other risks specific to each investment. As at December 31, 2023 , the Company had fully funded the $ 538.0 million it had originally committed to SunStream . The following table summarizes the carrying amount of the Company’s interest in the joint venture: Carrying amount Balance at December 31, 2021 412,858 Capital contributions 119,137 Share of net loss ( 43,002 ) Share of other comprehensive income 31,923 Distributions ( 1,661 ) Balance at December 31, 2022 519,255 Capital contributions 25,089 Share of net earnings 6,758 Share of other comprehensive income (loss) ( 12,771 ) Balance at December 31, 2023 538,331 SunStream is a related party due to it being classified as a joint venture of the Company. Capital contributions to the joint venture and distributions received from the joint venture are classified as related party transactions. The following table summarizes the financial information of SunStream: As at December 31, 2023 December 31, 2022 Current assets (including cash and cash equivalents - 2023: $ 0.3 million, 2022: $ 1.5 million) 2,675 5,437 Non-current assets 532,740 509,418 Current liabilities ( 1,096 ) ( 1,146 ) Net assets (liabilities) ( 100 %) 534,319 513,709 Year ended December 31 2023 2022 Revenue (loss) 14,098 ( 35,046 ) Profit (loss) from operations 7,348 ( 42,627 ) Other comprehensive income (loss) ( 12,771 ) 31,923 Total comprehensive income (loss) ( 5,177 ) ( 10,619 ) B) Interest in associate The Company holds a 25 % equity interest in its associate Pathway RX Inc. (“Pathway”). Pathway is a private company focused on developing cannabis-based pharmaceutical drugs to treat symptoms associated with a range of medical cannabis. The carrying amount of the Company’s interest in Pathway is nil.

Goodwill

Goodwill	12 Months Ended
	Dec. 31, 2023
Goodwill [Abstact]
Goodwill	20. Goodwill Net book value Balance at December 31, 2021 72,496 Acquisitions through business combinations (note 5(a)) 150,935 Impairment ( 156,171 ) Balance at December 31, 2022 67,260 Acquisitions through business combinations (note 5(c)) 81,022 Impairment ( 29,000 ) Balance at December 31, 2023 119,282 impairment test The Company considers its CGUs based on the interdependence of cash flows between different segments of the business, lowest level of cash flows within each segment and how management monitors operations. As such, the CGUs are defined as Liquor retail, Cannabis retail, Cannabis retail franchise group, Cannabis operations – Valens and Cannabis operations - Atholville. For the purpose of impairment testing, goodwill has been allocated as follows: December 31, 2023 December 31, 2022 Liquor retail 24,338 24,338 Cannabis retail 38,624 38,624 Cannabis retail franchise group 4,298 4,298 Cannabis operations - Valens 52,022 — 119,282 67,260 For the purpose of impairment testing at December 31, 2023, intangible assets with indefinite lives were allocated to the Company’s CGUs as follows: (i) $ 2.7 million to the cannabis retail CGU, (ii) $ 18.3 million to the cannabis retail franchise group CGU, (iii) $ 38.3 million to the liquor retail CGU and (iv) $ 1.5 million to the cannabis operations – Valens CGU. On December 31, 2023 and December 31, 2022, the Company performed its annual goodwill impairment test in accordance with its policy described in note 3. The impairment test for the Company’s cannabis retail, cannabis retail franchise group and cannabis operations – Valens CGUs used a fair value less costs of disposal model. The key assumptions used to calculate the fair value less costs of disposal are market revenue and EBITDA multiples (where applicable) which are considered Level 2 fair value assumptions as well as revenue and EBITDA one year forecasts which are considered to be Level 3 fair value assumptions. The impairment test for the Company’s liquor retail CGU used a value in use approach based on internal cash flow estimates at December 31, 2023, and a discount rate of 12.5 %. The discount rate was estimated based on the Company’s weighted average cost of capital, adjusted for risks specific to the CGU. The estimated cash flows were based on a 5-year model taking into account the overall forecasted Canadian liquor and spirits industry market growth projections. A terminal value thereafter was applied. Based on the analysis, there was an impairment of the Company’s cannabis operations – Valens CGU of $ 29.0 million as at December 31, 2023 as the estimated recoverable amount for this CGU of $ 124.1 million was lower than the respective carrying amount. The impairment loss was fully allocated to goodwill and included in asset impairment. The impairment was recognized in the Company’s cannabis operations reportable segment. The Company concluded that the recoverable amount of the remaining CGUs exceeded their carrying amounts and, therefore, goodwill was not impaired. For the purpose of impairment testing at December 31, 2022, intangible assets with indefinite lives were allocated to the Company’s CGUs as follows: (i) $ 2.7 million to the cannabis retail CGU, (ii) $ 18.3 million to the cannabis retail franchise group CGU and (iii) $ 43.1 million to the liquor retail CGU. The impairment test for the Company’s cannabis retail CGU used its fair value less costs of disposal and the fair value measurement was categorized as a Level 1 fair value based on the inputs in the valuation technique used. The impairment test for the Company’s cannabis franchise and liquor retail CGUs used a value in use approach based on internal cash flow estimates at December 31, 2022, and a discount rate of 12.0 %. The discount rate was estimated based on the Company’s weighted average cost of capital, adjusted for risks specific to the CGUs. The estimated cash flows were based on a 5-year model taking into account the overall forecasted Canadian cannabis and liquor industry market sizes and the Company’s forecasted market share. A terminal value thereafter was applied. Based on the analysis, there was an impairment of the Company’s retail cannabis CGU of $ 88.0 million as at December 31, 2022 as the estimated recoverable amount for this CGU of $ 84.8 million was lower than the respective carrying amount. The impairment loss was fully allocated to goodwill and included in asset impairment. The impairment was recognized in the Company’s cannabis retail reportable segment. The Company concluded that the recoverable amount of the remaining CGUs exceeded their carrying amounts and, therefore, goodwill was not impaired.

Accounts Payable and Accrued Li

Accounts Payable and Accrued Liabilities	12 Months Ended
	Dec. 31, 2023
Subclassifications of assets, liabilities and equities [abstract]
Accounts Payable and Accrued Liabilities	21. Accounts payable and accrued liabilities December 31, 2023 December 31, 2022 Trade payables 22,035 9,774 Accrued and other liabilities 46,175 38,379 68,210 48,153

Derivative Warrants

Derivative Warrants	12 Months Ended
	Dec. 31, 2023
Derivative Warrant Liabilities [Abstract]
Derivative Warrants	22. Derivative warrants December 31, 2023 December 31, 2022 Balance, beginning of year 11,002 21,700 Change in fair value recognized in profit or loss ( 6,602 ) ( 10,783 ) Acquisition — 85 Balance, end of year 4,400 11,002 The carrying amount is an estimate of the fair value of the derivative warrants and is presented as a current liability. The derivative warrants are classified as a liability due to the Company’s share price being denominated in U.S. dollars, which creates variability as to the value in Canadian dollars when they are exercised. The derivative warrants are recorded as a current liability, however, the Company has no cash obligation nor is there any cash loss with respect to the derivative warrants, rather it will deliver common shares if and when warrants are exercised. The 118,067 remaining December 2018 performance warrants that were acquired in the Alcanna Transaction expired on December 18, 2023 . The following table summarizes outstanding derivative warrants as at December 31, 2023: Exercise price (US$) Number of warrants Weighted average contractual life 2020 Series A Warrants (1) 1.77 50,000 1.6 Unsecured Convertible Notes Warrants (1) 1.77 50,000 0.0 New Warrants (2) 2.29 9,833,333 0.6 9,933,333 0.6 (1) The conversion or exercise price, as applicable, is subject to full ratchet antidilution protection upon any subsequent transaction at a price lower than the price then in effect and standard adjustments in the event of any share split, share dividend, share combination, recapitalization or other similar transaction. If the Company issues, sells or enters into any agreement to issue or sell, any variable rate securities, the investors have the additional right to substitute the variable price (or formula) of such securities for the conversion or exercise price, as applicable. (2) The exercise price of the New Warrants was adjusted from US$ 15.00 to US$ 2.29 based on the July 26, 2022 Share Consolidation (as defined below) representing a share combination event (note 26(a) ).

Lease Liabilities

Lease Liabilities	12 Months Ended
	Dec. 31, 2023
Lease liabilities [abstract]
Lease Liabilities	23. Lease LIABILITIES December 31, 2023 December 31, 2022 Balance, beginning of year 169,831 33,470 Acquisitions (note 5) 4,336 142,106 Additions 4,362 7,497 Lease payments ( 45,017 ) ( 31,834 ) Renewals, remeasurements and dispositions 25,505 10,890 Tenant inducement allowances received 91 1,799 Accretion expense 7,921 5,903 Balance, end of year 167,029 169,831 Current portion 30,537 30,206 Long-term 136,492 139,625 During the year ended December 31, 2023, renewals, remeasurements and dispositions of $ 25.5 million mainly related to lease renewals. The following table presents the contractual undiscounted cash flows, excluding periods covered by lessee lease extension options that have been included in the determination of the lease term, related to the Company’s lease liabilities as at December 31, 2023: December 31, 2023 Less than one year 41,743 One to three years 69,660 Three to five years 51,372 Thereafter 35,719 Minimum lease payments 198,494 The Company has short-term leases with lease terms of 12 months or less as well as low-value leases. As these costs are incurred, they are recognized as general and administrative expense. These costs were immaterial in 2023 and 2022.

Other Liabilities

Other Liabilities	12 Months Ended
	Dec. 31, 2023
Disclosure Of Other Liabilities [Abstract]
Other Liabilities	24. Other liabilities December 31, 2023 December 31, 2022 Financial guarantee liability (A) 268 407 Deferred share units liability (B) 3,917 2,302 4,185 2,709 A) Financial guarantee liability For franchise operated locations where the Company provided an indemnity for its franchisees, lease payments are made directly to the landlord by the franchisee, and the obligation to make lease payments would only revert to the Company if a franchisee defaulted on their obligations under the terms of the sub-lease or lease. The Company has made an estimate of ECLs in the event of default by the franchisees in making lease payments. This amount is recognized as a financial guarantee liability in the consolidated statement of financial position, and changes in the estimated liability are recognized as a financial guarantee liability expense within finance costs (note 31) in the consolidated statement of loss and comprehensive loss. B) DSU liability DSUs are granted to directors and generally vest in equal instalments over one year. DSUs are settled by making a cash payment to the holder, equal to the fair value of the Company’s common shares calculated at the date of such payment, when a director leaves the Board. DSUs are accounted for as a liability instrument and measured at fair value based on the market value of the Company’s common shares at each period end. Changes in the fair value are recognized within share-based compensation expense (note 27(d) ).

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2023
Major components of tax expense (income) [abstract]
Income Taxes	25. Income taxes The following table reconciles the expected income tax expense (recovery) at the Canadian federal and provincial statutory income tax rates to the amounts recognized in profit and loss for the years ended December 31, 2023 and December 31, 2022: December 31, 2023 December 31, 2022 Loss before taxes ( 172,016 ) ( 379,770 ) Statutory income tax rates 23.0 % 23.0 % Expected income tax recovery ( 39,564 ) ( 87,347 ) Non-deductible share-based compensation 4,954 2,508 Revaluation of the fair value of warrant liabilities — ( 2,461 ) Non-controlling interest 1,118 8,167 Non-deductible portion of capital losses 1,107 7,458 Other ( 2,937 ) 5,409 Goodwill impairment — 35,919 Deferred tax benefits not recognized 35,322 23,005 Income tax (recovery) expense — ( 7,342 ) Details of the deferred tax assets (liabilities) are as follows: December 31, 2023 December 31, 2022 Deferred tax assets (liabilities): Property, plant and equipment ( 4,148 ) — Inventory 29,835 23,329 Biological assets ( 8,093 ) ( 9,451 ) Net investment in subleases ( 4,914 ) ( 5,363 ) Intangible assets ( 16,230 ) ( 16,632 ) Lease liabilities 465 ( 5,488 ) Marketable securities 3,159 14,981 Fair value of derivatives ( 83 ) — Equity-accounted investee 9 ( 1,376 ) Net deferred tax asset (liability) — — Deferred tax assets have not been recognized for the following deductible temporary differences: December 31, 2023 December 31, 2022 Unrecognized deductible temporary differences: Property, plant and equipment — 7,413 Intangible assets 183 183 Share issue costs 24,691 28,926 Investments 18,748 18,239 Lease liabilities 165,252 193,691 Financial obligations and other 3,917 2,300 Non-capital losses & scientific research and experimental development 986,422 490,326 Unrecognized deductible temporary differences 1,199,213 741,078 The movement in deferred income tax liability is as follows: December 31, 2023 December 31, 2022 Balance, beginning of year — — Recognized in profit and loss — ( 7,342 ) Recognized in other comprehensive income — 7,342 Balance, end of year — — The Company has $ 985.0 million (December 31, 2022 - $ 490.3 million) of non-capital losses available for future periods that will expire prior to 2035-2043.

Share Capital and Warrants

Share Capital and Warrants	12 Months Ended
	Dec. 31, 2023
Share Capital And Warrants [Abstract]
Share Capital and Warrants	26. Share capital and warrants A) Authorized The authorized capital of the Company consists of an unlimited number of voting common shares and preferred shares with no par value. On July 26, 2022, the Board approved a 1 to 10 share consolidation of the Company’s issued and outstanding common shares (the “Share Consolidation”). Each shareholder of record of the Company as of the close of business on the record date of July 25, 2022, received 1 common share for each 10 shares held on such date. All references to common shares, warrants, derivative warrant liabilities, simple warrants, performance warrants, stock options, RSUs and DSUs (excluding the Nova RSUs and DSUs) have been fully retrospectively adjusted to reflect the Share Consolidation. B) Issued and outstanding December 31, 2023 December 31, 2022 Note Number of Carrying Number of Carrying Balance, beginning of year 235,194,236 2,292,810 206,040,836 2,035,704 Share issuances 931,740 1,900 370,179 2,870 Share repurchases ( 546,700 ) ( 5,344 ) ( 4,252,489 ) ( 41,617 ) Acquisitions 5 27,605,782 83,953 32,060,135 287,129 Shares acquired and cancelled ( 2,261,778 ) ( 6,879 ) — — Employee awards exercised 1,852,573 9,510 975,575 8,724 Balance, end of year 262,775,853 2,375,950 235,194,236 2,292,810 (1) Included in employee awards exercised are 50,000 RSUs that vested and were exercised in December 2021; however, the common shares were not issued until January 2022. For the year ended December 31, 2023, th e Company purchased and cancelled 0.5 million common shares at a weighted average price of $ 2.78 (US$ 2.04 ) per common share for a total cost of $ 1.5 million. Accumulated deficit was reduced by $ 3.8 million, representing the excess of the average carrying value of the common shares over their purchase price. For the year ended December 31, 2022, the Company purchased and cancelled 4.3 million c ommon shares at a weighted average price of $ 3.12 (US$ 2.33 ) per common share for a total cost of $ 13.3 million. Accumulated deficit was reduced by $ 28.3 million, representing the excess of the average carrying value of the common shares over their purchase price. In connection with the Valens Transaction (note 5(c) ), the Company received and cancelled 2.2 million of its own common shares valued at $ 6.6 million based on the fair value on the closing date. At the time of the acquisition, the Company owned 6.5 million Valens common shares which were classified as marketable securities. In accordance with the Valens Transaction consideration, the Company received 2.2 million common shares ( 0.3334 of a SNDL common share for each Valens common share). (C) Common share purchase warrants Number of Warrants Carrying Amount Balance at December 31, 2021 356,612 8,092 Warrants expired ( 48,000 ) ( 5,832 ) Balance at December 31, 2022 308,612 2,260 Balance at December 31, 2023 308,612 2,260 During the year ended December 31, 2022, the warrants issued in relation to the acquisition of a financial obligation expired. The financial obligation related to an agreement from 2018 with a company controlled by the Company’s former executive chairman whereby equity financing was provided to the Company in exchange for quarterly royalty payments based on a prescribed formula derived from revenue. In 2019, the company that held the financial obligation was acquired by the Company for consideration that included the warrants, and the financial obligation was terminated. The following table summarizes outstanding warrants as at December 31, 2023: Warrants outstanding and exercisable Issued in relation to Weighted average exercise price Number of warrants Weighted average Financial services 45.98 54,400 5.6 Acquired from Inner Spirit (1) 3.37 190,212 0.2 Sun 8 9.40 64,000 2.0 $ 12.13 308,612 1.5 (1) Inner Spirit warrants are exchangeable for 0.00835 SNDL common shares in accordance with the Inner Spirit transaction consideration and have been presented based on the number of SNDL common shares that are issuable.

Share-based Compensation

Share-based Compensation	12 Months Ended
	Dec. 31, 2023
Disclosure of terms and conditions of share-based payment arrangement [abstract]
Share-based Compensation	27. Share-based compensation The Company has a number of share-based compensation plans which include simple and performance warrants, stock options, RSUs and DSUs. Subsequent to the Company’s initial public offering, the Company established the stock option, RSU and DSU plans to replace the granting of simple warrants and performance warrants. The components of share-based compensation expense are as follows: Year ended 2023 2022 Equity-settled expense Simple warrants (A) ( 332 ) 1,299 Stock options (B) ( 1 ) 78 Restricted share units (1) (C) 13,350 9,423 Cash-settled expense Deferred share units (1)(2) (D) 2,383 ( 1,129 ) 15,400 9,671 (1) For the year ended December 31, 2023, the Company recognized share-based compensation expense under Nova’s RSU plan of $ 34 (2022 — recovery of $ 107 ) and share-based compensation expense under Nova’s DSU plan of $ 768 (2022 — $ 404 ) . (2) Cash-settled DSUs are accounted for as a liability and are measured at fair value based on the market value of the Company’s common shares at each reporting period. Fluctuations in the fair value are recognized during the period in which they occur. Equity-settled plans A) Simple and performance warrants The Company issued simple warrants and performance warrants to employees, directors and others at the discretion of the Board. Simple and performance warrants granted generally vest annually over a three-year period, simple warrants expire five years after the grant date and performance warrants expire five years after vesting criteria are met. The following table summarizes changes in the simple and performance warrants during the year ended December 31, 2023 and the year ended December 31, 2022: Simple Weighted Performance Weighted Balance at December 31, 2021 259,420 $ 48.60 138,720 $ 41.77 Forfeited ( 82,400 ) 57.77 ( 15,520 ) 37.86 Expired ( 11,200 ) 6.25 — 0.00 Balance at December 31, 2022 165,820 $ 46.91 123,200 $ 42.26 Forfeited ( 74,640 ) 63.86 ( 52,800 ) 54.55 Expired ( 24,480 ) 14.68 ( 16,000 ) 14.07 Balance at December 31, 2023 66,700 $ 39.77 54,400 $ 38.62 The following table summarizes outstanding simple and performance warrants as at December 31, 2023: Warrants outstanding Warrants exercisable Range of exercise prices Number of Weighted Weighted Number of Weighted Weighted Simple warrants $6.25 - $9.38 36,300 7.63 0.86 36,300 7.63 0.86 $29.69 - $45.31 7,200 34.90 1.82 7,200 34.90 1.82 $62.50 - $93.75 17,280 64.81 2.98 17,280 64.81 2.98 $125.00 - $312.50 5,920 169.62 3.92 4,640 156.07 3.61 66,700 $ 39.77 1.79 65,420 $ 36.26 1.72 Performance warrants $6.25 - $9.38 19,200 6.25 1.19 19,200 6.25 1.19 $29.69 - $45.31 23,200 32.60 1.27 23,200 32.60 1.27 $62.50 - $93.75 9,334 77.68 n/a 1,334 93.75 2.16 $125.00 - $218.75 2,666 187.50 n/a — — n/a 54,400 $ 38.62 n/a 43,734 $ 22.90 1.26 B) Stock options The Company issues stock options to employees and others at the discretion of the Board. Stock options granted generally vest annually in thirds over a three-year period and generally expire ten years after the grant date. The following table summarizes changes in stock options during the year ended December 31, 2023 and the year ended December 31, 2022: Stock options outstanding Weighted Balance at December 31, 2021 44,460 $ 13.28 Expired ( 100 ) 31.50 Balance at December 31, 2022 44,360 $ 13.24 Acquired (note 5(c)) 1,317,837 17.63 Forfeited ( 424,027 ) 17.21 Expired ( 84,465 ) 14.44 Balance at December 31, 2023 853,705 $ 17.92 The following table summarizes outstanding stock options as at December 31, 2023: Stock options outstanding Stock options exercisable Exercise prices Number of Weighted Number of Weighted $11.50 10,000 6.41 10,000 6.41 $11.90 8,160 6.49 8,160 6.49 $31.50 3,000 4.73 2,700 4.65 $11.79 - $38.88 (Legacy Valens) 832,545 2.36 832,545 2.36 853,705 2.46 853,405 2.45 C) Restricted share units RSUs are granted to employees and the vesting requirements and maximum term are at the discretion of the Board. RSUs are exchangeable for an equal number of common shares. The following table summarizes changes in RSUs during the year ended December 31, 2023 and the year ended December 31, 2022: RSUs Balance at December 31, 2021 753,593 Granted 1,728,557 Forfeited ( 175,245 ) Exercised ( 925,575 ) Balance at December 31, 2022 1,381,330 Granted 10,259,228 Forfeited ( 1,158,279 ) Exercised ( 1,852,573 ) Balance at December 31, 2023 8,629,706 Cash-settled plans D) Deferred share units DSUs are granted to directors and generally vest in equal instalments over one year . DSUs are settled by making a cash payment to the holder equal to the fair value of the Company’s common shares calculated at the date of such payment. DSUs are accounted for as a liability instrument and measured at fair value based on the market value of the Company’s common shares at each period end. As at December 31, 2023, the Company recognized a liability of $ 3.9 million relating to the fair value of cash-settled DSUs (December 31, 2022 – $ 2.3 million). The liability is included as a non-current liability within other liabilities (note 24). The following table summarizes changes in DSUs during the year ended December 31, 2023 and the year ended December 31, 2022: DSUs Balance at December 31, 2021 551,250 Granted 1,216,076 Exercised ( 58,943 ) Balance at December 31, 2022 1,708,383 Granted 689,950 Balance at December 31, 2023 2,398,333 As at December 31, 2023, 1.5 million D SUs were vested but none were exercisable. As at December 31, 2022 , 0.8 million were vested but none were exercisable. DSUs can only be exercised once a director ceases to be on the board.

Gross Revenue

Gross Revenue	12 Months Ended
	Dec. 31, 2023
Revenue [abstract]
Gross Revenue	28. Gross revenue Liquor retail revenue is derived from the sale of wines, beers and spirits to customers. Cannabis retail revenue is derived from retail cannabis sales to customers, franchise revenue consisting of royalty and franchise fee revenue, and other revenue consisting of millwork, supply and accessories revenue and proprietary licensing. Cannabis operations revenue is derived from contracts with customers and is comprised of sales to provincial boards that sell cannabis through their respective distribution models, sales to licensed producers for further processing, provision of proprietary cannabis processing services, product development, manufacturing and commercialization of cannabis consumer products and sales to medical customers. Year ended 2023 2022 Liquor retail revenue 578,895 462,180 Cannabis retail revenue Retail 270,454 192,710 Franchise 7,100 8,337 Other 12,426 4,563 Cannabis retail revenue 289,980 205,610 Cannabis operations revenue Provincial boards 71,894 58,728 Medical 24 9 Wholesale 15,682 3,167 Analytical testing 1,250 — Cannabis operations revenue 88,850 61,904 Gross revenue 957,725 729,694 The Company has recognized the following receivables from contracts with customers: December 31, 2023 December 31, 2022 Receivables, included in 'trade receivables' (note 10) 23,422 17,558 Receivables from contracts with customers are typically settled within 30 days. As at December 31, 2023, an impairment of $ 10.4 million (December 31, 2022 – $ 0.6 million) has been recognized on receivables from contracts with customers (note 34 ).

Investment Revenue (Loss)

Investment Revenue (Loss)	12 Months Ended
	Dec. 31, 2023
Investment Revenue (Loss) [Abstract]
Investment Revenue (Loss)	29. Investment revenue (Loss) Year ended 2023 2022 Interest and fee revenue Interest revenue from investments at amortized cost 3,781 3,660 Interest and fee revenue from investments at FVTPL 1,374 6,036 Interest revenue from cash 9,362 7,043 14,517 16,739 Year ended 2023 2022 Investment loss ( 9,258 ) ( 65,164 )

Other Operating Expenses

Other Operating Expenses	12 Months Ended
	Dec. 31, 2023
Expenses by nature [abstract]
Other Operating Expenses	30. Other operating expenses A) General and administrative Year ended 2023 2022 Salaries and wages 114,684 80,134 Consulting fees 4,320 1,934 Office and general 51,191 37,061 Professional fees 14,620 11,563 Merchant processing fees 6,332 4,748 Director fees 550 472 Other 8,028 4,256 199,725 140,168 B) Sales and marketing Year ended 2023 2022 Marketing 13,599 7,308 Events 114 102 Media 1,332 1,007 15,045 8,417 C) Restructuring costs Restructuring costs of $ 19.6 million for the year ended December 31, 2023 relate to severance costs from workforce reductions, legal costs that relate directly to the restructuring and other costs related to the closure of the Olds facility.

Finance Costs

Finance Costs	12 Months Ended
	Dec. 31, 2023
Disclosure Of Finance Cost [Abstract]
Finance Costs	31. Finance costs Year ended 2023 2022 Cash finance expense Other finance costs 81 178 81 178 Non-cash finance expense (income) Change in fair value of investments at FVTPL 3,317 36,087 Accretion on lease liabilities 7,921 5,903 Financial guarantee liability recovery ( 139 ) ( 59 ) Other 1,039 89 12,138 42,020 Interest income ( 857 ) ( 884 ) 11,362 41,314

Supplemental Cash Flow Disclosu

Supplemental Cash Flow Disclosures	12 Months Ended
	Dec. 31, 2023
Supplemental Cash Flow Disclosure [Abstract]
Supplemental Cash Flow Disclosures	32. Supplemental cash flow disclosures Year ended 2023 2022 Cash provided by (used in): Accounts receivable 15,096 ( 5,815 ) Biological assets ( 4,888 ) 533 Inventory ( 17,411 ) 4,243 Prepaid expenses and deposits ( 3,515 ) 5,782 Assets held for sale 2,081 — Investments 692 918 Right of use assets ( 3,450 ) ( 17,510 ) Property, plant and equipment ( 97 ) 38 Accounts payable and accrued liabilities ( 20,809 ) ( 27,864 ) Lease liabilities 3,496 19,296 ( 28,805 ) ( 20,379 ) Changes in non-cash working capital relating to: Operating ( 32,875 ) ( 22,073 ) Investing 4,028 74 Financing 42 1,620 ( 28,805 ) ( 20,379 )

Loss Per Share

Loss Per Share	12 Months Ended
	Dec. 31, 2023
Earnings per share [abstract]
Loss Per Share	33. Loss per share Year ended 2023 2022 Weighted average shares outstanding (000s) Basic and diluted (1) 259,371 229,871 Continuing operations Net loss attributable to owners of the Company ( 168,125 ) ( 335,114 ) Per share - basic and diluted $ ( 0.65 ) $ ( 1.46 ) Discontinued operations Net loss attributable to owners of the Company ( 4,535 ) — Per share - basic and diluted $ ( 0.02 ) $ — Net loss attributable to owners of the Company ( 172,660 ) ( 335,114 ) Per share - basic and diluted $ ( 0.67 ) $ ( 1.46 ) (1) For the year ended December 31, 2023, there were 0.3 million equity classified warrants, 9.9 million derivative warrants, 0.1 million simple warrants, 0.1 million performance warrants, 0.9 million stock options and 8.6 million RSUs that were excluded from the calculation as the impact was anti-dilutive (year ended December 31, 2022 – 0.3 million equity classified warrants, 10.1 million derivative warrants, 0.2 million simple warrants, 0.1 million performance warrants, 0.04 million stock options and 1.4 million RSUs).

Financial Instruments

Financial Instruments	12 Months Ended
	Dec. 31, 2023
Disclosure of detailed information about financial instruments [abstract]
Financial Instruments	34. Financial instruments The financial instruments recognized on the consolidated statement of financial position are comprised of cash and cash equivalents, restricted cash, marketable securities, accounts receivable, investments at amortized cost, investments at FVTPL, accounts payable and accrued liabilities and derivative warrants. A) Fair value The carrying value of cash and cash equivalents, restricted cash, accounts receivable and accounts payable and accrued liabilities approximate their fair value due to the short-term nature of the instruments. The carrying value of investments at amortized cost approximate their fair value as the fixed interest rates approximate market rates for comparable transactions. Fair value measurements of marketable securities, investments at FVTPL and derivative warrants are as follows: Fair value measurements using December 31, 2023 Carrying Level 1 Level 2 Level 3 Recurring measurements: Financial assets Marketable securities 225 225 — — Investments at FVTPL 8,655 — — 8,655 Financial liabilities Derivative warrants (1) 4,400 — — 4,400 Fair value measurements using December 31, 2022 Carrying Level 1 Level 2 Level 3 Recurring measurements: Financial assets Marketable securities 21,926 21,926 — — Investments at FVTPL 72,761 — — 72,761 Financial liabilities Derivative warrants (1) 11,002 — — 11,002 (1) The carrying amount is an estimate of the fair value of the derivative warrants and is presented as a current liability. The Company has no cash obligation with respect to the derivative warrants, rather it will deliver common shares if and when warrants are exercised. Level 1 – unadjusted quoted prices in active markets for identical assets or liabilities. An active market for an asset or liability is a market in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis. Marketable securities are designated as FVTPL. The fair value of marketable securities is re-measured each reporting period with changes in fair value recognized in profit and loss. The fair value of marketable securities is estimated by using current quoted prices in active markets for identical assets. Level 2 – quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. As at December 31, 2023, the Company did not have any financial instruments measured at Level 2 fair value. Level 3 – unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Investments designated as FVTPL are re-measured each reporting period with changes in the fair value recognized in profit and loss within finance costs. The fair values of the investments were estimated by using a discounted cash flow analysis. The main assumptions used in the calculation were the determination of a credit-adjusted discount rate. Derivative warrants are designated as FVTPL. The fair value of derivative warrants is re-measured each reporting period with changes in fair value recognized in profit and loss within finance costs. The fair value of derivative warrants is estimated by using a valuation model. Assumptions used in these calculations include volatility, discount rate and various probability factors. At December 31, 2023 , a 10 % change in the material assumptions would change the estimated fair value of derivative warrant liabilities by approximat ely $ 0.7 million. There were no transfers between Levels 1, 2 and 3 inputs during the year. B) Credit risk management Credit risk is the risk of financial loss if the counterparty to a financial transaction fails to meet its obligations. The Company manages risk over its accounts receivable by issuing credit only to credit worthy counterparties. The Company limits its exposure to credit risk over its investments by ensuring the agreements governing the investments are secured in the event of counterparty default. The Company considers financial instruments to have low credit risk when its credit risk rating is equivalent to investment grade. The Company assumes that the credit risk on a financial asset has increased significantly if it is outstanding past the contractual payment terms. The Company considers a financial asset to be in default when the debtor is unlikely to pay its credit obligations to the Company. The Company applies the simplified approach under IFRS 9 to accounts receivable and has calculated ECLs based on lifetime expected credit losses, taking into consideration historical credit loss experience and financial factors specific to the debtors and general economic conditions. Impairment losses on accounts receivable recognized in profit or loss were as follows: As at December 31, 2023 December 31, 2022 Impairment loss on trade receivables 10,383 642 Impairment loss (reversal) on other receivables ( 31 ) 674 10,352 1,316 The movement in the allowance for impairment in respect of accounts receivable during the year ended December 31, 2023 was as follows: December 31, 2023 December 31, 2022 Balance, beginning of year 2,448 1,132 Net remeasurement of impairment loss allowance 10,352 1,316 Balance, end of year 12,800 2,448 The Company applies the general approach under IFRS 9 to investments, which is an assessment of whether the credit risk of a financial instrument has increased significantly since initial recognition. The general approach compares the risk of a default occurring at the reporting date with the risk of a default occurring at the date of initial recognition. The Company has evaluated the credit risk of its investments, taking into consideration the risk of default, historical credit loss experience, financial factors specific to the debtors and general economic conditions and determined the expected credit loss t o be $ 0.4 million f or the year ended December 31, 2023. The maximum amount of the Company’s credit risk exposure is the carrying amounts of cash and cash equivalents, accounts receivable and investments. The Company attempts to mitigate such exposure to its cash by investing only in financial institutions with investment grade credit ratings or secured investments. C) Market risk management Market risk is the risk that changes in market prices will affect the Company’s income or value of its holdings of financial instruments. The Company is exposed to market risk in that changes in market prices will cause fluctuations in the fair value of its marketable securities. The fair value of marketable securities is based on quoted market prices as the Company’s marketable securities are shares held of publicly traded entities. D) Liquidity risk management Liquidity risk is the risk that the Company cannot meet its financial obligations when due. The Company manages liquidity risk by monitoring operating and growth requirements. Management believes its current capital resources and its ability to manage cash flow and working capital levels will be sufficient to satisfy cash requirements associated with funding the Company’s operating expenses to maintain capacity and fund future development activities for at least the next 12 months. However, no assurance can be given that this will be the case or that future sources of capital will not be necessary. The timing of expected cash outflows relating to financial liabilities at December 31, 2023 is as follows: Less than One to three Three to five Thereafter Total Accounts payable and accrued liabilities 68,210 — — — 68,210 Financial guarantee liability — 268 — — 268 Balance, end of year 68,210 268 — — 68,478

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2023
Related party transactions [abstract]
Related Party Transactions	35. Related party transactions The Company entered into the following related party transactions during the periods noted, in addition to those disclosed in note 19 relating to the Company’s joint venture. A member of key management personnel jointly controls a company that owns property leased to SNDL for one of its retail liquor stores. The lease term is from November 1, 2017 to October 31, 2027 and includes extension terms from November 1, 2027 to October 31, 2032 and November 1, 2032 to October 31, 2037. Monthly rent for the location includes base rent, common area costs and sign rent. The rent amounts are subject to increases in accordance with the executed lease agreement. For the year ended December 31, 2023, the Company paid $ 167.0 thousand in total rent with respect to this lease (March 31, 2022 to December 31, 2022 — $ 117.9 thousand). Compensation of key management personnel The Company considers directors and officers of the Company as key management personnel. Year ended 2023 2022 Salaries and short-term benefits 7,255 4,505 Share-based compensation 9,237 5,871 16,492 10,376

Capital Management

Capital Management	12 Months Ended
	Dec. 31, 2023
Disclosure of objectives, policies and processes for managing capital [abstract]
Capital Management	36. Capital management The Company defines capital as shareholders’ equity and debt. Except as otherwise disclosed in these consolidated financial statements, there are no restrictions on the Company’s capital. The Company’s objectives with respect to the management of capital are to: • Maintain financial flexibility in order to preserve the ability to meet financial obligations; • Deploy capital to provide an appropriate investment return to shareholders; and • Maintain a capital structure that allows various financing alternatives.

Non-Controlling Interests

Non-Controlling Interests	12 Months Ended
	Dec. 31, 2023
Disclosure of Non Controlling Interests [Abstract]
Non-Controlling Interests	37. Non-controlling interests The following tables provide summarized financial information for the Company’s subsidiary, Nova, that has a material non-controlling interest effective the date of closing of the Alcanna Transaction, before inter-company eliminations. The Company does have subsidiaries with non-material non-controlling interests that are not presented in the following financial information. A) Nova summarized statement of financial position 2023 2022 Current assets 36,734 18,732 Current liabilities 29,690 19,892 Current net assets 7,044 ( 1,160 ) Non-current assets 87,665 94,419 Non-current liabilities 43,564 45,443 Non-current net assets 44,101 48,976 Net assets 51,145 47,816 B) Nova summarized statement of loss and comprehensive loss 2023 2022 Revenue 259,325 176,588 Earnings (loss) and comprehensive income (loss) 3,327 ( 7,672 ) C) Nova summarized statement of cash flows 2023 2022 Net cash provided by operating activities 11,721 5,848 Net cash used in investing activities ( 2,330 ) ( 5,549 ) Net cash used in financing activities ( 611 ) ( 183 ) Increase in cash 8,780 116

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2023
Disclosure Of Commitments And Contingencies [Abstract]
Commitments and contingencies	38. Commitments and contingencies A) Commitments The Company has entered into certain supply agreements to provide dried cannabis and cannabis products to third parties. The contracts require the provision of various amounts of dried cannabis on or before certain dates. Should the Company not deliver the product in the agreed timeframe, financial penalties apply which may be paid either in product in-kind or cash. Under these agreements, the Company has accrued financial penalties payable as at December 31, 2023 of $ 2.5 million ( December 31, 2022 - $ 2.5 million). The corresponding expenses were recognized during the years ended December 31, 2019 ($ 1.5 million) and December 31, 2021 ($ 1.0 million). B) Contingencies From time to time, the Company and its subsidiaries are or may become involved in various legal claims and actions which arise in the ordinary course of their business and operations. While the outcome of any such claim or action is inherently uncertain, the Company believes that the losses that may result, if any, will not be material to the financial statements.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2023
Disclosure Of Significant Accounting Policies [Abstract]
Cash and cash equivalents	CASH AND CASH EQUIVALENTS Cash and cash equivalents include cash on hand, deposits held with banks and other short-term liquid investments with maturities of less than 90 days.
Restricted cash	RESTRICTED CASH Restricted cash is recorded as current assets representing minimum funding requirements for two separate captive insurance structures.
Biological assets	BIOLOGICAL ASSETS The Company’s biological assets consist of cannabis plants. The Company capitalizes all direct and indirect costs related to the biological transformation of the biological assets between the point of initial recognition and the point of harvest, including labour-related costs, consumables, materials, utilities, facilities costs, depreciation and quality and testing costs. Biological assets are then recorded at fair value and consist of cannabis plants in various stages of vegetation, including cannabis clones which have not been harvested. Net unrealized changes in fair value of biological assets less costs to sell during the period are included in the results of operations for the related period. Biological assets are valued in accordance with International Accounting Standard 41 – Agriculture (“IAS 41”) and are presented at their fair values less costs to sell up to the point of harvest. The fair values are determined using a model which estimates the expected harvest yield in grams for plants currently being cultivated, and then adjusts the amount for the expected selling price less costs to produce and sell per gram. The fair value measurements for biological assets have been categorized as Level 3 fair values based on the inputs to the valuation technique used. The Company’s method of accounting for biological assets attributes value accretion on a straight-line basis throughout the life of the biological asset from initial cloning to the point of harvest. The estimated expected harvest yield is based on assumptions of the estimated yield per plant and the weighted average number of growing weeks completed as a percentage of total expected growing weeks as at year end. These estimates are subject to volatility in market prices, market conditions, yields and costs, which could significantly affect the fair value of biological assets in future periods. Differences from the anticipated yield will be reflected in the net change in fair value of biological assets in future periods.
Inventory	INVENTORY Procured cannabis Inventory is valued at the lower of cost and net realizable value. Cost of cannabis and biomass is comprised of initial third-party acquisition costs, plus analytical testing costs. Costs of extracted cannabis, hemp oil and finished goods inventory are comprised of initial acquisition cost of the biomass and all direct and indirect processing costs including labour-related costs, consumables, materials, packaging supplies, utilities, facility costs, analytical testing costs and production-related depreciation. Net realizable value is determined as the estimated selling price in the ordinary course of business less the estimated cost of completion and the estimated costs necessary to make the sale. Packaging and supplies are initially valued at cost and subsequently at the lower of cost and net realizable value. Harvested cannabis Inventories of harvested cannabis are valued at the lower of cost and net realizable value. Inventories of harvested cannabis are transferred from biological assets at their fair value less costs to sell up to the point of harvest, which becomes the initial deemed cost. All subsequent direct and indirect post-harvest costs are capitalized to inventory as incurred, including labour-related costs, consumables, materials, packaging supplies, utilities, facilities costs, as well as quality and testing costs. Net realizable value is determined as the estimated selling price in the ordinary course of business less the estimated costs of completion and the estimated costs necessary to make the sale. Cannabis supplies and consumables are initially valued at cost and subsequently at the lower of cost and net realizable value. The valuation of biological assets at the point of harvest is used as the measurement basis for all cannabis-based inventory and, thus, any critical estimates and judgements related to the valuation of biological assets are also applicable to inventory. The valuation of work-in-progress and finished goods also requires the estimate of conversion costs incurred, which become part of the carrying amount of the inventory. Retail inventory Retail inventory at Company-owned stores is valued at the lower of cost and net realizable value. Net realizable value is the estimated selling price in the ordinary course of business, less estimated costs of selling the final product. Cost is determined using the weighted average method and comprises direct purchase costs. Inventory is written down to its net realizable value when the cost of inventory is estimated to be unrecoverable due to obsolescence, damage or declining selling prices. The Company makes estimates related to obsolescence, future selling prices, seasonality, customer behavior and fluctuations in inventory levels.
Property, plant, and equipment	PROPERTY, PLANT, AND EQUIPMENT Property, plant and equipment (“PP&E”) are carried at cost less accumulated depreciation, less any recognized impairment losses. The cost of additions, betterments, renewals, and interest during construction is capitalized. Each part of a component of PP&E with a cost that is significant in relation to the total cost of the component is depreciated separately. When the cost of replacing a portion of a component of PP&E is capitalized, the carrying amount of the replaced component is derecognized. Depreciation of construction in progress assets commences at the later of the assets being ready for their intended use or when a Health Canada producer’s licence is granted. The assets’ residual values and useful lives are reviewed, and adjusted as appropriate, at the end of each reporting period. Changes in the expected useful life or the expected pattern of consumption of future economic benefits embodied in the asset are accounted for by adjusting the depreciation period or method, as appropriate, and are treated as changes in accounting estimates. Any gain or loss arising on the disposal or retirement of a component of PP&E is determined as the difference between the sale proceeds and the carrying amount of the asset and is recognized in profit and loss. PP&E are depreciated as they become available for use. Buildings are not depreciated until a producer’s licence is obtained, if required for operation. For assets available for use, depreciation is computed using the straight-line method over the estimated useful lives of the assets, as described below: • Production facilities — 20 years • Equipment — 1 to 10 years • Right of use assets and leasehold improvements — Shorter of estimated useful life or lease term
Leases	LEASES A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. As a lessee The Company recognizes a right of use asset and a lease liability at the lease commencement date. The right of use asset is initially measured at cost and any direct costs of obtaining the lease, and subsequently at cost less any accumulated depreciation and impairment losses and adjusted for certain remeasurements of the lease liability. Depreciation is recognized on the lease asset over the shorter of the estimated useful life of the asset or the lease term. The lease liability is initially measured at the present value of the lease payments that have not been paid at the commencement date, discounted at the rate implicit in the lease or, if that rate cannot be readily determined, the Company’s incremental borrowing rate. The lease liability is subsequently increased by the interest cost on the lease liability and decreased by lease payments made. Lease payments are allocated between the liability and accretion expense. Accretion expense is recognized on the lease liability using the effective interest rate method and payments are applied against the lease liability. The carrying amounts of the right of use assets, lease liability, and the resulting interest and depreciation expense are based on the implicit interest rate within the lease arrangement or, if this information is unavailable, the incremental borrowing rate. Incremental borrowing rates are based on judgements including economic environment, term, and the underlying risk inherent to the asset. As a lessor When the Company acts as a lessor, it determines at lease inception whether each lease is a finance lease or an operating lease. To classify each lease, the Company makes an overall assessment of whether the lease transfers substantially all of the risks and rewards incidental to ownership of the underlying asset. If this is the case, then the lease is a finance lease; if not, then it is an operating lease. Under a finance lease, the Company recognizes a receivable at an amount equal to the net investment in the lease which is the present value of the aggregate of lease payments receivable by the lessor. Under an operating lease, the Company recognizes lease payments received as income on a straight-line basis over the lease term. When the Company is an intermediate lessor, it accounts for its interests in the head lease and the sub-lease separately. It assesses the lease classification of a sub-lease with reference to the right of use asset arising from the head lease, not with reference to the underlying asset.
Intangible assets	INTANGIBLE ASSETS Intangible assets are recorded at cost less accumulated amortization and impairment losses, if any. Intangible assets acquired in a business combination are measured at fair value at the acquisition date. Amortization of definite life intangibles is provided on a straight-line basis over their estimated useful lives, once the intangible asset is available for use. If the intangible asset is not yet available for use it will be tested for impairment on an annual basis in accordance with International Accounting Standard 38 – Intangible Assets (“IAS 38”).
Joint arrangements	Joint arrangements Joint arrangements represent activities where the Company has joint control established by a contractual agreement. Joint control requires unanimous consent for the relevant financial and operational decisions. A joint arrangement is either a joint operation, whereby the parties have rights to the assets and obligations for the liabilities, or a joint venture, whereby the parties have rights to the net assets. For a joint operation, the parties consolidate their proportionate share of the assets, liabilities, revenues, expenses and cash flows of the arrangement with items of a similar nature on a line-by-line basis, from the date that joint control commences until the date that joint control ceases. Joint ventures are accounted for using the equity method of accounting and are initially recognized at cost, or fair value if acquired as part of a business combination. Joint ventures are adjusted thereafter for the post-acquisition change in the Company's share of the equity accounted investment's net assets. The Company’s consolidated financial statements include its share of the equity accounted investment's profit or loss and other comprehensive income, until the date that joint control ceases. When the Company’s share of losses exceeds its interest in an equity accounted investee, the carrying amount of that interest, including any long-term investments, is reduced to nil, and the recognition of further losses is discontinued except to the extent that the Company has an obligation or has made payments on behalf of the investee. Distributions from and contributions to investments in equity accounted investees are recognized when received or paid.
Interests in equity-accounted investees	Interests in equity-accounted investees The Company’s interest in equity-accounted investees comprise interests in an associate and a joint venture. Associates are those entities in which the Company has significant influence, but not control or joint control, over the financial and operating policies. A joint venture is an arrangement in which the Company has joint control, whereby the Company has rights to the net assets of the arrangement, rather than rights to assets and obligations for its liabilities. Interests in associates and joint ventures are accounted for using the equity method. They are initially recognized at cost, which includes transaction costs. Subsequent to initial recognition, the consolidated financial statements include the Company’s share of the profit or loss and OCI of equity-accounted investees, until the date on which significant influence or joint control ceases.
Financial instruments	FINANCIAL INSTRUMENTS The Company classifies the fair value of financial instruments according to the following hierarchy based on the amount of observable inputs used to value the instruments: Level 1 – unadjusted quoted prices in active markets for identical assets or liabilities. An active market for an asset or liability is a market in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis. Level 2 – quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 – unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Financial assets and liabilities are recognized when the Company becomes a party to the contractual provisions of the instrument. A financial asset or liability is measured initially at fair value plus, for an item not measured at fair value through profit and loss (“FVTPL”), transaction costs that are directly attributable to its acquisition or issuance. (i) Financial assets At initial recognition, a financial asset is classified and measured at: amortized cost, FVTPL or fair value through other comprehensive income (“FVOCI”) depending on the business model and contractual cash flows of the instrument. Financial assets at amortized cost are subsequently measured at amortized cost using the effective interest rate method. The amortized cost is reduced by impairment losses. Interest income, foreign exchange gains and losses and impairment are recognized in profit or loss. Financial assets at FVTPL are subsequently measured at fair value. Net gains and losses, including any interest or dividend income, are recognized in profit or loss. Financial assets are derecognized when the rights to receive cash flows from the assets have expired or have been transferred and the Company has transferred substantially all risks and rewards of ownership. A substantial modification to the terms of an existing financial asset results in the derecognition of the financial asset and the recognition of a new financial asset at fair value. In the event that the modification to the terms of an existing financial asset do not result in a substantial difference in the contractual cash flows the gross carrying amount of the financial asset is recalculated and the difference resulting from the adjustment in the gross carrying amount is recognized in profit or loss. The Company’s cash and cash equivalents, restricted cash and accounts receivable, are measured at amortized cost. The Company’s marketable securities are measured at FVTPL. The Company’s investments are measured at amortized cost and FVTPL. The Company has no financial assets measured at FVOCI. (ii) Financial liabilities Financial liabilities are initially measured at amortized cost or FVTPL. Accounts payable and accrued liabilities are initially recognized at the amount required to be paid less any required discount to reduce the payables to fair value. Financial liabilities at FVTPL are measured at fair value and net gains and losses, including any interest expense and foreign exchange gains and losses, are recognized in profit or loss. Financial liabilities are derecognized when the liability is extinguished. A substantial modification of the terms of an existing financial liability is recorded as an extinguishment of the original financial liability and the recognition of a new financial liability. The difference between the carrying amount of a financial liability extinguished and the consideration paid is recognized in profit or loss. Where a financial liability is modified in a way that does not constitute an extinguishment, the modified cash flows are discounted at the liability’s original effective interest rate. Transaction costs paid to third parties in a modification are amortized over the remaining term of the modified debt. The Company’s accounts payable and accrued liabilities and financial guarantee liability (included in other liabilities) are measured at amortized cost. The Company’s derivative warrant liabilities were designated as FVTPL upon initial recognition.
Impairment of assets	IMPAIRMENT OF ASSETS Management assesses and continually monitors internal and external indicators of impairment relating to the Company’s assets. (i) Financial assets The Company applies an expected credit loss (“ECL”) model to all financial assets not held at FVTPL where credit losses that are expected to transpire in future years are provided for, irrespective of whether a loss event has occurred or not as at the statement of financial position date. For trade receivables, the Company has applied the simplified approach under International Financial Reporting Standard 9 – Financial Instruments (“IFRS 9”) and have calculated ECLs based on lifetime expected credit losses, taking into consideration historical credit loss experience and financial factors specific to the debtors and general economic conditions. ECLs are a probability-weighted estimate of credit losses. Credit losses are measured as the present value of the difference between the cash flows due in accordance with the contract and the cash flow the Company expects to receive. ECLs are discounted at the effective interest rate of the financial asset. For financial assets measured at amortized cost, the Company has applied the general approach under IFRS 9 and has calculated ECLs based on lifetime expected credit losses, taking into consideration whether the credit risk of a financial asset has increased significantly since initial recognition. When determining whether the credit risk of a financial asset has increased significantly since initial recognition and when estimating ECLs, the Company considers quantitative and qualitative information and analysis, based on the Company’s historical experience and informed credit assessment, that includes forward-looking information. (ii) Non-financial assets The carrying amounts of the Company’s PP&E, right of use assets and intangible assets are assessed for impairment indicators and impairment reversal indicators at each reporting period end to determine whether there is an indication that such assets have experienced impairment or impairment reversal. If such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss or impairment reversal, if any. An impairment loss is recognized for the amount by which the asset’s carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset’s or group of asset’s estimated fair value less costs of disposal and its value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable independent cash inflows (a cash generating unit (“CGU”)). Where an impairment loss is subsequently determined to have reversed, the carrying amount of the asset or CGU is adjusted to the revised estimate of its recoverable amount but limited to the carrying amount that would have been determined had no impairment loss been recognized previously. A reversal of an impairment loss, net of any depreciation that would have been recorded, is recognized immediately in the statements of loss and comprehensive loss. Goodwill is assessed for impairment annually or when facts and circumstances indicate that it might be impaired. Goodwill is tested for impairment at a CGU level by comparing the carrying amount to the recoverable amount, which is determined as the greater of fair value less costs of disposal and value in use. Any excess of the carrying amount over the recoverable amount is the impaired amount. The recoverable amount estimates are categorized as Level 3 according to the fair value hierarchy. Impairment charges are recognized in profit and loss. Goodwill is reported at cost less any accumulated impairment. Goodwill impairments are not reversed.
Provisions	Provisions A provision is recognized when the Company has a present legal or constructive obligation as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation, and the amount of the obligation can be reliably estimated. The amount of a provision is the best estimate of the consideration at the end of the reporting period. Provisions measured using estimated cash flows required to settle the obligation are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and, where appropriate, the risks specific to the liability. A provision for onerous contracts is recognized when the expected benefits to be derived by the Company from a contract are lower than the unavoidable cost of meeting its obligations under the contract. The Company has no onerous contracts during the years ended and as at December 31, 2023 and 2022.
Non-monetary transactions	NON-MONETARY TRANSACTIONS All non-monetary transactions are measured at the fair value of the asset surrendered or the asset received, whichever is more reliable, unless the transaction lacks commercial substance, or the fair value cannot be reliably established. The lack of commercial substance requirement is met when the future cash flows are expected to change significantly as a result of the transaction. When the fair value of a non-monetary transaction cannot be reliably measured, it is recorded at the carrying amount (after reduction, when appropriate, for impairment) of the asset given up, adjusted by the fair value of any monetary consideration received or given. When the asset received or the consideration given consists of shares in an actively traded market, the value of those shares will be considered fair value.
Compound financial instruments	COMPOUND FINANCIAL INSTRUMENTS The liability component of a compound financial instrument is recognized initially at the fair value of a similar liability which does not have an equity conversion option. The equity component is recognized initially as the difference between the fair value of the compound financial instrument taken as a whole and the fair value of the liability component. Any directly attributable transaction costs are allocated to the liability and equity components in proportion to their initial carrying amounts. Subsequent to initial recognition, the liability component of a compound financial instrument is measured at amortized cost using the effective interest method. The equity component of a compound financial instrument is not re-measured subsequent to initial recognition. Interest and losses and gains relating to the financial liability are recognized in profit and loss. On conversion, the financial liability is reclassified to equity; no gain or loss is recognized on conversion.
Revenue	REVENUE Under International Financial Reporting Standard 15 – Revenue from Contracts with Customers (“IFRS 15”), to determine the amount and timing of revenue to be recognized, the Company follows a five-step model: 1. Identifying the contract with a customer 2. Identifying the performance obligations 3. Determining the transaction price 4. Allocating the transaction price to the performance obligations 5. Recognizing revenue when/as performance obligations are satisfied Cannabis revenue Gross revenue from the direct sale of cannabis for a fixed price is recognized when the Company transfers control of the goods to the customer. The transfer of control is specific to each contract and can range from the point of delivery to a specified length of time for the customer to accept the goods. The Company eliminates cannabis revenue and related cost of sales from sales to provincial boards when it is expected to be subsequently repurchased by its licensed retailer subsidiaries for resale, at which point the full retail sales revenue will be recognized. For contracts that permit the customer to return goods, revenue is recognized to the extent that it is highly probable that a significant reversal in the amount of cumulative revenue recognized will not occur. Therefore, the amount of revenue recognized is adjusted for expected returns, which are estimated based on historical data and management’s expectation of future returns. In these circumstances, a refund liability and a right to recover returned goods asset are recognized. The right to recover returned goods asset is measured at the former carrying amount of the inventory less any expected costs to recover goods. The refund liability is included in accounts payable and accrued liabilities and the right to recover returned goods is included in inventory. The Company reviews its estimate of expected returns at each reporting date and updates the amounts of the asset and liability accordingly. Gross revenue earned in Canada includes excise taxes, which the Company pays as principal, but excludes duties and taxes collected on behalf of third parties. Net revenue is gross revenue less excise taxes. Gross revenue is recognized to the extent that it is highly probable that a significant reversal will not occur. Therefore, gross revenue is stated net of expected price discounts, allowances for customer returns and similar items. Generally, payment of the transaction price is due within credit terms that are consistent with industry practices, with no element of financing. Retail revenue Retail revenue consists of sales through corporate stores and e-commerce operations. Revenue at corporate stores is recognized at the point of sale when the customer takes control of the goods or service and is measured at the amount of consideration to which the Company expects to be entitled to, net of estimated returns, and sales incentives. The Company considers its performance obligations to be satisfied at the point of sale. The Company’s goods and services are generally capable of being distinct and are accounted for as a separate performance obligation. Sales through e-commerce operations are recognized when the customer takes control of the goods or services upon delivery and is measured at the amount of consideration to which the Company expects to be entitled, net of estimated returns, and sales incentives. It is the Company’s policy to sell merchandise with a limited right to return. Returns are only provided through exchanges or the issuance of a gift card. The Company sells gift cards. The sale of a gift card creates a future performance obligation. When (or as) the performance obligation is satisfied, the Company recognizes revenue as the amount of the transaction price. Franchise revenue Franchise fees are recognized at a point in time when the Company satisfies its performance obligations which is determined to be when the franchise begins operations. Performance obligations include site selection, lease assistance and training. Initial franchise fees are allocated to the performance obligations based on the estimated standalone selling prices. Funds received in advance of a franchise starting operations are recorded as franchise fee deposits. Ongoing royalty and advertisement fees, which are determined on a formula basis in accordance with the terms of the relevant franchise agreement, based on monthly revenues or margins of the franchisees, are recognized as revenue when the contractual performance obligations have been achieved or other service-related performance obligations have been completed. The performance obligations relate to providing support to the franchise partners and stewarding the Spiritleaf brand. While the franchisees are operating under the name Spiritleaf, they utilize the Spiritleaf trademark, thereby, the Company has performed its obligations to recognize the revenue, as per the franchise agreements. Other revenue Proprietary licensing revenue is generated from proprietary licensing services provided to customers. Revenue is recognized when the services are delivered to the customer at a point in time as outlined by the contract. The Company does not operate or manage these services separately from its primary retail sales or operations, and there are no significant costs of sale related to proprietary licensing revenue. Millwork revenue is defined as the proceeds and receivables related to the sale of millwork, which includes store fixtures. Millwork revenue is recognized at a point in time when a contractual exchange agreement has been entered into, and the performance obligation is considered to have been met when the millwork has been delivered to the franchise partner. Supply revenue represents revenues earned from the sales of custom Spiritleaf accessories to franchise locations. The Spiritleaf accessory revenue is earned when the goods are shipped.
Research and development	RESEARCH AND DEVELOPMENT Research costs are expensed in the period incurred. Development costs are expensed in the period incurred unless the Company believes a development project meets the generally accepted criteria for deferral and amortization per IAS 38. Research and development costs comprise consulting fees, costs to cultivate and test cultivar batches to the point of commercialization and licence acquisition fees. No development costs have been capitalized as at December 31, 2023, or December 31, 2022.
Share-based compensation	SHARE-BASED COMPENSATION The Company’s share-based compensation plans include equity-settled awards and cash-settled awards. The fair value of share-based compensation expenses is estimated using the Black-Scholes pricing model and relies on a number of estimates, such as the expected life of the award, the volatility of the underlying share price, the risk-free rate of return and the estimated rate of forfeiture of awards granted. Equity-settled Simple and performance warrants, stock options and restricted share units (“RSUs”) are granted from time to time to employees, directors, and others at the discretion of the Board. The grant date fair value of simple warrants, performance warrants, stock options and RSUs is recognized as share-based compensation expense, with a corresponding increase in contributed surplus, over the vesting period of the awards. On exercise of simple warrants, performance warrants and stock options, the cash consideration received is credited to share capital and the associated amount in contributed surplus is reclassified to share capital. On exercise of RSUs, the associated amount in contributed surplus is reclassified to share capital. Cash-settled DSUs are granted to directors and represent a right for the holder to receive a cash payment equal to the fair value of the Company’s common shares calculated at the date of such payment. Nova DSUs are granted to Nova directors and represent a right for the holder to receive a cash payment equal to the fair value of Nova’s common shares calculated at the date of such payment, or Nova common shares, at the discretion of Nova. DSUs are accounted for as a liability instrument and measured at fair value based on the market value of the Company’s common shares at each period end. The fair value is recognized as share-based compensation over the vesting period. Fluctuations in the fair value are recognized within share-based compensation in the period in which they occur.
Income taxes	INCOME TAXES Income taxes are recognized in profit and loss, except to the extent that they relate to items recognized directly in equity, in which case the tax is recognized in equity. Current taxes are generally the expected income tax payable on taxable income for the reporting period, calculated using rates enacted or substantively enacted at the consolidated statements of financial position dates, and include any adjustment to income tax payable or recoverable in respect of previous periods. Uncertain income tax positions are accounted for using the standards applicable to current income tax assets and liabilities. Liabilities and assets are recorded to the extent they are deemed to be probable. Deferred tax is recognized using the asset and liability method, based on temporary differences between financial statement carrying amounts of assets and liabilities and their respective income tax bases. Deferred tax is determined using tax rates that have been enacted or substantively enacted at the consolidated statements of financial position date and are expected to apply when the related deferred tax asset is realized, or the deferred tax liability is settled. Deferred tax is not accounted for where it arises from initial recognition of an asset or liability in a transaction other than a business combination which, at the time of the transaction, affects neither accounting nor taxable income (loss). The amount of deferred tax recognized is based on the expected manner and timing of realization or settlement of the carrying amount of assets and liabilities. Deferred tax assets are recognized only to the extent that it is probable that future taxable income will be available for which the temporary differences can be utilized. Deferred tax assets are reviewed at each reporting date and adjusted to the extent that it is no longer probable that the related tax benefit will be realized. Tax assets and liabilities are offset when the Company has a legally enforceable right to offset the recognized amounts and intends either to settle on a net basis or to realize the asset and settle the liability simultaneously. Deferred tax assets, including those arising from tax loss carry-forwards, require management to assess the likelihood that the Company will generate sufficient taxable income in future periods in order to utilize recognized deferred tax assets. Assumptions about the generation of future taxable profits depend on management’s estimates of future cash flows. In addition, future changes in tax laws could limit the ability of the Company to obtain tax deductions in future periods. To the extent that future cash flows and taxable income differ significantly from estimates, the ability of the Company to realize the net deferred tax assets recorded at the reporting date could be affected.
Business Combinations and goodwill	BUSINESS COMBINATIONS and goodwill The fair value of assets acquired and liabilities assumed in a business combination, including contingent consideration and goodwill, is estimated based on information available at the date of acquisition. Various valuation techniques are applied for measuring fair value including market comparables and discounted cash flows which rely on assumptions such as future selling prices, expected sales volumes, discount rates and future development and operating costs. Changes in these variables could significantly impact the carrying value of the net assets. Specific judgement is required in the identification of intangible assets. Business combinations are accounted for using the acquisition method of accounting when the acquired assets meet the definition of a business. The acquired identifiable assets and liabilities and contingent liabilities assumed in a business combination are measured at their fair values at the acquisition date. The cost of an acquisition is measured as the fair value of consideration transferred to the sellers, including cash paid and the fair value of assets given, equity instruments issued, and liabilities of the seller assumed at the acquisition date. Any excess of the fair value of the consideration paid over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recorded as goodwill. If the cost of the acquisition is less than the fair value of the net assets acquired, the difference is recognized immediately in profit or loss. Transaction costs associated with business combinations are expensed as incurred. After initial recognition, goodwill is measured at cost less any accumulated impairment losses. Goodwill is not amortized. For the purpose of impairment testing, goodwill acquired in a business combination is, from the acquisition date, allocated to each CGU that is expected to benefit from the synergies of the combination, if any, irrespective of whether other assets or liabilities of the acquiree are assigned to those units. Each CGU represents the lowest level at which management monitors the goodwill.
Non-controlling Interests	NON-CONTROLLING INTERESTS The Company recognizes non-controlling interests in an acquired entity either at fair value or at the non-controlling interest’s proportionate share of the acquired entity’s net identifiable assets, determined on an acquisition-by-acquisition basis.
Loss of control	Loss of control When the Company loses control over a subsidiary, it derecognizes the assets and liabilities of the subsidiary, and any related non-controlling interest and other components of equity. Any resulting gain or loss is recognized in profit or loss. Any interest retained in the former subsidiary is measured at fair value when control is lost.
Captive insurance	Captive Insurance The Company has secured insurance coverage for its directors and officers through two separate captive insurance structures. The first structure is a captive cell program entered into with a registered insurer for the purpose of holding and managing the Company’s coverage funds through a separate cell account (“Cell Captive”). The Company applies International Financial Reporting Standard 10 – Consolidated Financial Statements (“IFRS 10”) in its assessment of control as it relates to the Cell Captive. The Company’s accounting policy is to consolidate the Cell Captive. The Cell Captive funds are held as cash and may be invested according to the Company’s treasury policy. The funds are disclosed as restricted cash as the Cell Captive must be fully funded at all times. The Company will recognize any gains or losses from fair market value adjustments, interest and/or foreign exchange in the statements of profit (loss) and comprehensive income (loss). The second structure is a wholly owned subsidiary, Sundial Insurance (Bermuda) Ltd. (“SIBL”), incorporated to provide separate and additional coverage. The Company applies IFRS 10 in its assessment of control as it relates to SIBL. The Company’s accounting policy is to consolidate SIBL. The funds are disclosed as restricted cash as the funds were required for initial capitalization of the entity and there is a requirement to maintain minimum capital and surplus in accordance with industry regulations.
Net earnings (loss) per share	Net earnings (loss) per share Basic earnings (loss) per share is calculated by dividing the net earnings (loss) for the period attributable to common shareholders of the Company by the weighted average number of common shares outstanding during the period. Diluted earnings (loss) per share is calculated by adjusting the weighted average number of common shares outstanding for dilutive instruments. The number of shares included with respect to simple warrants, performance warrants, stock options, RSUs, equity classified warrants and liability classified warrants is computed using the treasury share method.
New accounting standards	NEW ACCOUNTING STANDARDS The following accounting standards were effective for annual periods beginning on or after January 1, 2023 and did not have a material impact on the Company’s consolidated financial statements: • IFRS 17 Insurance Contracts • Definition of Accounting Estimate — Amendments to IAS 8 • Deferred Tax related to Assets and Liabilities arising from a Single Transaction — Amendments to IAS 12 There are new accounting standards, amendments to accounting standards and interpretations that are effective for annual periods beginning on or after January 1, 2024, that have not been applied in preparing the consolidated financial statements for the year ended December 31, 2023. These standards and interpretations are not expected to have a material impact on the Company’s consolidated financial statements and include: • Classification of Liabilities as Current or Non-current — Amendment to IAS 1 • Non-current Liabilities with Covenants — Amendments to IAS 1 • Lease Liability in a Sale and Leaseback — Amendments to IFRS 16 • Supplier Finance Arrangements — Amendments to IAS 7 and IFRS 7

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2023
Disclosure Of Significant Accounting Policies [Abstract]
Estimated Use Full Life Of Asset Explanatory	For assets available for use, depreciation is computed using the straight-line method over the estimated useful lives of the assets, as described below: • Production facilities — 20 years • Equipment — 1 to 10 years • Right of use assets and leasehold improvements — Shorter of estimated useful life or lease term

Business Acquisitions (Tables)

Business Acquisitions (Tables)	12 Months Ended
	Dec. 31, 2023
Alcanna
Disclosure of detailed information about business combination [line items]
Summary of Purchase Price Allocated	The fair value of consideration paid was as follows: Provisional Adjustments Final Cash 54,339 — 54,339 Issuance of common shares 287,129 — 287,129 341,468 — 341,468
Summary of Fair Value of Assets and Liabilities Acquired	The fair value of the assets and liabilities acquired was as follows: Provisional Adjustments Final Cash 23,190 — 23,190 Accounts receivable 1,868 — 1,868 Prepaid expenses and deposits 10,986 — 10,986 Inventory 105,022 — 105,022 Right of use assets 171,866 ( 31,117 ) 140,749 Property, plant and equipment 86,059 24,632 110,691 Intangible assets — 45,100 45,100 Goodwill 280,243 ( 129,308 ) 150,935 Accounts payable and accrued liabilities ( 36,703 ) ( 44 ) ( 36,747 ) Long-term debt ( 10,000 ) — ( 10,000 ) Lease liabilities ( 232,755 ) 90,736 ( 142,019 ) Derivative warrants ( 58 ) ( 27 ) ( 85 ) Non-controlling interest ( 58,250 ) 28 ( 58,222 ) 341,468 — 341,468
Zenabis
Disclosure of detailed information about business combination [line items]
Summary of Purchase Price Allocated	The fair value of consideration paid was as follows: Final Extinguishment of senior loan 18,215 18,215
Summary of Fair Value of Assets and Liabilities Acquired	The fair value of the assets and liabilities acquired was as follows: Final Cash 2,509 Accounts receivable 888 Biological assets 909 Prepaid expenses and deposits 1,856 Inventory 4,512 Assets held for sale 6,375 Right of use assets 32 Property, plant and equipment 4,658 Accounts payable and accrued liabilities ( 3,437 ) Lease liabilities ( 87 ) 18,215
Valens
Disclosure of detailed information about business combination [line items]
Summary of Purchase Price Allocated	The fair value of consideration paid was as follows: Provisional Adjustments Final Valens loan facility 61,512 — 61,512 Issuance of common shares 83,953 — 83,953 Contingent consideration — 602 602 145,465 602 146,067
Summary of Fair Value of Assets and Liabilities Acquired	Th e fair value of the assets and liabilities acquired was as follows: Provisional Adjustments Final Cash 3,615 — 3,615 Accounts receivable 21,361 — 21,361 Marketable securities 876 — 876 Prepaid expenses and deposits 4,980 — 4,980 Inventory 14,140 — 14,140 Assets held for sale 6,330 — 6,330 Right of use assets 2,882 — 2,882 Property, plant and equipment 63,030 ( 10,938 ) 52,092 Intangible assets 2,285 ( 785 ) 1,500 Goodwill 68,697 12,325 81,022 Accounts payable and accrued liabilities ( 34,185 ) — ( 34,185 ) Contractual obligation ( 5,339 ) — ( 5,339 ) Lease liabilities ( 3,207 ) — ( 3,207 ) 145,465 602 146,067
Superetta
Disclosure of detailed information about business combination [line items]
Summary of Purchase Price Allocated	The fair value of consideration paid was as follows: Extinguishment of promissory note 2,625 2,625
Summary of Fair Value of Assets and Liabilities Acquired	The fair value of the assets and liabilities acquired was as follows: Cash 80 Accounts receivable 30 Prepaid expenses and deposits 141 Inventory 371 Right of use assets 1,129 Property, plant and equipment 2,077 Accounts payable and accrued liabilities ( 74 ) Lease liabilities ( 1,129 ) 2,625
Inner Spirit
Disclosure of detailed information about business combination [line items]
Summary of Purchase Price Allocated	The fair value of consideration paid was as follows: Provisional Adjustments Final Cash 92,583 — 92,583 Issuance of common shares 26,216 — 26,216 Contingent consideration 1,150 — 1,150 119,949 — 119,949
Summary of Fair Value of Assets and Liabilities Acquired	The fair value of the assets and liabilities acquired was as follows: Provisional Adjustments Final Cash 9,808 — 9,808 Accounts receivable 750 ( 327 ) 423 Prepaid expenses and deposits 853 — 853 Inventory 2,733 2,011 4,744 Right of use assets — 5,730 5,730 Property, plant and equipment 12,108 ( 5,730 ) 6,378 Intangible assets — 46,000 46,000 Net investment in subleases 23,751 50 23,801 Goodwill 114,537 ( 42,041 ) 72,496 Accounts payable and accrued liabilities ( 2,678 ) — ( 2,678 ) Convertible debentures ( 12,025 ) — ( 12,025 ) Lease liabilities ( 29,481 ) ( 50 ) ( 29,531 ) Financial guarantee liability ( 407 ) — ( 407 ) Deferred tax liability — ( 5,643 ) ( 5,643 ) 119,949 — 119,949

Discontinued Operations (Tables

Discontinued Operations (Tables)	12 Months Ended
	Dec. 31, 2023
Disclosure of analysis of single amount of discontinued operations [abstract]
Summary Results of Discontinued Operations	Results of discontinued operations Year ended 2023 2022 Net revenue 7,510 — Cost of sales 3,841 — Gross profit 3,669 — General and administrative 3,639 — Sales and marketing 1,817 — Depreciation and amortization 450 — Operating loss ( 2,237 ) — Finance costs ( 16 ) — Loss on disposition ( 2,282 ) — Net loss ( 4,535 ) —

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Dec. 31, 2023
Disclosure of operating segments [abstract]
Disclosure of Reportable Segments Explanatory	Liquor Cannabis (1) Cannabis (2) Investments (3) Corporate Total As at December 31, 2023 Total assets 320,239 206,988 208,295 717,751 19,891 1,473,164 Year ended December 31, 2023 Net revenue (4) 578,895 289,980 87,071 — ( 46,940 ) 909,006 Gross profit 137,286 73,690 ( 20,561 ) — — 190,415 Operating income (loss) 24,630 4,919 ( 112,445 ) 11,746 ( 91,668 ) ( 162,818 ) Earnings (loss) before income tax 19,190 1,310 ( 112,159 ) 8,429 ( 88,786 ) ( 172,016 ) (1) Cannabis retail includes the operations of Superette for the period February 8, 2023 to December 31, 2023 (note 5(d) ). (2) Cannabis operations includes the operations of Valens for the period January 18, 2023 to December 31, 2023 (note 5(c) ). (3) Total assets include cash and cash equivalents. (4) The Company has eliminated $ 46.9 million of cannabis operations revenue and equal cost of sales associated with sales to provincial boards that are expected to be subsequently repurchased by the Company’s licensed retailer subsidiaries for resale, at which point the full retail sales revenue will be recognized. The elimination was recorded in the Corporate segment. Liquor (1) Cannabis (1) Cannabis (2) Investments (3) Corporate Total As at December 31, 2022 Total assets 351,338 200,393 163,130 825,151 19,338 1,559,350 Year ended December 31, 2022 Net revenue 462,180 205,610 44,407 — — 712,197 Gross profit 106,307 47,334 ( 13,266 ) — — 140,375 Operating income (loss) 20,619 ( 180,956 ) ( 29,372 ) ( 91,275 ) ( 66,790 ) ( 347,774 ) Earnings (loss) before income tax 17,726 ( 183,055 ) ( 29,618 ) ( 127,362 ) ( 57,461 ) ( 379,770 ) (1) Liquor retail includes operations of Alcanna retail stores for the period March 31, 2022 to December 31, 2022, and cannabis retail includes operations of Nova retail stores for the period March 31, 2022 to December 31, 2022 (note 5(a) ). (2) Cannabis operations includes the operations of Zenabis for the period November 1, 2022 to December 31, 2022 (note 5(b) ). (3) Total assets include cash and cash equivalents.

Restricted Cash (Tables)

Restricted Cash (Tables)	12 Months Ended
	Dec. 31, 2023
Restricted Cash [Abstract]
Disclosure of Restricted Cash	As at December 31, 2023 December 31, 2022 Captive insurance 19,616 19,044 Other 275 294 19,891 19,338

Marketable Securities (Tables)

Marketable Securities (Tables)	12 Months Ended
	Dec. 31, 2023
Marketable Securities Disclosure [Abstract]
Disclosure of Marketable Securities	As at December 31, 2023 December 31, 2022 Balance, beginning of year 21,926 83,724 Acquisition (note 5(c)) 876 — Additions — 3,755 Dispositions ( 13,319 ) — Change in fair value recognized in profit or loss ( 9,258 ) ( 65,553 ) Balance, end of period 225 21,926

Accounts Receivable (Tables)

Accounts Receivable (Tables)	12 Months Ended
	Dec. 31, 2023
Subclassifications of assets, liabilities and equities [abstract]
Summary of Accounts Receivable	As at December 31, 2023 December 31, 2022 Trade receivables 23,422 17,558 Other receivables 3,637 5,078 27,059 22,636

Biological Assets (Tables)

Biological Assets (Tables)	12 Months Ended
	Dec. 31, 2023
Changes in biological assets [abstract]
Summary of Change in Carrying Value of Biological Assets	The Company’s biological assets consist of cannabis plants in various stages of vegetation, including plants which have not been harvested. The change in carrying value of biological assets is as follows: As at December 31, 2023 December 31, 2022 Balance, beginning of year 3,477 4,410 Increase in biological assets due to capitalized costs 21,501 27,749 Acquisition — 909 Net change in fair value of biological assets ( 7,936 ) ( 1,309 ) Transferred to inventory upon harvest ( 16,613 ) ( 28,282 ) Balance, end of year 429 3,477

Inventory (Tables)

Inventory (Tables)	12 Months Ended
	Dec. 31, 2023
Classes of current inventories [abstract]
Summary of Inventories	As at December 31, 2023 December 31, 2022 Retail liquor 83,923 82,589 Retail cannabis 19,516 13,373 Millwork — 276 Harvested cannabis Raw materials, packaging and components 7,781 4,577 Extracted cannabis & hemp oils 11,989 — Work-in-progress 995 19,927 Finished goods 4,856 7,040 129,060 127,782

Assets Held for Sale (Tables)

Assets Held for Sale (Tables)	12 Months Ended
	Dec. 31, 2023
Assets Held For Sale [Abstract]
Summary of Assets Held for Sale Measured at Fair Value	At December 31, 2023, and December 31, 2022, assets held for sale were measured at their fair value less costs to sell and comprised of the following: Stellarton facility 6,375 6,375

Right Of Use Assets (Tables)

Right Of Use Assets (Tables)	12 Months Ended
	Dec. 31, 2023
Disclosure of quantitative information about right-of-use assets [abstract]
Schedule of Right Of Use Assets	Cost Balance at December 31, 2021 8,038 Acquisitions (note 5(a), note 5(b)) 140,781 Additions 6,103 Tenant inducement allowances ( 46 ) Dispositions and remeasurements 12,191 Balance at December 31, 2022 167,067 Acquisition (note 5(c), note 5(d)) 4,011 Additions 3,530 Renewals, remeasurements and dispositions 24,424 Balance at December 31, 2023 199,032 Accumulated depreciation and impairment Balance at December 31, 2021 1,321 Depreciation 25,227 Impairment 6,365 Balance at December 31, 2022 32,913 Depreciation 32,640 Impairment 3,852 Dispositions ( 52 ) Balance at December 31, 2023 69,353 Net book value Balance at December 31, 2022 134,154 Balance at December 31, 2023 129,679

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	12 Months Ended
	Dec. 31, 2023
Property, plant and equipment [abstract]
Schedule of Property Plant and Equipment	Land Production facilities Leasehold improvements Equipment Construction Total Cost Balance at December 31, 2021 12,388 153,332 3,899 32,777 6,103 208,499 Acquisitions (note 5(a), note 5(b)) 130 4,528 64,059 44,263 2,369 115,349 Additions 57 256 3,465 5,907 982 10,667 Dispositions ( 611 ) ( 3,882 ) ( 609 ) ( 4,025 ) — ( 9,127 ) Balance at December 31, 2022 11,964 154,234 70,814 78,922 9,454 325,388 Acquisitions (note 5(c), note 5(d)) 8,661 24,330 3,660 17,518 — 54,169 Additions — — 2,739 5,609 102 8,450 Transfers from CIP — 882 — — ( 882 ) — Dispositions — 38 ( 314 ) ( 2,885 ) — ( 3,161 ) Balance at December 31, 2023 20,625 179,484 76,899 99,164 8,674 384,846 Accumulated depreciation and impairment Balance at December 31, 2021 — 131,867 411 13,928 5,821 152,027 Depreciation — 1,464 7,131 11,278 — 19,873 Impairment — — 7,794 7,415 — 15,209 Dispositions — ( 1,324 ) ( 610 ) ( 3,196 ) — ( 5,130 ) Balance at December 31, 2022 — 132,007 15,369 28,782 5,821 181,979 Depreciation — 2,526 11,675 15,796 — 29,997 Impairment — 10,825 1,697 8,924 — 21,446 Dispositions — 62 ( 293 ) ( 1,261 ) — ( 1,492 ) Balance at December 31, 2023 — 145,420 28,448 52,241 5,821 231,930 Net book value Balance at December 31, 2022 11,964 22,227 55,445 50,140 3,633 143,409 Balance at December 31, 2023 20,625 34,064 48,451 46,923 2,853 152,916

Net Investment In Subleases (Ta

Net Investment In Subleases (Tables)	12 Months Ended
	Dec. 31, 2023
Disclosure Of Net Investment In Subleases [Abstract]
Disclosure of Detailed Information Net Investment in Subleases Explanatory	December 31, 2023 December 31, 2022 Balance, beginning of year 23,319 26,562 Additions 832 1,408 Finance income 857 833 Rents recovered (payments made directly to landlords) ( 4,004 ) ( 4,141 ) Dispositions and remeasurements 362 ( 1,343 ) Balance, end of year 21,366 23,319 Current portion 2,970 3,701 Long-term 18,396 19,618

Intangible assets (Tables)

Intangible assets (Tables)	12 Months Ended
	Dec. 31, 2023
Disclosure of detailed information about intangible assets [abstract]
Summary of Reconciliation of Changes in Intangible Assets and Goodwill	Brands and trademarks Franchise agreements Software Retail Total Cost Balance at December 31, 2021 41,445 10,000 — — 51,445 Acquisition (note 5(a)) 38,950 — 5,400 750 45,100 Additions 55 — 142 — 197 Dispositions ( 50 ) — — — ( 50 ) Balance at December 31, 2022 80,400 10,000 5,542 750 96,692 Acquisition (note 5(c)) 1,500 — — — 1,500 Additions — — 87 — 87 Dispositions — — ( 73 ) — ( 73 ) Balance at December 31, 2023 81,900 10,000 5,556 750 98,206 Accumulated amortization and impairment Balance at December 31, 2021 736 561 — — 1,297 Amortization 293 1,250 679 — 2,222 Impairment 18,288 — — — 18,288 Balance at December 31, 2022 19,317 1,811 679 — 21,807 Amortization 195 1,250 888 — 2,333 Impairment 935 — — — 935 Dispositions — — ( 18 ) — ( 18 ) Balance at December 31, 2023 20,447 3,061 1,549 — 25,057 Net book value Balance at December 31, 2022 61,083 8,189 4,863 750 74,885 Balance at December 31, 2023 61,453 6,939 4,007 750 73,149

Investments (Tables)

Investments (Tables)	12 Months Ended
	Dec. 31, 2023
Disclosure Of Investments [Abstract]
Investments Other Than Investments Accounted for Using Equity Method	As at December 31, 2023 December 31, 2022 Investments at amortized cost 24,405 24,493 Investments at FVTPL 8,655 72,761 33,060 97,254 Current portion 3,400 6,552 Long-term 29,660 90,702

Equity-Accounted Investees (Tab

Equity-Accounted Investees (Tables)	12 Months Ended
	Dec. 31, 2023
Disclosure Of Interests In Other Entities [Abstract]
Schedule of Equity Method Investments Table	As at December 31, 2023 December 31, 2022 Interest in joint venture 538,331 519,255
Disclosure of joint ventures	The following table summarizes the carrying amount of the Company’s interest in the joint venture: Carrying amount Balance at December 31, 2021 412,858 Capital contributions 119,137 Share of net loss ( 43,002 ) Share of other comprehensive income 31,923 Distributions ( 1,661 ) Balance at December 31, 2022 519,255 Capital contributions 25,089 Share of net earnings 6,758 Share of other comprehensive income (loss) ( 12,771 ) Balance at December 31, 2023 538,331
Summary of Financial Information of SunStream	The following table summarizes the financial information of SunStream: As at December 31, 2023 December 31, 2022 Current assets (including cash and cash equivalents - 2023: $ 0.3 million, 2022: $ 1.5 million) 2,675 5,437 Non-current assets 532,740 509,418 Current liabilities ( 1,096 ) ( 1,146 ) Net assets (liabilities) ( 100 %) 534,319 513,709 Year ended December 31 2023 2022 Revenue (loss) 14,098 ( 35,046 ) Profit (loss) from operations 7,348 ( 42,627 ) Other comprehensive income (loss) ( 12,771 ) 31,923 Total comprehensive income (loss) ( 5,177 ) ( 10,619 )

Goodwill (Tables)

Goodwill (Tables)	12 Months Ended
	Dec. 31, 2023
Goodwill [Abstact]
Schedule of Changes in Goodwill	Net book value Balance at December 31, 2021 72,496 Acquisitions through business combinations (note 5(a)) 150,935 Impairment ( 156,171 ) Balance at December 31, 2022 67,260 Acquisitions through business combinations (note 5(c)) 81,022 Impairment ( 29,000 ) Balance at December 31, 2023 119,282
Schedule of Impairment Testing Goodwill	For the purpose of impairment testing, goodwill has been allocated as follows: December 31, 2023 December 31, 2022 Liquor retail 24,338 24,338 Cannabis retail 38,624 38,624 Cannabis retail franchise group 4,298 4,298 Cannabis operations - Valens 52,022 — 119,282 67,260

Accounts Payable and Accrued _2

Accounts Payable and Accrued Liabilities (Tables)	12 Months Ended
	Dec. 31, 2023
Subclassifications of assets, liabilities and equities [abstract]
Summary of Accounts Payable and Accrued Liabilities	December 31, 2023 December 31, 2022 Trade payables 22,035 9,774 Accrued and other liabilities 46,175 38,379 68,210 48,153

Derivative Warrants (Tables)

Derivative Warrants (Tables)	12 Months Ended
	Dec. 31, 2023
Derivative Warrant Liabilities [Abstract]
Summary of Derivative Warrants	December 31, 2023 December 31, 2022 Balance, beginning of year 11,002 21,700 Change in fair value recognized in profit or loss ( 6,602 ) ( 10,783 ) Acquisition — 85 Balance, end of year 4,400 11,002
Summary of Outstanding Derivative Warrants	The following table summarizes outstanding derivative warrants as at December 31, 2023: Exercise price (US$) Number of warrants Weighted average contractual life 2020 Series A Warrants (1) 1.77 50,000 1.6 Unsecured Convertible Notes Warrants (1) 1.77 50,000 0.0 New Warrants (2) 2.29 9,833,333 0.6 9,933,333 0.6 (1) The conversion or exercise price, as applicable, is subject to full ratchet antidilution protection upon any subsequent transaction at a price lower than the price then in effect and standard adjustments in the event of any share split, share dividend, share combination, recapitalization or other similar transaction. If the Company issues, sells or enters into any agreement to issue or sell, any variable rate securities, the investors have the additional right to substitute the variable price (or formula) of such securities for the conversion or exercise price, as applicable. (2) The exercise price of the New Warrants was adjusted from US$ 15.00 to US$ 2.29 based on the July 26, 2022 Share Consolidation (as defined below) representing a share combination event (note 26(a) ).

Lease Liabilities (Tables)

Lease Liabilities (Tables)	12 Months Ended
	Dec. 31, 2023
Lease liabilities [abstract]
Summary of Lease Liabilities	December 31, 2023 December 31, 2022 Balance, beginning of year 169,831 33,470 Acquisitions (note 5) 4,336 142,106 Additions 4,362 7,497 Lease payments ( 45,017 ) ( 31,834 ) Renewals, remeasurements and dispositions 25,505 10,890 Tenant inducement allowances received 91 1,799 Accretion expense 7,921 5,903 Balance, end of year 167,029 169,831 Current portion 30,537 30,206 Long-term 136,492 139,625
Summary of Minimum Lease Payments	The following table presents the contractual undiscounted cash flows, excluding periods covered by lessee lease extension options that have been included in the determination of the lease term, related to the Company’s lease liabilities as at December 31, 2023: December 31, 2023 Less than one year 41,743 One to three years 69,660 Three to five years 51,372 Thereafter 35,719 Minimum lease payments 198,494

Other Liabilities (Tables)

Other Liabilities (Tables)	12 Months Ended
	Dec. 31, 2023
Disclosure Of Other Liabilities [Abstract]
Schedule Of Other Liabilities	December 31, 2023 December 31, 2022 Financial guarantee liability (A) 268 407 Deferred share units liability (B) 3,917 2,302 4,185 2,709

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2023
Major components of tax expense (income) [abstract]
Summary of Income Tax Expense (Recovery)	The following table reconciles the expected income tax expense (recovery) at the Canadian federal and provincial statutory income tax rates to the amounts recognized in profit and loss for the years ended December 31, 2023 and December 31, 2022: December 31, 2023 December 31, 2022 Loss before taxes ( 172,016 ) ( 379,770 ) Statutory income tax rates 23.0 % 23.0 % Expected income tax recovery ( 39,564 ) ( 87,347 ) Non-deductible share-based compensation 4,954 2,508 Revaluation of the fair value of warrant liabilities — ( 2,461 ) Non-controlling interest 1,118 8,167 Non-deductible portion of capital losses 1,107 7,458 Other ( 2,937 ) 5,409 Goodwill impairment — 35,919 Deferred tax benefits not recognized 35,322 23,005 Income tax (recovery) expense — ( 7,342 )
Summary of Deferred Tax Assets (Liabilities)	Details of the deferred tax assets (liabilities) are as follows: December 31, 2023 December 31, 2022 Deferred tax assets (liabilities): Property, plant and equipment ( 4,148 ) — Inventory 29,835 23,329 Biological assets ( 8,093 ) ( 9,451 ) Net investment in subleases ( 4,914 ) ( 5,363 ) Intangible assets ( 16,230 ) ( 16,632 ) Lease liabilities 465 ( 5,488 ) Marketable securities 3,159 14,981 Fair value of derivatives ( 83 ) — Equity-accounted investee 9 ( 1,376 ) Net deferred tax asset (liability) — —
Summary of Unrecognized Deductible Temporary Differences	Deferred tax assets have not been recognized for the following deductible temporary differences: December 31, 2023 December 31, 2022 Unrecognized deductible temporary differences: Property, plant and equipment — 7,413 Intangible assets 183 183 Share issue costs 24,691 28,926 Investments 18,748 18,239 Lease liabilities 165,252 193,691 Financial obligations and other 3,917 2,300 Non-capital losses & scientific research and experimental development 986,422 490,326 Unrecognized deductible temporary differences 1,199,213 741,078
Summary of Movement in Deferred Income Tax Liability	The movement in deferred income tax liability is as follows: December 31, 2023 December 31, 2022 Balance, beginning of year — — Recognized in profit and loss — ( 7,342 ) Recognized in other comprehensive income — 7,342 Balance, end of year — —

Share Capital and Warrants (Tab

Share Capital and Warrants (Tables)	12 Months Ended
	Dec. 31, 2023
Share Capital And Warrants [Abstract]
Summary of Issued and Outstanding	B) Issued and outstanding December 31, 2023 December 31, 2022 Note Number of Carrying Number of Carrying Balance, beginning of year 235,194,236 2,292,810 206,040,836 2,035,704 Share issuances 931,740 1,900 370,179 2,870 Share repurchases ( 546,700 ) ( 5,344 ) ( 4,252,489 ) ( 41,617 ) Acquisitions 5 27,605,782 83,953 32,060,135 287,129 Shares acquired and cancelled ( 2,261,778 ) ( 6,879 ) — — Employee awards exercised 1,852,573 9,510 975,575 8,724 Balance, end of year 262,775,853 2,375,950 235,194,236 2,292,810 (1) Included in employee awards exercised are 50,000 RSUs that vested and were exercised in December 2021; however, the common shares were not issued until January 2022.
Summary of Common Share Purchase Warrants	(C) Common share purchase warrants Number of Warrants Carrying Amount Balance at December 31, 2021 356,612 8,092 Warrants expired ( 48,000 ) ( 5,832 ) Balance at December 31, 2022 308,612 2,260 Balance at December 31, 2023 308,612 2,260
Summary of Outstanding Warrants	The following table summarizes outstanding warrants as at December 31, 2023: Warrants outstanding and exercisable Issued in relation to Weighted average exercise price Number of warrants Weighted average Financial services 45.98 54,400 5.6 Acquired from Inner Spirit (1) 3.37 190,212 0.2 Sun 8 9.40 64,000 2.0 $ 12.13 308,612 1.5 (1) Inner Spirit warrants are exchangeable for 0.00835 SNDL common shares in accordance with the Inner Spirit transaction consideration and have been presented based on the number of SNDL common shares that are issuable.

Share-based Compensation (Table

Share-based Compensation (Tables)	12 Months Ended
	Dec. 31, 2023
Disclosure of terms and conditions of share-based payment arrangement [abstract]
Components of Share-based Compensation Expense	The components of share-based compensation expense are as follows: Year ended 2023 2022 Equity-settled expense Simple warrants (A) ( 332 ) 1,299 Stock options (B) ( 1 ) 78 Restricted share units (1) (C) 13,350 9,423 Cash-settled expense Deferred share units (1)(2) (D) 2,383 ( 1,129 ) 15,400 9,671 (1) For the year ended December 31, 2023, the Company recognized share-based compensation expense under Nova’s RSU plan of $ 34 (2022 — recovery of $ 107 ) and share-based compensation expense under Nova’s DSU plan of $ 768 (2022 — $ 404 ) . (2) Cash-settled DSUs are accounted for as a liability and are measured at fair value based on the market value of the Company’s common shares at each reporting period. Fluctuations in the fair value are recognized during the period in which they occur.
Summary of Changes in Simple and Performance Warrants	The following table summarizes changes in the simple and performance warrants during the year ended December 31, 2023 and the year ended December 31, 2022: Simple Weighted Performance Weighted Balance at December 31, 2021 259,420 $ 48.60 138,720 $ 41.77 Forfeited ( 82,400 ) 57.77 ( 15,520 ) 37.86 Expired ( 11,200 ) 6.25 — 0.00 Balance at December 31, 2022 165,820 $ 46.91 123,200 $ 42.26 Forfeited ( 74,640 ) 63.86 ( 52,800 ) 54.55 Expired ( 24,480 ) 14.68 ( 16,000 ) 14.07 Balance at December 31, 2023 66,700 $ 39.77 54,400 $ 38.62
Summarizes Outstanding Simple and Performance Warrants	The following table summarizes outstanding simple and performance warrants as at December 31, 2023: Warrants outstanding Warrants exercisable Range of exercise prices Number of Weighted Weighted Number of Weighted Weighted Simple warrants $6.25 - $9.38 36,300 7.63 0.86 36,300 7.63 0.86 $29.69 - $45.31 7,200 34.90 1.82 7,200 34.90 1.82 $62.50 - $93.75 17,280 64.81 2.98 17,280 64.81 2.98 $125.00 - $312.50 5,920 169.62 3.92 4,640 156.07 3.61 66,700 $ 39.77 1.79 65,420 $ 36.26 1.72 Performance warrants $6.25 - $9.38 19,200 6.25 1.19 19,200 6.25 1.19 $29.69 - $45.31 23,200 32.60 1.27 23,200 32.60 1.27 $62.50 - $93.75 9,334 77.68 n/a 1,334 93.75 2.16 $125.00 - $218.75 2,666 187.50 n/a — — n/a 54,400 $ 38.62 n/a 43,734 $ 22.90 1.26
Summary of Changes in Stock Options	The following table summarizes changes in stock options during the year ended December 31, 2023 and the year ended December 31, 2022: Stock options outstanding Weighted Balance at December 31, 2021 44,460 $ 13.28 Expired ( 100 ) 31.50 Balance at December 31, 2022 44,360 $ 13.24 Acquired (note 5(c)) 1,317,837 17.63 Forfeited ( 424,027 ) 17.21 Expired ( 84,465 ) 14.44 Balance at December 31, 2023 853,705 $ 17.92
Summary of Outstanding Stock Options	The following table summarizes outstanding stock options as at December 31, 2023: Stock options outstanding Stock options exercisable Exercise prices Number of Weighted Number of Weighted $11.50 10,000 6.41 10,000 6.41 $11.90 8,160 6.49 8,160 6.49 $31.50 3,000 4.73 2,700 4.65 $11.79 - $38.88 (Legacy Valens) 832,545 2.36 832,545 2.36 853,705 2.46 853,405 2.45
Summary of Changes in Restricted Share Units	The following table summarizes changes in RSUs during the year ended December 31, 2023 and the year ended December 31, 2022: RSUs Balance at December 31, 2021 753,593 Granted 1,728,557 Forfeited ( 175,245 ) Exercised ( 925,575 ) Balance at December 31, 2022 1,381,330 Granted 10,259,228 Forfeited ( 1,158,279 ) Exercised ( 1,852,573 ) Balance at December 31, 2023 8,629,706
Summary of Changes in Deferred Share Units	The following table summarizes changes in DSUs during the year ended December 31, 2023 and the year ended December 31, 2022: DSUs Balance at December 31, 2021 551,250 Granted 1,216,076 Exercised ( 58,943 ) Balance at December 31, 2022 1,708,383 Granted 689,950 Balance at December 31, 2023 2,398,333

Gross Revenue (Tables)

Gross Revenue (Tables)	12 Months Ended
	Dec. 31, 2023
Revenue [abstract]
Disaggregation of Revenue from Contracts with Customers	Liquor retail revenue is derived from the sale of wines, beers and spirits to customers. Cannabis retail revenue is derived from retail cannabis sales to customers, franchise revenue consisting of royalty and franchise fee revenue, and other revenue consisting of millwork, supply and accessories revenue and proprietary licensing. Cannabis operations revenue is derived from contracts with customers and is comprised of sales to provincial boards that sell cannabis through their respective distribution models, sales to licensed producers for further processing, provision of proprietary cannabis processing services, product development, manufacturing and commercialization of cannabis consumer products and sales to medical customers. Year ended 2023 2022 Liquor retail revenue 578,895 462,180 Cannabis retail revenue Retail 270,454 192,710 Franchise 7,100 8,337 Other 12,426 4,563 Cannabis retail revenue 289,980 205,610 Cannabis operations revenue Provincial boards 71,894 58,728 Medical 24 9 Wholesale 15,682 3,167 Analytical testing 1,250 — Cannabis operations revenue 88,850 61,904 Gross revenue 957,725 729,694
Summary of Receivables from Contracts with Customers	The Company has recognized the following receivables from contracts with customers: December 31, 2023 December 31, 2022 Receivables, included in 'trade receivables' (note 10) 23,422 17,558

Investment Revenue (Loss) (Tabl

Investment Revenue (Loss) (Tables)	12 Months Ended
	Dec. 31, 2023
Investment Revenue [Abstract]
Summary of Interest and Fee Revenue	Year ended 2023 2022 Interest and fee revenue Interest revenue from investments at amortized cost 3,781 3,660 Interest and fee revenue from investments at FVTPL 1,374 6,036 Interest revenue from cash 9,362 7,043 14,517 16,739
Summary of Investment Loss	Year ended 2023 2022 Investment loss ( 9,258 ) ( 65,164 )

Other Operating Expenses (Table

Other Operating Expenses (Tables)	12 Months Ended
	Dec. 31, 2023
Expenses by nature [abstract]
Summary of General and Administrative Expense	A) General and administrative Year ended 2023 2022 Salaries and wages 114,684 80,134 Consulting fees 4,320 1,934 Office and general 51,191 37,061 Professional fees 14,620 11,563 Merchant processing fees 6,332 4,748 Director fees 550 472 Other 8,028 4,256 199,725 140,168
Summary of Sales and Marketing Expense	B) Sales and marketing Year ended 2023 2022 Marketing 13,599 7,308 Events 114 102 Media 1,332 1,007 15,045 8,417

Finance Costs (Tables)

Finance Costs (Tables)	12 Months Ended
	Dec. 31, 2023
Disclosure Of Finance Cost [Abstract]
Summary of Finance Costs	Year ended 2023 2022 Cash finance expense Other finance costs 81 178 81 178 Non-cash finance expense (income) Change in fair value of investments at FVTPL 3,317 36,087 Accretion on lease liabilities 7,921 5,903 Financial guarantee liability recovery ( 139 ) ( 59 ) Other 1,039 89 12,138 42,020 Interest income ( 857 ) ( 884 ) 11,362 41,314

Supplemental Cash Flow Disclo_2

Supplemental Cash Flow Disclosures (Tables)	12 Months Ended
	Dec. 31, 2023
Supplemental Cash Flow Disclosure [Abstract]
Summary of Changes in Non-cash Working Capital	Year ended 2023 2022 Cash provided by (used in): Accounts receivable 15,096 ( 5,815 ) Biological assets ( 4,888 ) 533 Inventory ( 17,411 ) 4,243 Prepaid expenses and deposits ( 3,515 ) 5,782 Assets held for sale 2,081 — Investments 692 918 Right of use assets ( 3,450 ) ( 17,510 ) Property, plant and equipment ( 97 ) 38 Accounts payable and accrued liabilities ( 20,809 ) ( 27,864 ) Lease liabilities 3,496 19,296 ( 28,805 ) ( 20,379 ) Changes in non-cash working capital relating to: Operating ( 32,875 ) ( 22,073 ) Investing 4,028 74 Financing 42 1,620 ( 28,805 ) ( 20,379 )

Loss Per Share (Tables)

Loss Per Share (Tables)	12 Months Ended
	Dec. 31, 2023
Earnings per share [abstract]
Summary of Loss Per Share	Year ended 2023 2022 Weighted average shares outstanding (000s) Basic and diluted (1) 259,371 229,871 Continuing operations Net loss attributable to owners of the Company ( 168,125 ) ( 335,114 ) Per share - basic and diluted $ ( 0.65 ) $ ( 1.46 ) Discontinued operations Net loss attributable to owners of the Company ( 4,535 ) — Per share - basic and diluted $ ( 0.02 ) $ — Net loss attributable to owners of the Company ( 172,660 ) ( 335,114 ) Per share - basic and diluted $ ( 0.67 ) $ ( 1.46 ) (1) For the year ended December 31, 2023, there were 0.3 million equity classified warrants, 9.9 million derivative warrants, 0.1 million simple warrants, 0.1 million performance warrants, 0.9 million stock options and 8.6 million RSUs that were excluded from the calculation as the impact was anti-dilutive (year ended December 31, 2022 – 0.3 million equity classified warrants, 10.1 million derivative warrants, 0.2 million simple warrants, 0.1 million performance warrants, 0.04 million stock options and 1.4 million RSUs).

Financial Instruments (Tables)

Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2023
Disclosure of detailed information about financial instruments [abstract]
Fair value measurements of marketable securities, investments at FVTPL and derivative warrants	Fair value measurements of marketable securities, investments at FVTPL and derivative warrants are as follows: Fair value measurements using December 31, 2023 Carrying Level 1 Level 2 Level 3 Recurring measurements: Financial assets Marketable securities 225 225 — — Investments at FVTPL 8,655 — — 8,655 Financial liabilities Derivative warrants (1) 4,400 — — 4,400 Fair value measurements using December 31, 2022 Carrying Level 1 Level 2 Level 3 Recurring measurements: Financial assets Marketable securities 21,926 21,926 — — Investments at FVTPL 72,761 — — 72,761 Financial liabilities Derivative warrants (1) 11,002 — — 11,002 (1) The carrying amount is an estimate of the fair value of the derivative warrants and is presented as a current liability. The Company has no cash obligation with respect to the derivative warrants, rather it will deliver common shares if and when warrants are exercised.
Summary of Impairment Losses on Accounts Receivable Recognized in Profit or Loss	Impairment losses on accounts receivable recognized in profit or loss were as follows: As at December 31, 2023 December 31, 2022 Impairment loss on trade receivables 10,383 642 Impairment loss (reversal) on other receivables ( 31 ) 674 10,352 1,316
Summary of Movement in Allowance for Impairment in Respect of Accounts Receivable	The movement in the allowance for impairment in respect of accounts receivable during the year ended December 31, 2023 was as follows: December 31, 2023 December 31, 2022 Balance, beginning of year 2,448 1,132 Net remeasurement of impairment loss allowance 10,352 1,316 Balance, end of year 12,800 2,448
Timing of Expected Cash Outflows Relating to Financial Liabilities	The timing of expected cash outflows relating to financial liabilities at December 31, 2023 is as follows: Less than One to three Three to five Thereafter Total Accounts payable and accrued liabilities 68,210 — — — 68,210 Financial guarantee liability — 268 — — 268 Balance, end of year 68,210 268 — — 68,478

Related Party Transactions (Tab

Related Party Transactions (Tables)	12 Months Ended
	Dec. 31, 2023
Related party transactions [abstract]
Compensation of Key Management Personnel	Compensation of key management personnel The Company considers directors and officers of the Company as key management personnel. Year ended 2023 2022 Salaries and short-term benefits 7,255 4,505 Share-based compensation 9,237 5,871 16,492 10,376

Non-Controlling Interests (Tabl

Non-Controlling Interests (Tables)	12 Months Ended
	Dec. 31, 2023
Disclosure of Non Controlling Interests [Abstract]
Summary of detailed information about non material non-controlling interests	The Company does have subsidiaries with non-material non-controlling interests that are not presented in the following financial information. A) Nova summarized statement of financial position 2023 2022 Current assets 36,734 18,732 Current liabilities 29,690 19,892 Current net assets 7,044 ( 1,160 ) Non-current assets 87,665 94,419 Non-current liabilities 43,564 45,443 Non-current net assets 44,101 48,976 Net assets 51,145 47,816 B) Nova summarized statement of loss and comprehensive loss 2023 2022 Revenue 259,325 176,588 Earnings (loss) and comprehensive income (loss) 3,327 ( 7,672 ) C) Nova summarized statement of cash flows 2023 2022 Net cash provided by operating activities 11,721 5,848 Net cash used in investing activities ( 2,330 ) ( 5,549 ) Net cash used in financing activities ( 611 ) ( 183 ) Increase in cash 8,780 116

Significant Accounting Polici_4

Significant Accounting Policies - Additional Information (Details) - CAD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disclosure Of Significant Accounting Policies [Line Items]
Depreciation method, property, plant and equipment	straight-line method
Onerous contracts provision	$ 0	$ 0
Gain loss on conversion of financial liability reclassified to equity	0
Development costs capitalized	$ 0	$ 0
Sun 8 Holdings Inc
Disclosure Of Significant Accounting Policies [Line Items]
Estimated useful life of intangible assets	15 years
Top of Range
Disclosure Of Significant Accounting Policies [Line Items]
Cash and cash equivalents maturities period	90 days

Significant Accounting Polici_5

Significant Accounting Policies - Schedule of Estimated Useful Lives (Details)	12 Months Ended
	Dec. 31, 2023
Production Facilities
Disclosure Of Significant Accounting Policies [Line Items]
Estimated useful life of property plant and equipment	20 years
Equipment | Bottom of Range
Disclosure Of Significant Accounting Policies [Line Items]
Estimated useful life of property plant and equipment	1 year
Equipment | Top of Range
Disclosure Of Significant Accounting Policies [Line Items]
Estimated useful life of property plant and equipment	10 years
Right of Use Assets and Leasehold Improvements
Disclosure Of Significant Accounting Policies [Line Items]
Estimated useful life of property plant and equipment	Shorter of estimated useful life or lease term

Business Acquisitions - Additio

Business Acquisitions - Additional Information (Details)

1 Months Ended

2 Months Ended

3 Months Ended

9 Months Ended

10 Months Ended

11 Months Ended

12 Months Ended

Jan. 17, 2023 CAD ($) shares

Mar. 31, 2022 CAD ($) shares $ / shares

Jun. 20, 2021

Feb. 07, 2023 CAD ($)

Jan. 17, 2023 CAD ($) shares

Dec. 31, 2022 CAD ($)

Mar. 30, 2022 CAD ($)

Dec. 31, 2022 CAD ($)

Oct. 31, 2022 CAD ($)

Dec. 31, 2023 CAD ($)

Dec. 31, 2023 CAD ($)

Dec. 31, 2023 CAD ($)

Dec. 31, 2022 CAD ($)

Jul. 20, 2021 CAD ($) shares

Inner Spirit

Disclosure Of Business Combinations [Line Items]

Business combination, Transaction end date

Jul. 20, 2021

Cash consideration

$ 92,583,000

Cash transferred for each ordinary shares of acquire

$ 0.3

Issuance of common shares | shares

2,400,000

Issuance of common shares, value

$ 26,216,000

Number of instruments or interests issued or issuable for each ordinary shares of acquire | shares

0.00835

Contingent consideration

$ 1,150,000

Alcanna

Disclosure Of Business Combinations [Line Items]

Business Combination Transaction Initiated Date

Jan. 06, 2022

Business combination, Transaction end date

Mar. 31, 2022

Description of acquiree

Alcanna is a Canadian liquor retailer, operating predominantly in Alberta under its three retail brands, “Wine and Beyond”, “Liquor Depot” and “Ace Liquor”.

Cash consideration

$ 54,339,000

Cash transferred for each ordinary shares of acquire

$ 1.5

Issuance of common shares | shares

32,100,000

Issuance of common shares, value

$ 287,129,000

Number of instruments or interests issued or issuable for each ordinary shares of acquire | shares

0.885

Revenue

$ 639,500,000

Net earnings (loss)

$ 101,000,000

Revenue increased amount

$ 162,500,000

Net income (loss)

$ (25,500,000)

Acquisition-related costs for business transaction

$ 7,000,000

Percentage of fair value of non-controlling

37%

Share price transaction | $ / shares

$ 2.66

Payment of acquired long-term debt

$ 10,000,000

Zenabis

Disclosure Of Business Combinations [Line Items]

Revenue

$ 400,000

Net earnings (loss)

$ 1,800,000

Revenue increased amount

$ 2,000,000

Net income (loss)

$ 9,000,000

Acquisition-related costs for business transaction

$ 800,000

Valens

Disclosure Of Business Combinations [Line Items]

Issuance of common shares | shares

27,600,000

27,600,000

Issuance of common shares, value

$ 83,953,000

$ 83,953,000

Number of instruments or interests issued or issuable for each ordinary shares of acquire | shares

0.3334

0.3334

Contingent consideration

$ 602,000

$ 602,000

Revenue

$ 99,100,000

Net earnings (loss)

$ 85,800,000

Revenue increased amount

4,200,000

Net income (loss)

2,100,000

Acquisition-related costs for business transaction

$ 2,800,000

Non-revolving term loan facility

60,000,000

60,000,000

Valens | Valens Stock Option

Disclosure Of Business Combinations [Line Items]

Contingent consideration

$ 600,000

$ 600,000

Superette

Disclosure Of Business Combinations [Line Items]

Revenue

$ 3,800,000

Net earnings (loss)

$ 2,000,000

Revenue increased amount

$ 500,000

Net income (loss)

$ 100,000

Acquisition-related costs for business transaction

$ 700,000

Nova | Alcanna

Disclosure Of Business Combinations [Line Items]

Percentage of equity interest

63%

Business Acquisitions - Summary

Business Acquisitions - Summary of Purchase Price Allocated (Details) - CAD ($) $ in Thousands	Feb. 07, 2023	Jan. 17, 2023	Nov. 01, 2022	Mar. 31, 2022	Jul. 20, 2021
Alcanna
Disclosure of detailed information about business combination [line items]
Cash				$ 54,339
Issuance of common shares				287,129
Total Purchase Price				341,468
Zenabis
Disclosure of detailed information about business combination [line items]
Extinguishment of senior loan			$ 18,215
Total Purchase Price			$ 18,215
Valens
Disclosure of detailed information about business combination [line items]
Issuance of common shares		$ 83,953
Valens loan facility		61,512
Contingent consideration		602
Total Purchase Price		146,067
Superetta
Disclosure of detailed information about business combination [line items]
Extinguishment of senior loan	$ 2,625
Total Purchase Price	$ 2,625
Inner Spirit
Disclosure of detailed information about business combination [line items]
Cash					$ 92,583
Issuance of common shares					26,216
Contingent consideration					1,150
Total Purchase Price					119,949
Previously Reported | Alcanna
Disclosure of detailed information about business combination [line items]
Cash				54,339
Issuance of common shares				287,129
Total Purchase Price				$ 341,468
Previously Reported | Valens
Disclosure of detailed information about business combination [line items]
Issuance of common shares		83,953
Valens loan facility		61,512
Total Purchase Price		145,465
Previously Reported | Inner Spirit
Disclosure of detailed information about business combination [line items]
Cash					92,583
Issuance of common shares					26,216
Contingent consideration					1,150
Total Purchase Price					$ 119,949
Adjustments | Valens
Disclosure of detailed information about business combination [line items]
Contingent consideration		602
Total Purchase Price		$ 602

Business Acquisitions - Summa_2

Business Acquisitions - Summary of Fair Value of the Assets and Liabilities Acquired (Details) - CAD ($) $ in Thousands	Dec. 31, 2023	Feb. 07, 2023	Jan. 17, 2023	Dec. 31, 2022	Nov. 01, 2022	Mar. 31, 2022	Dec. 31, 2021	Jul. 20, 2021
Disclosure Of Business Combinations [Line Items]
Net investment in subleases	$ 21,366			$ 23,319			$ 26,562
Alcanna
Disclosure Of Business Combinations [Line Items]
Cash						$ 23,190
Accounts receivable						1,868
Prepaid expenses and deposits						10,986
Inventory						105,022
Right of use assets						140,749
Property, plant and equipment						110,691
Intangible assets						45,100
Goodwill						150,935
Accounts payable and accrued liabilities						(36,747)
Long-term debt						(10,000)
Lease liabilities						(142,019)
Derivative warrants						(85)
Non-controlling interest						(58,222)
Total Purchase Price						341,468
Alcanna | Previously Reported
Disclosure Of Business Combinations [Line Items]
Cash						23,190
Accounts receivable						1,868
Prepaid expenses and deposits						10,986
Inventory						105,022
Right of use assets						171,866
Property, plant and equipment						86,059
Goodwill						280,243
Accounts payable and accrued liabilities						(36,703)
Long-term debt						(10,000)
Lease liabilities						(232,755)
Derivative warrants						(58)
Non-controlling interest						(58,250)
Total Purchase Price						341,468
Alcanna | Adjustments
Disclosure Of Business Combinations [Line Items]
Right of use assets						(31,117)
Property, plant and equipment						24,632
Intangible assets						45,100
Goodwill						(129,308)
Accounts payable and accrued liabilities						(44)
Lease liabilities						90,736
Derivative warrants						(27)
Non-controlling interest						$ 28
Zenabis
Disclosure Of Business Combinations [Line Items]
Cash					$ 2,509
Accounts receivable					888
Biological assets					909
Prepaid expenses and deposits					1,856
Inventory					4,512
Assets held for sale					6,375
Right of use assets					32
Property, plant and equipment					4,658
Accounts payable and accrued liabilities					(3,437)
Lease liabilities					(87)
Total Purchase Price					$ 18,215
Valens
Disclosure Of Business Combinations [Line Items]
Cash			$ 3,615
Accounts receivable			21,361
Marketable securities			876
Prepaid expenses and deposits			4,980
Inventory			14,140
Assets held for sale			6,330
Right of use assets			2,882
Property, plant and equipment			52,092
Intangible assets			1,500
Goodwill			81,022
Accounts payable and accrued liabilities			(34,185)
Contractual obligation			(5,339)
Lease liabilities			(3,207)
Total Purchase Price			146,067
Valens | Previously Reported
Disclosure Of Business Combinations [Line Items]
Cash			3,615
Accounts receivable			21,361
Marketable securities			876
Prepaid expenses and deposits			4,980
Inventory			14,140
Assets held for sale			6,330
Right of use assets			2,882
Property, plant and equipment			63,030
Intangible assets			2,285
Goodwill			68,697
Accounts payable and accrued liabilities			(34,185)
Contractual obligation			(5,339)
Lease liabilities			(3,207)
Total Purchase Price			145,465
Valens | Adjustments
Disclosure Of Business Combinations [Line Items]
Property, plant and equipment			(10,938)
Intangible assets			(785)
Goodwill			12,325
Total Purchase Price			$ 602
Superetta
Disclosure Of Business Combinations [Line Items]
Cash		$ 80
Accounts receivable		30
Prepaid expenses and deposits		141
Inventory		371
Right of use assets		1,129
Property, plant and equipment		2,077
Accounts payable and accrued liabilities		(74)
Lease liabilities		(1,129)
Total Purchase Price		$ 2,625
Inner Spirit
Disclosure Of Business Combinations [Line Items]
Cash								$ 9,808
Accounts receivable								423
Prepaid expenses and deposits								853
Inventory								4,744
Right of use assets								5,730
Property, plant and equipment								6,378
Intangible assets								46,000
Net investment in subleases								23,801
Goodwill								72,496
Accounts payable and accrued liabilities								(2,678)
Convertible debentures								(12,025)
Lease liabilities								(29,531)
Financial guarantee liability								(407)
Deferred tax liability								(5,643)
Total Purchase Price								119,949
Inner Spirit | Previously Reported
Disclosure Of Business Combinations [Line Items]
Cash								9,808
Accounts receivable								750
Prepaid expenses and deposits								853
Inventory								2,733
Property, plant and equipment								12,108
Net investment in subleases								23,751
Goodwill								114,537
Accounts payable and accrued liabilities								(2,678)
Convertible debentures								(12,025)
Lease liabilities								(29,481)
Financial guarantee liability								(407)
Total Purchase Price								119,949
Inner Spirit | Adjustments
Disclosure Of Business Combinations [Line Items]
Accounts receivable								(327)
Inventory								2,011
Right of use assets								5,730
Property, plant and equipment								(5,730)
Intangible assets								46,000
Net investment in subleases								50
Goodwill								(42,041)
Lease liabilities								(50)
Deferred tax liability								$ (5,643)

Discontinued Operations - Addit

Discontinued Operations - Additional Information (Details) - CAD ($) $ in Thousands		12 Months Ended
	May 31, 2023	Dec. 31, 2023
Discontinued Operations [Abstract]
Sale of discontinued operations		$ 3,100
Loss on disposition	$ 2,300	$ (4,535)

Discontinued Operations - Summa

Discontinued Operations - Summary Results of Discontinued Operations (Details) - CAD ($) $ in Thousands		12 Months Ended
	May 31, 2023	Dec. 31, 2023		Dec. 31, 2022
Disclosure of analysis of single amount of discontinued operations [line items]
Gross revenue		$ 957,725		$ 729,694
Net revenue		909,006	[1]	712,197
Cost of sales		689,338		558,089
Gross profit before fair value adjustments		189,024		147,096
Change in fair value of biological assets		(7,936)		(1,309)
Gross profit		190,415		140,375
General and administrative		199,725		140,168
Sales and marketing		15,045		8,417
Depreciation and amortization		60,216		40,945
Share-based compensation		15,400		9,671
Goodwill impairment		29,000		156,171
Operating loss		(162,818)		(347,774)
Transaction costs		(3,718)		(1,352)
Finance costs		11,362		41,314
Gain on disposition of PP&E		(353)		(94)
Loss on disposition	$ 2,300	(4,535)
Loss before income tax		(172,016)		(379,770)
Income tax recovery		0		(7,342)
Net loss		(176,551)		$ (372,428)
Discontinued Operations
Disclosure of analysis of single amount of discontinued operations [line items]
Net revenue		7,510
Cost of sales		3,841
Gross profit		3,669
General and administrative		3,639
Sales and marketing		1,817
Depreciation and amortization		450
Operating loss		(2,237)
Finance costs		(16)
Loss on disposition		(2,282)
Net loss		$ (4,535)
[1] The Company has eliminated $ 46.9 million of cannabis operations revenue and equal cost of sales associated with sales to provincial boards that are expected to be subsequently repurchased by the Company’s licensed retailer subsidiaries for resale, at which point the full retail sales revenue will be recognized. The elimination was recorded in the Corporate segment.

Segment Information - Additiona

Segment Information - Additional Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 CAD ($) Segment	Dec. 31, 2022 CAD ($)
Disclosure Of Operating Segments [Line Items]
Number of reportable segments | Segment	4
Equity-accounted investees	$ 538,331	$ 519,255
Share of profit (loss) of equity-accounted investees	$ 6,758	$ (43,002)
Liquor Retail | Operating segments [member]
Disclosure Of Operating Segments [Line Items]
Description of types of products and services from which each reportable segment derives its revenues	Liquor retail includes the sale of wines, beers and spirits through owned liquor stores.
Cannabis Retail | Operating segments [member]
Disclosure Of Operating Segments [Line Items]
Description of types of products and services from which each reportable segment derives its revenues	Cannabis retail includes the private sale of adult-use cannabis through owned and franchise retail cannabis stores.
Cannabis Operations | Operating segments [member]
Disclosure Of Operating Segments [Line Items]
Description of types of products and services from which each reportable segment derives its revenues	Cannabis operations include the cultivation, distribution and sale of cannabis for the adult-use and medical markets domestically and for export, and providing proprietary cannabis processing services, in addition to product development, manufacturing, and commercialization of cannabis consumer packaged goods.
Investments | Operating segments [member]
Disclosure Of Operating Segments [Line Items]
Description of types of products and services from which each reportable segment derives its revenues	Investments include the deployment of capital to investment opportunities.

Segment Information - Disclosur

Segment Information - Disclosure of Reportable Segments Explanatory (Details) - CAD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2023		Dec. 31, 2022
Disclosure Of Operating Segments [Line Items]
Total assets		$ 1,473,164		$ 1,559,350
Net revenue		909,006	[1]	712,197
Gross profit		190,415		140,375
Share of profit (loss) of equity-accounted investees		6,758		(43,002)
Depreciation and amortization		60,216		40,945
Operating income (loss)		(162,818)		(347,774)
Earnings (loss) before income tax		(172,016)		(379,770)
Operating segments [member] | Liquor Retail
Disclosure Of Operating Segments [Line Items]
Total assets		320,239		351,338	[2]
Net revenue		578,895	[1]	462,180	[2]
Gross profit		137,286		106,307	[2]
Operating income (loss)		24,630		20,619	[2]
Earnings (loss) before income tax		19,190		17,726	[2]
Operating segments [member] | Cannabis Retail
Disclosure Of Operating Segments [Line Items]
Total assets		206,988	[3]	200,393	[2]
Net revenue		289,980	[1],[3]	205,610	[2]
Gross profit		73,690	[3]	47,334	[2]
Operating income (loss)		4,919	[3]	(180,956)	[2]
Earnings (loss) before income tax		1,310	[3]	(183,055)	[2]
Operating segments [member] | Cannabis Operations
Disclosure Of Operating Segments [Line Items]
Total assets		208,295	[4]	163,130	[5]
Net revenue		87,071	[1],[4]	44,407	[5]
Gross profit		(20,561)	[4]	(13,266)	[5]
Operating income (loss)		(112,445)	[4]	(29,372)	[5]
Earnings (loss) before income tax		(112,159)	[4]	(29,618)	[5]
Operating segments [member] | Investments
Disclosure Of Operating Segments [Line Items]
Total assets		717,751	[6]	825,151	[7]
Operating income (loss)		11,746	[6]	(91,275)	[7]
Earnings (loss) before income tax		8,429	[6]	(127,362)	[7]
Corporate
Disclosure Of Operating Segments [Line Items]
Total assets		19,891		19,338
Net revenue	[1]	(46,940)
Operating income (loss)		(91,668)		(66,790)
Earnings (loss) before income tax		$ (88,786)		$ (57,461)
[1] The Company has eliminated $ 46.9 million of cannabis operations revenue and equal cost of sales associated with sales to provincial boards that are expected to be subsequently repurchased by the Company’s licensed retailer subsidiaries for resale, at which point the full retail sales revenue will be recognized. The elimination was recorded in the Corporate segment. Liquor retail includes operations of Alcanna retail stores for the period March 31, 2022 to December 31, 2022, and cannabis retail includes operations of Nova retail stores for the period March 31, 2022 to December 31, 2022 (note 5(a) ). Cannabis retail includes the operations of Superette for the period February 8, 2023 to December 31, 2023 (note 5(d) ). Cannabis operations includes the operations of Valens for the period January 18, 2023 to December 31, 2023 (note 5(c) ). Cannabis operations includes the operations of Zenabis for the period November 1, 2022 to December 31, 2022 (note 5(b) ). Total assets include cash and cash equivalents. Total assets include cash and cash equivalents.

Segment information - Disclos_2

Segment information - Disclosure of Reportable Segments Explanatory (Parenthetical) (Details) - CAD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2023		Dec. 31, 2022
Disclosure of operating segments [line items]
Revenue		$ 909,006	[1]	$ 712,197
Corporate
Disclosure of operating segments [line items]
Revenue	[1]	(46,940)
Cannabis Operations | Corporate | Provincial Boards
Disclosure of operating segments [line items]
Revenue		$ (46,900)
[1] The Company has eliminated $ 46.9 million of cannabis operations revenue and equal cost of sales associated with sales to provincial boards that are expected to be subsequently repurchased by the Company’s licensed retailer subsidiaries for resale, at which point the full retail sales revenue will be recognized. The elimination was recorded in the Corporate segment.

Restricted Cash - Summary of Di

Restricted Cash - Summary of Disclosure of Restricted Cash (Details) - CAD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Restricted Cash [Abstract]
Captive insurance	$ 19,616	$ 19,044
Other	275	294
Restricted cash and cash equivalents	$ 19,891	$ 19,338

Marketable Securities - Disclos

Marketable Securities - Disclosure of Marketable Securities (Details) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Marketable Securities Disclosure [Abstract]
Balance, beginning of year	$ 21,926	$ 83,724
Acquisition (note 5(c))	876	0
Additions	0	3,755
Dispositions	(13,319)	0
Change in fair value recognized in profit or loss	(9,258)	(65,553)
Balance, end of period	$ 225	$ 21,926

Marketable Securities - Additio

Marketable Securities - Additional Information (Details) - CAD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Marketable Securities Disclosure [Abstract]
Proceeds from disposition of marketable securities	$ 6,700,000	$ 0
Loss on disposition of marketable securities	$ 8,600,000	$ 0

Accounts Receivable - Summary o

Accounts Receivable - Summary of Accounts Receivable (Details) - CAD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Subclassifications of assets, liabilities and equities [abstract]
Trade receivables	$ 23,422	$ 17,558
Other receivables	3,637	5,078
Accounts receivable	$ 27,059	$ 22,636

Biological Assets - Summary of

Biological Assets - Summary of Change in Carrying Value of Biological Assets (Details) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Changes in biological assets [abstract]
Balance, beginning of year	$ 3,477	$ 4,410
Increase in biological assets due to capitalized costs	21,501	27,749
Acquisition	0	909
Net change in fair value of biological assets	(7,936)	(1,309)
Transferred to inventory upon harvest	(16,613)	(28,282)
Balance, end of year	$ 429	$ 3,477

Biological Assets - Additional

Biological Assets - Additional Information (Details) - kg	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Changes in biological assets [abstract]
Estimated biological assets to be harvested	2,230	3,904
Harvested biological assets	15,064	19,854

Inventory - Summary of Inventor

Inventory - Summary of Inventories (Details) - CAD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Disclosure Of Inventories [Line Items]
Inventory	$ 129,060	$ 127,782
Retail Liquor
Disclosure Of Inventories [Line Items]
Inventory	83,923	82,589
Retail Cannabis
Disclosure Of Inventories [Line Items]
Inventory	19,516	13,373
Millwork
Disclosure Of Inventories [Line Items]
Inventory	0	276
Harvested Cannabis
Disclosure Of Inventories [Line Items]
Raw materials, packaging and components	7,781	4,577
Extracted cannabis & hemp oils	11,989	0
Work-in-progress	995	19,927
Finished goods	$ 4,856	$ 7,040

Inventory - Additional Informat

Inventory - Additional Information (Details) - CAD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Classes of current inventories [abstract]
Inventories recognized as expense	$ 689.3	$ 558.1
Inventory write downs	30.8	8.9
Provision for impaired and obsolete inventory	30.6	7
Fair value component of excess and obsolete inventory provision	$ 0.2	$ 1.9

Assets Held for Sale - Summary

Assets Held for Sale - Summary of Assets Held For Sale Measured at Fair Value (Details) - CAD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Assets Held for Sale [Line Items]
Assets held for sale	$ 6,375	$ 6,375
Stellarton Facility
Assets Held for Sale [Line Items]
Assets held for sale	$ 6,375	$ 6,375

Assets held for sale - Addition

Assets held for sale - Additional Information (Details) $ in Millions	12 Months Ended
	Dec. 31, 2023 CAD ($)
Mission Facility
Assets Held for Sale [Line Items]
Gain on disposal of assets held for sale	$ 0.1

Right Of Use Assets - Schedule

Right Of Use Assets - Schedule of Right Of Use Assets (Details) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disclosure of quantitative information about right-of-use assets [line items]
Net book value	$ 143,409
Impairment	2,800	$ 12,800
Net book value	152,916	143,409
Cost
Disclosure of quantitative information about right-of-use assets [line items]
Net book value	325,388	208,499
Acquisition (note 5)	54,169	115,349
Additions	8,450	10,667
Net book value	384,846	325,388
Accumulated Depreciation and Impairment
Disclosure of quantitative information about right-of-use assets [line items]
Net book value	181,979	152,027
Depreciation	29,997	19,873
Impairment	21,446	15,209
Net book value	231,930	181,979
Right of Use Assets
Disclosure of quantitative information about right-of-use assets [line items]
Net book value	134,154
Impairment	3,900	6,400
Renewals, remeasurements and dispositions	24,400
Net book value	129,679	134,154
Right of Use Assets | Cost
Disclosure of quantitative information about right-of-use assets [line items]
Net book value	167,067	8,038
Acquisition (note 5)	4,011	140,781
Additions	3,530	6,103
Tenant inducement allowances		(46)
Dispositions and remeasurements		12,191
Renewals, remeasurements and dispositions	24,424
Net book value	199,032	167,067
Right of Use Assets | Accumulated Depreciation and Impairment
Disclosure of quantitative information about right-of-use assets [line items]
Net book value	32,913	1,321
Depreciation	32,640	25,227
Impairment	3,852	6,365
Dispositions	(52)
Net book value	$ 69,353	$ 32,913

Right Of Use Assets - Additiona

Right Of Use Assets - Additional Information (Details) - CAD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disclosure of quantitative information about right-of-use assets [line items]
Impairment losses of right of use assets	$ 2.8	$ 12.8
Right of Use Assets
Disclosure of quantitative information about right-of-use assets [line items]
Renewals, remeasurements and dispositions	24.4
Impairment losses of right of use assets	3.9	6.4
Cannabis Retail Reporting Segment
Disclosure of quantitative information about right-of-use assets [line items]
Impairment losses of right of use assets	2.4	5.3
Cannabis Retail Reporting Segment | Right of Use Assets
Disclosure of quantitative information about right-of-use assets [line items]
Impairment losses of right of use assets	2.7	3.9
Liquor Retail Reporting Segment
Disclosure of quantitative information about right-of-use assets [line items]
Impairment losses of right of use assets	0.4	7.5
Liquor Retail Reporting Segment | Right of Use Assets
Disclosure of quantitative information about right-of-use assets [line items]
Impairment losses of right of use assets	$ 1.2	$ 2.5

Property Plant and Equipment -

Property Plant and Equipment - Schedule of Property Plant and Equipment (Details) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disclosure Of Property Plant And Equipment [Line Items]
Net book value	$ 143,409
Impairment	2,800	$ 12,800
Net book value	152,916	143,409
Cost
Disclosure Of Property Plant And Equipment [Line Items]
Net book value	325,388	208,499
Acquisition (note 5)	54,169	115,349
Additions	8,450	10,667
Transfers from CIP	0
Dispositions	(3,161)	(9,127)
Net book value	384,846	325,388
Accumulated Depreciation and Impairment
Disclosure Of Property Plant And Equipment [Line Items]
Net book value	181,979	152,027
Depreciation	29,997	19,873
Impairment	21,446	15,209
Dispositions	(1,492)	(5,130)
Net book value	231,930	181,979
Land
Disclosure Of Property Plant And Equipment [Line Items]
Net book value	11,964
Net book value	20,625	11,964
Land | Cost
Disclosure Of Property Plant And Equipment [Line Items]
Net book value	11,964	12,388
Acquisition (note 5)	8,661	130
Additions	0	57
Transfers from CIP	0
Dispositions	0	(611)
Net book value	20,625	11,964
Land | Accumulated Depreciation and Impairment
Disclosure Of Property Plant And Equipment [Line Items]
Net book value	0	0
Depreciation	0	0
Impairment	0	0
Dispositions	0	0
Net book value	0	0
Production Facilities
Disclosure Of Property Plant And Equipment [Line Items]
Net book value	22,227
Net book value	34,064	22,227
Production Facilities | Cost
Disclosure Of Property Plant And Equipment [Line Items]
Net book value	154,234	153,332
Acquisition (note 5)	24,330	4,528
Additions	0	256
Transfers from CIP	882
Dispositions	38	(3,882)
Net book value	179,484	154,234
Production Facilities | Accumulated Depreciation and Impairment
Disclosure Of Property Plant And Equipment [Line Items]
Net book value	132,007	131,867
Depreciation	2,526	1,464
Impairment	10,825	0
Dispositions	62	(1,324)
Net book value	145,420	132,007
Leasehold Improvements
Disclosure Of Property Plant And Equipment [Line Items]
Net book value	55,445
Impairment	1,700
Net book value	48,451	55,445
Leasehold Improvements | Cost
Disclosure Of Property Plant And Equipment [Line Items]
Net book value	70,814	3,899
Acquisition (note 5)	3,660	64,059
Additions	2,739	3,465
Transfers from CIP	0
Dispositions	(314)	(609)
Net book value	76,899	70,814
Leasehold Improvements | Accumulated Depreciation and Impairment
Disclosure Of Property Plant And Equipment [Line Items]
Net book value	15,369	411
Depreciation	11,675	7,131
Impairment	1,697	7,794
Dispositions	(293)	(610)
Net book value	28,448	15,369
Equipment
Disclosure Of Property Plant And Equipment [Line Items]
Net book value	50,140
Impairment	1,100
Net book value	46,923	50,140
Equipment | Cost
Disclosure Of Property Plant And Equipment [Line Items]
Net book value	78,922	32,777
Acquisition (note 5)	17,518	44,263
Additions	5,609	5,907
Transfers from CIP	0
Dispositions	(2,885)	(4,025)
Net book value	99,164	78,922
Equipment | Accumulated Depreciation and Impairment
Disclosure Of Property Plant And Equipment [Line Items]
Net book value	28,782	13,928
Depreciation	15,796	11,278
Impairment	8,924	7,415
Dispositions	(1,261)	(3,196)
Net book value	52,241	28,782
Construction in Progress
Disclosure Of Property Plant And Equipment [Line Items]
Net book value	3,633
Net book value	2,853	3,633
Construction in Progress | Cost
Disclosure Of Property Plant And Equipment [Line Items]
Net book value	9,454	6,103
Acquisition (note 5)	0	2,369
Additions	102	982
Transfers from CIP	(882)
Dispositions	0	0
Net book value	8,674	9,454
Construction in Progress | Accumulated Depreciation and Impairment
Disclosure Of Property Plant And Equipment [Line Items]
Net book value	5,821	5,821
Depreciation	0	0
Impairment	0	0
Dispositions	0	0
Net book value	$ 5,821	$ 5,821

Property Plant and Equipment _2

Property Plant and Equipment - Additional Information (Details) - CAD ($) $ in Millions	1 Months Ended	12 Months Ended
	Oct. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Disclosure of detailed information about property, plant and equipment [line items]
Depreciation, capitalized to biological assets and inventory		$ 4.7	$ 6.4
Impairment		2.8	12.8
Cannabis Retail Reporting Segment
Disclosure of detailed information about property, plant and equipment [line items]
Impairment		2.4	5.3
Liquor Retail Reporting Segment
Disclosure of detailed information about property, plant and equipment [line items]
Impairment		$ 0.4	7.5
Weighted Average Cost of Capital
Disclosure of detailed information about property, plant and equipment [line items]
Estimated pre-tax discount rate		12%
Idle Machinery and Equipment | Cannabis Retail Reporting Segment
Disclosure of detailed information about property, plant and equipment [line items]
Impairment		$ 3	2.4
Leasehold improvements [member]
Disclosure of detailed information about property, plant and equipment [line items]
Impairment		1.7
Office equipment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Impairment		$ 1.1
Merritt Facility
Disclosure of detailed information about property, plant and equipment [line items]
Proceeds from disposition			3.5
Fair value less costs of disposal and impairment			0.5
Rocky View Facility
Disclosure of detailed information about property, plant and equipment [line items]
Proceeds from disposition			$ 3.9
Olds Facility
Disclosure of detailed information about property, plant and equipment [line items]
Estimated recoverable amount	$ 18.7
Olds Facility | Cannabis Operations
Disclosure of detailed information about property, plant and equipment [line items]
Impairment	$ 15.6

Net Investment In Subleases - S

Net Investment In Subleases - Summary of Net Investment in Subleases (Details) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disclosure Of Net Investment In Subleases [Abstract]
Balance, beginning of year	$ 23,319	$ 26,562
Additions	832	1,408
Finance income	857	833
Rents recovered (payments made directly to landlords)	(4,004)	(4,141)
Dispositions and remeasurements	362	(1,343)
Balance, end of year	21,366	23,319
Current portion	2,970	3,701
Long-term	$ 18,396	$ 19,618

Intangible Assets - Summary of

Intangible Assets - Summary of Reconciliation of Changes in Intangible Assets and Goodwill (Details) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disclosure Of Intangible Assets [Line Items]
Beginning Balance	$ 74,885
Ending Balance	73,149	$ 74,885
Cost
Disclosure Of Intangible Assets [Line Items]
Beginning Balance	96,692	51,445
Acquisition	1,500	45,100
Additions	87	197
Dispositions	(73)	(50)
Ending Balance	98,206	96,692
Accumulated Amortization
Disclosure Of Intangible Assets [Line Items]
Beginning Balance	21,807	1,297
Amortization	2,333	2,222
Impairment	935	18,288
Dispositions	(18)
Ending Balance	25,057	21,807
Brands and Trademarks
Disclosure Of Intangible Assets [Line Items]
Beginning Balance	61,083
Ending Balance	61,453	61,083
Brands and Trademarks | Cost
Disclosure Of Intangible Assets [Line Items]
Beginning Balance	80,400	41,445
Acquisition	1,500	38,950
Additions	0	55
Dispositions	0	(50)
Ending Balance	81,900	80,400
Brands and Trademarks | Accumulated Amortization
Disclosure Of Intangible Assets [Line Items]
Beginning Balance	19,317	736
Amortization	195	293
Impairment	935	18,288
Dispositions	0
Ending Balance	20,447	19,317
Franchises Agreements
Disclosure Of Intangible Assets [Line Items]
Beginning Balance	8,189
Ending Balance	6,939	8,189
Franchises Agreements | Cost
Disclosure Of Intangible Assets [Line Items]
Beginning Balance	10,000	10,000
Acquisition	0	0
Additions	0	0
Dispositions	0	0
Ending Balance	10,000	10,000
Franchises Agreements | Accumulated Amortization
Disclosure Of Intangible Assets [Line Items]
Beginning Balance	1,811	561
Amortization	1,250	1,250
Impairment	0	0
Dispositions	0
Ending Balance	3,061	1,811
Software
Disclosure Of Intangible Assets [Line Items]
Beginning Balance	4,863
Ending Balance	4,007	4,863
Software | Cost
Disclosure Of Intangible Assets [Line Items]
Beginning Balance	5,542	0
Acquisition	0	5,400
Additions	87	142
Dispositions	(73)	0
Ending Balance	5,556	5,542
Software | Accumulated Amortization
Disclosure Of Intangible Assets [Line Items]
Beginning Balance	679	0
Amortization	888	679
Impairment	0	0
Dispositions	(18)
Ending Balance	1,549	679
Retail Licenses
Disclosure Of Intangible Assets [Line Items]
Beginning Balance	750
Ending Balance	750	750
Retail Licenses | Cost
Disclosure Of Intangible Assets [Line Items]
Beginning Balance	750	0
Acquisition	0	750
Additions	0	0
Dispositions	0	0
Ending Balance	750	750
Retail Licenses | Accumulated Amortization
Disclosure Of Intangible Assets [Line Items]
Beginning Balance	0	0
Amortization	0	0
Impairment	0	0
Dispositions	0
Ending Balance	$ 0	$ 0

Intangible Assets - Additional

Intangible Assets - Additional Information (Details) - CAD ($)		12 Months Ended
	Sep. 30, 2022	Dec. 31, 2023	Dec. 31, 2022
Disclosure Of Intangible Assets [Line Items]
Impairment of intangible assets with indefinite useful lives			$ 0
Discount rate		12.50%	12%
Intellectual Property and Rights
Disclosure Of Intangible Assets [Line Items]
Impairment		$ 100,000
Estimated recoverable amount		$ 0
Cannabis Retail
Disclosure Of Intangible Assets [Line Items]
Impairment of intangible assets with indefinite useful lives	$ 16,400,000
Inner Spirit
Disclosure Of Intangible Assets [Line Items]
Estimated useful life of intangible assets		8 years
Sun 8 Holdings Inc
Disclosure Of Intangible Assets [Line Items]
Estimated useful life of intangible assets		15 years
Impairment		$ 800,000	$ 1,900,000
Estimated recoverable amount		$ 1,500,000	$ 2,500,000

Investments - Investments Other

Investments - Investments Other Than Investments Accounted for Using Equity Method (Details) - CAD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Disclosure Of Investments Other Than Investments Accounted For Using Equity Method [Line Items]
Investments other than investments accounted for using equity method	$ 33,060	$ 97,254
Investments	3,400	6,552
Long-term	29,660	90,702
Financial assets at amortized cost, category | At cost
Disclosure Of Investments Other Than Investments Accounted For Using Equity Method [Line Items]
Investments other than investments accounted for using equity method	24,405	24,493
Financial assets at fair value through profit or loss, category | At fair value
Disclosure Of Investments Other Than Investments Accounted For Using Equity Method [Line Items]
Investments other than investments accounted for using equity method	$ 8,655	$ 72,761

Investments - Additional Inform

Investments - Additional Information (Details) - CAD ($) $ in Millions						2 Months Ended	12 Months Ended
	Aug. 23, 2023	Feb. 07, 2023	Dec. 31, 2022	Aug. 22, 2022	Feb. 09, 2022	Feb. 28, 2023	Dec. 31, 2023	Dec. 31, 2022
Indiva
Disclosure Of Transactions Between Related Parties [Line Items]
Principal balance for investment in debt instrument							$ 19.8
Maturity date of investments	Feb. 24, 2026						Feb. 23, 2024
SUPERETTE | Promissory Notes
Disclosure Of Transactions Between Related Parties [Line Items]
Cash outflow for investment In debt instrument					$ 5
Maturity date of investments					Feb. 09, 2025
Rate of interest on investments					15%
SUPERETTE | Promissory Notes | Significant Advances and Adjustments
Disclosure Of Transactions Between Related Parties [Line Items]
Adjusted fair value of debt instrument		$ (1.7)						$ (3.7)
SUPERETTE | Amended and Restated Promissory Note
Disclosure Of Transactions Between Related Parties [Line Items]
Cash outflow for investment In debt instrument			$ 1.8		$ 8.1
SUPERETTE | Amended and Restated Promissory Note | Significant Advances and Adjustments
Disclosure Of Transactions Between Related Parties [Line Items]
Cash outflow for investment In debt instrument						$ 0.9
Term Loan | VALENS
Disclosure Of Transactions Between Related Parties [Line Items]
Cash Out Flow For Non Revolving Loan Issuance				$ 60
Maturity date of investments				Dec. 15, 2023
Rate of interest on investments				10%

Equity-Accounted Investees - Su

Equity-Accounted Investees - Summary of Interest (Details) - CAD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Investments accounted for using equity method [abstract]
Interest in joint venture	$ 538,331	$ 519,255

Equity-Accounted Investees - Ad

Equity-Accounted Investees - Additional Information (Details) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Pathway Rx Inc [Member]
Statements [Line Items]
Proportion of ownership interest in associate	25%
Sun Stream Bancorp Inc. [Member]
Statements [Line Items]
Proportion of ownership interest in joint venture	50%
Capital funded	$ 25,089	$ 119,137
Commitment To funded Capital Towards Joint Venture Monetary Instant Credit Definition	$ 538,000

Equity-Accounted Investees - _2

Equity-Accounted Investees - Summary of Interest in Joint Venture (Details) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disclosure of joint ventures [line items]
Beging Balance	$ 519,255
Ending Balance	538,331	$ 519,255
Sun Stream Bancorp Inc. [Member]
Disclosure of joint ventures [line items]
Beging Balance	519,255	412,858
Capital contributions	25,089	119,137
Share of net (loss) earnings	6,758	(43,002)
Share of other comprehensive income (loss)	(12,771)	31,923
Distributions		(1,661)
Ending Balance	$ 538,331	$ 519,255

Equity-Accounted Investees - _3

Equity-Accounted Investees - Summary of Financial Information of SunStream (Details) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disclosure of joint ventures [line items]
Current assets (including cash and cash equivalents - 2023: $0.3 million, 2022: $1.5 million)	$ 406,914	$ 501,483
Current liabilities	(103,147)	(89,361)
Profit (loss) from operations	(176,551)	(372,428)
Other comprehensive income (loss)	(12,771)	24,581
Sundial Growers Inc [Member]
Disclosure of joint ventures [line items]
Current assets (including cash and cash equivalents - 2023: $0.3 million, 2022: $1.5 million)	2,675	5,437
Non-current assets	532,740	509,418
Current liabilities	(1,096)	(1,146)
Net assets and liabilities	534,319	513,709
Revenue (loss)	14,098	(35,046)
Profit (loss) from operations	7,348	(42,627)
Other comprehensive income (loss)	(12,771)	31,923
Total comprehensive income (loss)	$ (5,177)	$ (10,619)

Equity-Accounted Investees - _4

Equity-Accounted Investees - Summary of Financial Information of SunStream (Parenthetical) (Details) - CAD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of joint ventures [line items]
Cash and cash equivalents	$ 195,041	$ 279,586	$ 558,251
Percentage of net assets liabilities	100%	100%
Sundial Growers Inc [Member]
Disclosure of joint ventures [line items]
Cash and cash equivalents	$ 300	$ 1,500

Goodwill - Schedule of Changes

Goodwill - Schedule of Changes in Goodwill (Details) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Goodwill [Abstact]
Goodwill at beginning of period	$ 67,260	$ 72,496
Acquisitions through business combinations	81,022	150,935
Impairment	(29,000)	(156,171)
Goodwill at end of period	$ 119,282	$ 67,260

Goodwill - Schedule of Impairme

Goodwill - Schedule of Impairment Testing Goodwill (Details) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disclosure Of Business Combinations [Line Items]
Goodwill allocated for impairment testing	$ 119,282	$ 67,260
Liquor Retail
Disclosure Of Business Combinations [Line Items]
Goodwill allocated for impairment testing	24,338	24,338
Cannabis Retail
Disclosure Of Business Combinations [Line Items]
Goodwill allocated for impairment testing	38,624	38,624
Cannabis Retail Franchise Group
Disclosure Of Business Combinations [Line Items]
Goodwill allocated for impairment testing	4,298	$ 4,298
Cannabis Operations - Valens
Disclosure Of Business Combinations [Line Items]
Goodwill allocated for impairment testing	$ 52,022

Goodwill - Additional Informati

Goodwill - Additional Information (Details) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disclosure of detailed information about business combination [line items]
Discount rate	12.50%	12%
Estimated cash flow term	5 years	5 years
Impairment loss	$ 54,967	$ 196,033
Cannabis Retail CGU
Disclosure of detailed information about business combination [line items]
Intangible assets with indefinite useful life	2,700	2,700
Impairment loss		88,000
Estimated recoverable amount		84,800
Cannabis Franchise CGU
Disclosure of detailed information about business combination [line items]
Intangible assets with indefinite useful life	18,300	18,300
Liquor Retail CGU
Disclosure of detailed information about business combination [line items]
Intangible assets with indefinite useful life	38,300	$ 43,100
Cannabis Operations CGU
Disclosure of detailed information about business combination [line items]
Intangible assets with indefinite useful life	1,500
Estimated recoverable amount	124,100
Cannabis Operations - Valens CGU
Disclosure of detailed information about business combination [line items]
Impairment loss	$ 29,000

Accounts Payable and Accrued _3

Accounts Payable and Accrued Liabilities - Summary of Accounts Payable and Accrued Liabilities (Details) - CAD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Subclassifications of assets, liabilities and equities [abstract]
Trade payables	$ 22,035	$ 9,774
Accrued and other liabilities	46,175	38,379
Accounts payable and accrued liabilities	$ 68,210	$ 48,153

Derivative Warrants - Summary o

Derivative Warrants - Summary of Derivative Warrants (Details) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disclosure Of Detailed Information About Derivative Warrant Liability [Line Items]
Balance, beginning of year	$ 11,002	$ 21,700
Change in fair value recognized in profit or loss	(6,602)	(10,783)
Acquisition		85
Balance, end of year	$ 4,400	$ 11,002

Derivative Warrants - December

Derivative Warrants - December 2018 Performance Warrants - Additional Information (Details)	12 Months Ended
	Dec. 31, 2023 Warrant
Disclosure Of Detailed Information About Derivative Warrant Liability [Line Items]
Warrants outstanding	9,933,333
December 2018 Performance Warrants
Disclosure Of Detailed Information About Derivative Warrant Liability [Line Items]
Warrants outstanding	118,067
Warrants outstanding expiration date	Dec. 18, 2023

Derivative Warrants - Summary_2

Derivative Warrants - Summary of Outstanding Derivative Warrants (Details)	12 Months Ended
	Dec. 31, 2023 Warrant $ / shares
Disclosure Of Detailed Information About Derivative Warrant Liability [Line Items]
Warrants outstanding	9,933,333
Weighted average contractual life	7 months 6 days
2020 Series A Warrants
Disclosure Of Detailed Information About Derivative Warrant Liability [Line Items]
Exercise price | $ / shares	$ 1.77	[1]
Warrants outstanding	50,000	[1]
Weighted average contractual life	1 year 7 months 6 days	[1]
Unsecured Convertible Notes Warrants
Disclosure Of Detailed Information About Derivative Warrant Liability [Line Items]
Exercise price | $ / shares	$ 1.77	[1]
Warrants outstanding	50,000	[1]
Weighted average contractual life	0 years	[1]
New Warrants
Disclosure Of Detailed Information About Derivative Warrant Liability [Line Items]
Exercise price | $ / shares	$ 2.29	[2]
Warrants outstanding	9,833,333	[2]
Weighted average contractual life	7 months 6 days	[2]
[1] The conversion or exercise price, as applicable, is subject to full ratchet antidilution protection upon any subsequent transaction at a price lower than the price then in effect and standard adjustments in the event of any share split, share dividend, share combination, recapitalization or other similar transaction. If the Company issues, sells or enters into any agreement to issue or sell, any variable rate securities, the investors have the additional right to substitute the variable price (or formula) of such securities for the conversion or exercise price, as applicable. The exercise price of the New Warrants was adjusted from US$ 15.00 to US$ 2.29 based on the July 26, 2022 Share Consolidation (as defined below) representing a share combination event (note 26(a) ).

Derivative Warrants - Summary_3

Derivative Warrants - Summary of Outstanding Derivative Warrants (Parenthetical) (Details) - $ / shares		12 Months Ended
	Jul. 26, 2022	Dec. 31, 2023
New Warrants
Disclosure Of Detailed Information About Derivative Warrant Liability [Line Items]
Weighted average exercise price of warrant	$ 15	$ 2.29

Lease Liabilities - Summary of

Lease Liabilities - Summary of Lease Liabilities (Details) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disclosure Of Lease Obligations [Line Items]
Acquisitions (note 3(a), note3(b))	$ 84,555	$ 345,351
Lease payments	(41,013)	(27,693)
Current portion	30,537	30,206
Long-term	136,492	139,625
IFRS 16
Disclosure Of Lease Obligations [Line Items]
Balance, beginning of year	169,831	33,470
Acquisitions (note 3(a), note3(b))	4,336	142,106
Additions	4,362	7,497
Lease payments	(45,017)	(31,834)
Renewals, remeasurements and dispositions	25,505	10,890
Tenant inducement allowances received	91	1,799
Accretion expense	7,921	5,903
Balance, end of year	167,029	169,831
Current portion	30,537	30,206
Long-term	$ 136,492	$ 139,625

Lease Liabilities - Additional

Lease Liabilities - Additional Information (Details) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
IFRS 16
Disclosure Of Lease Obligations [Line Items]
Renewals, remeasurements and dispositions	$ 25,505	$ 10,890

Lease Liabilities - Summary o_2

Lease Liabilities - Summary of Minimum Lease Payments (Details) $ in Thousands	Dec. 31, 2023 CAD ($)
Disclosure Of Maturity Analysis Of Finance Lease Payments Receivable [Line Items]
Minimum lease payments	$ 198,494
Less Than One Year
Disclosure Of Maturity Analysis Of Finance Lease Payments Receivable [Line Items]
Minimum lease payments	41,743
One to Three Years
Disclosure Of Maturity Analysis Of Finance Lease Payments Receivable [Line Items]
Minimum lease payments	69,660
Three to Five Years
Disclosure Of Maturity Analysis Of Finance Lease Payments Receivable [Line Items]
Minimum lease payments	51,372
Thereafter
Disclosure Of Maturity Analysis Of Finance Lease Payments Receivable [Line Items]
Minimum lease payments	$ 35,719

Other Liabilities - Schedule Of

Other Liabilities - Schedule Of Other Liabilities (Detail) - CAD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Disclosure Of Other Liabilities [Abstract]
Financial guarantee liability	$ 268	$ 407
Deferred share units liability	3,917	2,302
Total	$ 4,185	$ 2,709

Income Taxes - Summary of Incom

Income Taxes - Summary of Income Tax Expense (Recovery) (Details) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Major components of tax expense (income) [abstract]
Loss before income tax	$ (172,016)	$ (379,770)
Statutory income tax rates	23%	23%
Expected income tax recovery	$ (39,564)	$ (87,347)
Non-deductible share-based compensation	4,954	2,508
Revaluation of the fair value of warrant liabilities	0	(2,461)
Non-controlling interest	(1,118)	8,167
Non-deductible portion of capital losses	1,107	7,458
Other non-deductible expenses	2,937	5,409
Goodwill impairment	0	35,919
Deferred tax benefits not recognized	35,322	23,005
Income tax (recovery) expense	$ 0	$ (7,342)

Income Taxes - Summary of Defer

Income Taxes - Summary of Deferred Tax Assets (Liabilities) (Details) - CAD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Deferred Tax Assets And Liabilities [Line Items]
Net deferred tax asset (liability)	$ 0	$ 0	$ 0
Property, Plant and Equipment
Deferred Tax Assets And Liabilities [Line Items]
Net deferred tax asset (liability)	(4,148)	0
Inventory
Deferred Tax Assets And Liabilities [Line Items]
Net deferred tax asset (liability)	29,835	23,329
Biological assets
Deferred Tax Assets And Liabilities [Line Items]
Net deferred tax asset (liability)	(8,093)	(9,451)
Net Investment in Subleases
Deferred Tax Assets And Liabilities [Line Items]
Net deferred tax asset (liability)	(4,914)	(5,363)
Intangible Assets
Deferred Tax Assets And Liabilities [Line Items]
Net deferred tax asset (liability)	(16,230)	(16,632)
Lease liabilities
Deferred Tax Assets And Liabilities [Line Items]
Net deferred tax asset (liability)	465	(5,488)
Marketable Securities
Deferred Tax Assets And Liabilities [Line Items]
Net deferred tax asset (liability)	3,159	14,981
Fair Value of Derivatives
Deferred Tax Assets And Liabilities [Line Items]
Net deferred tax asset (liability)	(83)	0
Equity Accounted Investee
Deferred Tax Assets And Liabilities [Line Items]
Net deferred tax asset (liability)	$ 9	$ (1,376)

Income Taxes - Summary of Unrec

Income Taxes - Summary of Unrecognized Deductible Temporary Differences (Details) - CAD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Disclosure of temporary difference, unused tax losses and unused tax credits [abstract]
Property, plant and equipment	$ 0	$ 7,413
Intangible assets	183	183
Share issue costs	24,691	28,926
Investments	18,748	18,239
Lease liabilities	165,252	193,691
Financial obligations and other	3,917	2,300
Non-capital losses & scientific research and experimental development	986,422	490,326
Unrecognized deductible temporary differences	$ 1,199,213	$ 741,078

Income Taxes - Summary of Movem

Income Taxes - Summary of Movement in Deferred Income Tax Liability (Details) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Deferred Tax Assets And Liabilities [Line Items]
Balance, beginning of year	$ 0	$ 0
Recognized in profit and loss	0	(7,342)
Recognized in other comprehensive income	0	7,342
Balance, end of year	$ 0	$ 0

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - CAD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Major components of tax expense (income) [abstract]
Non-capital losses available for future periods	$ 985	$ 490.3

Share Capital and Warrants - Su

Share Capital and Warrants - Summary of Issued and Outstanding (Details) - CAD ($) $ in Thousands		12 Months Ended
	Jul. 25, 2022	Dec. 31, 2023	Dec. 31, 2022
Disclosure Of Classes Of Share Capital [Line Items]
Share issuances, shares	10,000,000	1,500,000	13,300,000
Share repurchases, shares		500,000	4,300,000
Beginning balance		$ 1,327,655	$ 1,329,533
Share repurchases		(1,536)	(13,390)
Business acquisitions		84,555	345,351
Ending balance		$ 1,229,340	$ 1,327,655
Share Capital
Disclosure Of Classes Of Share Capital [Line Items]
Balance, beginning of year, shares		235,194,236	206,040,836
Share issuances, shares		931,740	370,179
Share repurchases, shares		(546,700)	(4,252,489)
Business acquisitions, shares		27,605,782	32,060,135
Shares acquired and cancelled, shares		(2,261,778)	0
Employee awards exercised, shares		1,852,573	975,575
Balance, end of year, shares		262,775,853	235,194,236
Beginning balance		$ 2,292,810	$ 2,035,704
Share issuances, carrying amount		1,900	2,870
Share repurchases		(5,344)	(41,617)
Business acquisitions		83,953	287,129
Shares acquired and cancelled		(6,879)	0
Employee awards exercised		9,510	8,724
Ending balance		$ 2,375,950	$ 2,292,810

Share Capital and Warrants - _2

Share Capital and Warrants - Summary of Issued and Outstanding (Parentheticals) (Details)	12 Months Ended
	Dec. 31, 2021 shares
Restricted Share Units
Disclosure Of Classes Of Share Capital [Line Items]
Number of shares vested	50,000

Share Capital and Warrants - Ad

Share Capital and Warrants - Additional Information (Details) $ / shares in Units, $ / shares in Units, $ in Thousands, $ in Millions		12 Months Ended
	Jul. 25, 2022 shares	Dec. 31, 2023 CAD ($) $ / shares shares	Dec. 31, 2023 CAD ($) $ / shares shares	Dec. 31, 2022 CAD ($) $ / shares shares	Dec. 31, 2022 CAD ($) $ / shares shares	Dec. 31, 2023 USD ($) shares	Dec. 31, 2022 USD ($)
Share Capital And Warrants [Line Items]
Number of shares issued	10,000,000	1,500,000	1,500,000	13,300,000	13,300,000
Number of shares issued upon conversion	1
Share repurchases, shares		500,000	500,000	4,300,000	4,300,000
Shares repurchased weighted average price per common share | (per share)		$ 2.78	$ 2.04	$ 3.12	$ 2.33
Accumulated deficit		$ (1,260,851)	$ (1,260,851)	$ (1,091,999)	$ (1,091,999)	$ 3.8	$ 28.3
Valens Arrangement Agreement [Member] | VALENS
Share Capital And Warrants [Line Items]
Number of shares issued		6,600,000	6,600,000
Share repurchases, shares		2,200,000	2,200,000
Number of ordinary shares owned		6,500,000	6,500,000			6,500,000
Number of ordinary shares received		2,200,000	2,200,000
Major Ordinary Share Transactions | Valens Arrangement Agreement [Member] | VALENS
Share Capital And Warrants [Line Items]
Common stock ,conversion price		0.3334	0.3334

Share Capital and Warrants - _3

Share Capital and Warrants - Summary of Common Share Purchase Warrants (Details) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disclosure Of Common Share Purchase Warrants [Line Items]
Beginning balance	$ 1,327,655	$ 1,329,533
Ending balance	$ 1,229,340	$ 1,327,655
Warrants
Disclosure Of Common Share Purchase Warrants [Line Items]
Beginning balance, Number of Warrants	308,612	356,612
Warrants expired, Number of Warrants		(48,000)
Ending balance, Number of Warrants	308,612	308,612
Beginning balance	$ 2,260	$ 8,092
Warrants expired, Carrying Amount		(5,832)
Ending balance	$ 2,260	$ 2,260

Share Capital And Warrants - _4

Share Capital And Warrants - Summary of Outstanding Warrants (Details) - Warrants	12 Months Ended
	Dec. 31, 2023 Warrant $ / shares
Disclosure Of Exercise Price Number And Weighted Average Contractual Life Of Outstanding Share Options [Line Items]
Warrants outstanding and exercisable, Weighted average exercise price | $ / shares	$ 12.13
Warrants outstanding and exercisable, Number of warrants | Warrant	308,612
Warrants outstanding and exercisable, Weighted average contractual life (years)	1 year 6 months
Sun 8 Holdings Inc
Disclosure Of Exercise Price Number And Weighted Average Contractual Life Of Outstanding Share Options [Line Items]
Warrants outstanding and exercisable, Weighted average exercise price | $ / shares	$ 9.4
Warrants outstanding and exercisable, Number of warrants | Warrant	64,000
Warrants outstanding and exercisable, Weighted average contractual life (years)	2 years
Financial Services
Disclosure Of Exercise Price Number And Weighted Average Contractual Life Of Outstanding Share Options [Line Items]
Warrants outstanding and exercisable, Weighted average exercise price | $ / shares	$ 45.98
Warrants outstanding and exercisable, Number of warrants | Warrant	54,400
Warrants outstanding and exercisable, Weighted average contractual life (years)	5 years 7 months 6 days
Acquired From Inner Spirit [Member]
Disclosure Of Exercise Price Number And Weighted Average Contractual Life Of Outstanding Share Options [Line Items]
Warrants outstanding and exercisable, Weighted average exercise price | $ / shares	$ 3.37	[1]
Warrants outstanding and exercisable, Number of warrants | Warrant	190,212	[1]
Warrants outstanding and exercisable, Weighted average contractual life (years)	2 months 12 days	[1]
[1] Inner Spirit warrants are exchangeable for 0.00835 SNDL common shares in accordance with the Inner Spirit transaction consideration and have been presented based on the number of SNDL common shares that are issuable.

Share Capital And Warrants - _5

Share Capital And Warrants - Summary of Outstanding Warrants (Parentheticals) (Details)	12 Months Ended
	Dec. 31, 2023 shares
Inner Spirit
Statements [Line Items]
Warrants are Exchangeable For Number Of Common Shares Accordance With The Transaction Consideration	0.00835

Share-based Compensation - Comp

Share-based Compensation - Components of Share-based Compensation Expense (Details) - CAD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Share-based compensation		$ 15,400	$ 9,671
Simple Warrants | Equity Settled Expense
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Share-based compensation		(332)	1,299
Stock Options | Equity Settled Expense
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Share-based compensation		(1)	78
Restricted Share Units | Equity Settled Expense
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Share-based compensation	[1]	13,350	9,423
Deferred Share Units | Cash Settled Expense
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Share-based compensation	[1],[2]	$ 2,383	$ (1,129)
[1] For the year ended December 31, 2023, the Company recognized share-based compensation expense under Nova’s RSU plan of $ 34 (2022 — recovery of $ 107 ) and share-based compensation expense under Nova’s DSU plan of $ 768 (2022 — $ 404 ) . Cash-settled DSUs are accounted for as a liability and are measured at fair value based on the market value of the Company’s common shares at each reporting period. Fluctuations in the fair value are recognized during the period in which they occur.

Share-based Compensation - Co_2

Share-based Compensation - Components of Share-based Compensation Expense (Parenthetical) (Details) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Share-based compensation	$ 15,400	$ 9,671
NOVA RSU PLAN | Equity Settled Expense
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Share-based compensation recovery	34	107
NOVA DSU PLAN | Cash Settled Expense
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Share-based compensation	$ 768	$ 404

Share-based Compensation - Addi

Share-based Compensation - Additional Information (Details) $ in Millions	12 Months Ended
	Dec. 31, 2023 CAD ($) shares	Dec. 31, 2022 CAD ($) shares	Dec. 31, 2021 shares
Cash Settled Plan
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Fair value of cash settled deferred share units | $	$ 3.9	$ 2.3
Simple and Performance Warrants
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Vesting period	3 years
Simple Warrants
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Maturity period	5 years
Performance Warrants
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Maturity period	5 years
Stock Options | Equity Settled Plan
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Vesting period	3 years
Maturity period	10 years
Deferred Share Units | Cash Settled Plan
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Granted	689,950	1,216,076
Exercised	1,500,000	800,000
Vesting term	DSUs are granted to directors and generally vest in equal instalments over one year
Vesting period	1 year
Exercisable	0	0
Restricted Share Units
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Exercised			50,000
Restricted Share Units | Equity Settled Plan
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Granted	10,259,228	1,728,557
Exercised	1,852,573	925,575

Share-based Compensation - Summ

Share-based Compensation - Summary of Changes in Simple and Performance Warrants (Details)	12 Months Ended
	Dec. 31, 2023 shares $ / shares	Dec. 31, 2022 shares $ / shares
Simple Warrants
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Beginning balance | shares	165,820	259,420
Forfeited | shares	(74,640)	(82,400)
Expired | shares	(24,480)	(11,200)
Ending balance | shares	66,700	165,820
Weighted average exercise price, beginning balance | $ / shares	$ 46.91	$ 48.6
Weighted average exercise price, Forfeited | $ / shares	63.86	57.77
Weighted average exercise price, Expired | $ / shares	14.68	6.25
Weighted average exercise price, ending balance | $ / shares	$ 39.77	$ 46.91
Performance Warrants
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Beginning balance | shares	123,200	138,720
Forfeited | shares	(52,800)	(15,520)
Expired | shares	(16,000)
Ending balance | shares	54,400	123,200
Weighted average exercise price, beginning balance | $ / shares	$ 42.26	$ 41.77
Weighted average exercise price, Forfeited | $ / shares	54.55	37.86
Weighted average exercise price, Expired | $ / shares	14.07	0
Weighted average exercise price, ending balance | $ / shares	$ 38.62	$ 42.26

Share-based Compensation - Su_2

Share-based Compensation - Summarizes Outstanding Simple and Performance Warrants (Details)	12 Months Ended
	Dec. 31, 2023 shares $ / shares	Dec. 31, 2022 shares $ / shares	Dec. 31, 2021 shares $ / shares
Simple Warrants
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Number of warrants, Warrants outstanding | shares	66,700	165,820	259,420
Weighted average exercise price, Warrants outstanding | $ / shares	$ 39.77	$ 46.91	$ 48.6
Weighted average contractual life, Warrants outstanding (years)	1 year 9 months 14 days
Number of warrants, Warrants exercisable | shares	65,420
Weighted average exercise price, Warrants exercisable | $ / shares	$ 36.26
Weighted average contractual life, Warrants exercisable (years)	1 year 8 months 19 days
Performance Warrants
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Number of warrants, Warrants outstanding | shares	54,400	123,200	138,720
Weighted average exercise price, Warrants outstanding | $ / shares	$ 38.62	$ 42.26	$ 41.77
Number of warrants, Warrants exercisable | shares	43,734
Weighted average exercise price, Warrants exercisable | $ / shares	$ 22.9
Weighted average contractual life, Warrants exercisable (years)	1 year 3 months 3 days
$6.25 - $9.38 | Simple Warrants
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Number of warrants, Warrants outstanding | shares	36,300
Weighted average exercise price, Warrants outstanding | $ / shares	$ 7.63
Weighted average contractual life, Warrants outstanding (years)	10 months 9 days
Number of warrants, Warrants exercisable | shares	36,300
Weighted average exercise price, Warrants exercisable | $ / shares	$ 7.63
Weighted average contractual life, Warrants exercisable (years)	10 months 9 days
$6.25 - $9.38 | Performance Warrants
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Number of warrants, Warrants outstanding | shares	19,200
Weighted average exercise price, Warrants outstanding | $ / shares	$ 6.25
Weighted average contractual life, Warrants outstanding (years)	1 year 2 months 8 days
Number of warrants, Warrants exercisable | shares	19,200
Weighted average exercise price, Warrants exercisable | $ / shares	$ 6.25
Weighted average contractual life, Warrants exercisable (years)	1 year 2 months 8 days
$29.69 - $45.31 | Simple Warrants
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Number of warrants, Warrants outstanding | shares	7,200
Weighted average exercise price, Warrants outstanding | $ / shares	$ 34.9
Weighted average contractual life, Warrants outstanding (years)	1 year 9 months 25 days
Number of warrants, Warrants exercisable | shares	7,200
Weighted average exercise price, Warrants exercisable | $ / shares	$ 34.9
Weighted average contractual life, Warrants exercisable (years)	1 year 9 months 25 days
$29.69 - $45.31 | Performance Warrants
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Number of warrants, Warrants outstanding | shares	23,200
Weighted average exercise price, Warrants outstanding | $ / shares	$ 32.6
Weighted average contractual life, Warrants outstanding (years)	1 year 3 months 7 days
Number of warrants, Warrants exercisable | shares	23,200
Weighted average exercise price, Warrants exercisable | $ / shares	$ 32.6
Weighted average contractual life, Warrants exercisable (years)	1 year 3 months 7 days
$62.50 - $93.75 | Simple Warrants
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Number of warrants, Warrants outstanding | shares	17,280
Weighted average exercise price, Warrants outstanding | $ / shares	$ 64.81
Weighted average contractual life, Warrants outstanding (years)	2 years 11 months 23 days
Number of warrants, Warrants exercisable | shares	17,280
Weighted average exercise price, Warrants exercisable | $ / shares	$ 64.81
Weighted average contractual life, Warrants exercisable (years)	2 years 11 months 23 days
$62.50 - $93.75 | Performance Warrants
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Number of warrants, Warrants outstanding | shares	9,334
Weighted average exercise price, Warrants outstanding | $ / shares	$ 77.68
Number of warrants, Warrants exercisable | shares	1,334
Weighted average exercise price, Warrants exercisable | $ / shares	$ 93.75
Weighted average contractual life, Warrants exercisable (years)	2 years 1 month 28 days
$125.00 - $312.50 | Simple Warrants
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Number of warrants, Warrants outstanding | shares	5,920
Weighted average exercise price, Warrants outstanding | $ / shares	$ 169.62
Weighted average contractual life, Warrants outstanding (years)	3 years 11 months 1 day
Number of warrants, Warrants exercisable | shares	4,640
Weighted average exercise price, Warrants exercisable | $ / shares	$ 156.07
Weighted average contractual life, Warrants exercisable (years)	3 years 7 months 9 days
$125.00 - $218.75 | Performance Warrants
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Number of warrants, Warrants outstanding | shares	2,666
Weighted average exercise price, Warrants outstanding | $ / shares	$ 187.5

Share-based Compensation - Su_3

Share-based Compensation - Summary of Changes in Stock Options (Details) - Equity Settled Plan - Stock Options	12 Months Ended
	Dec. 31, 2023 shares $ / shares	Dec. 31, 2022 shares $ / shares
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Beginning Balance | shares	44,360	44,460
Acquired (note 5(c)) | shares	1,317,837
Forfeited | shares	(424,027)
Expired | shares	(84,465)	(100)
Ending Balance | shares	853,705	44,360
Weighted average exercise price, beginning balance | $ / shares	$ 13.24	$ 13.28
Weighted average exercise price, Acquired (note 5(c)) | $ / shares	17.63
Weighted average exercise price, Forfeited | $ / shares	17.21
Weighted average exercise price, Expired | $ / shares	14.44	31.5
Weighted average exercise price, ending balance | $ / shares	$ 17.92	$ 13.24

Share-based Compensation - Su_4

Share-based Compensation - Summary of Outstanding Stock Options (Details) - Equity Settled Plan - Stock Options - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Warrants outstanding and exercisable, Number of warrants	853,705	44,360	44,460
Warrants outstanding and exercisable, Weighted average contractual life (years)	2 years 5 months 15 days
Number of options, Stock options exercisable	853,405
Weighted average contractual life, Stock options exercisable (years)	2 years 5 months 12 days
$11.50
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Warrants outstanding and exercisable, Number of warrants	10,000
Warrants outstanding and exercisable, Weighted average contractual life (years)	6 years 4 months 28 days
Number of options, Stock options exercisable	10,000
Weighted average contractual life, Stock options exercisable (years)	6 years 4 months 28 days
$11.90
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Warrants outstanding and exercisable, Number of warrants	8,160
Warrants outstanding and exercisable, Weighted average contractual life (years)	6 years 5 months 26 days
Number of options, Stock options exercisable	8,160
Weighted average contractual life, Stock options exercisable (years)	6 years 5 months 26 days
$31.50
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Warrants outstanding and exercisable, Number of warrants	3,000
Warrants outstanding and exercisable, Weighted average contractual life (years)	4 years 8 months 23 days
Number of options, Stock options exercisable	2,700
Weighted average contractual life, Stock options exercisable (years)	4 years 7 months 24 days
$11.79 - $38.88 (Legacy Valens)
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Warrants outstanding and exercisable, Number of warrants	832,545
Warrants outstanding and exercisable, Weighted average contractual life (years)	2 years 4 months 9 days
Number of options, Stock options exercisable	832,545
Weighted average contractual life, Stock options exercisable (years)	2 years 4 months 9 days

Share-based Compensation - Su_5

Share-based Compensation - Summary of Changes in Restricted Share Units (Details) - Restricted Share Units - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Exercised			(50,000)
Equity Settled Plan
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Beginning balance	1,381,330	753,593
Granted	10,259,228	1,728,557
Forfeited	(1,158,279)	(175,245)
Exercised	(1,852,573)	(925,575)
Ending balance	8,629,706	1,381,330	753,593

Share-based Compensation - Su_6

Share-based Compensation - Summary of Changes in Deferred Share Units (Details) - Cash Settled Plan - Deferred Share Units - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Beginning balance	1,708,383	551,250
Granted	689,950	1,216,076
Exercised		(58,943)
Ending balance	2,398,333	1,708,383

Gross Revenue - Disaggregation

Gross Revenue - Disaggregation of Revenue from Contracts with Customers (Details) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Gross revenue	$ 957,725	$ 729,694
Liquor retail revenue
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Gross revenue	578,895	462,180
Cannabis retail revenue
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Gross revenue	289,980	205,610
Cannabis retail revenue | Retail
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Gross revenue	270,454	192,710
Cannabis retail revenue | Franchise
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Gross revenue	7,100	8,337
Cannabis retail revenue | Other
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Gross revenue	12,426	4,563
Cannabis operations revenue
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Gross revenue	88,850	61,904
Cannabis operations revenue | Provincial Boards
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Gross revenue	71,894	58,728
Cannabis operations revenue | Medical
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Gross revenue	24	9
Cannabis operations revenue | Wholesale
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Gross revenue	15,682	3,167
Cannabis operations revenue | Analytical Testing
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Gross revenue	$ 1,250	$ 0

Gross Revenue - Summary of Rece

Gross Revenue - Summary of Receivables from Contracts with Customers (Details) - CAD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Revenue [abstract]
Receivables, included in 'trade receivables' (note 10)	$ 23,422	$ 17,558

Gross Revenue - Additional Info

Gross Revenue - Additional Information (Details) - CAD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Revenue [abstract]
Maximum period to settle receivables from contracts with customers	30 days
Impairment loss (reversal) on receivables from contracts with customers	$ 10.4	$ 0.6

Investment Revenue (Loss) - Sum

Investment Revenue (Loss) - Summary of Interest and Fee Revenue (Details) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Investment Revenue (Loss) [Abstract]
Interest revenue from investments at amortized cost	$ 3,781	$ 3,660
Interest and fee revenue from investments at FVTPL	1,374	6,036
Interest revenue from cash	9,362	7,043
Interest and fee revenue	$ 14,517	$ 16,739

Investment Revenue (Loss) - S_2

Investment Revenue (Loss) - Summary of Investment Loss (Details) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Investment Loss [Abstract]
Investment loss	$ (9,258)	$ (65,164)

Other Operating Expenses - Summ

Other Operating Expenses - Summary of General and Administrative Expense (Details) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Expenses by nature [abstract]
Salaries and wages	$ 114,684	$ 80,134
Consulting fees	4,320	1,934
Office and general	51,191	37,061
Professional fees	14,620	11,563
Merchant Processing Fees	6,332	4,748
Director fees	550	472
Other	8,028	4,256
General and administrative expense	$ 199,725	$ 140,168

Other Operating Expenses - Su_2

Other Operating Expenses - Summary of Sales and Marketing Expense (Details) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Expenses by nature [abstract]
Marketing	$ 13,599	$ 7,308
Events	114	102
Media	1,332	1,007
Sales and marketing expense	$ 15,045	$ 8,417

Other Operating Expenses - Addi

Other Operating Expenses - Additional Information (Details) $ in Millions	12 Months Ended
	Dec. 31, 2023 CAD ($)
Expenses by nature [abstract]
Restructuring costs	$ 19.6

Finance Costs - Summary of Fina

Finance Costs - Summary of Finance Costs (Details) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Cash finance expense
Other finance costs	$ 81	$ 178
Interest expense	81	178
Non-cash finance expense (income)
Change in fair value of investment at FVTPL	3,317	36,087
Accretion on lease liabilities	7,921	5,903
Financial guarantee liability recovery	(139)	(59)
Other	1,039	89
Non-cash finance expense (income)	12,138	42,020
Interest income	(857)	(884)
Finance costs	$ 11,362	$ 41,314

Supplemental Cash Flow Disclo_3

Supplemental Cash Flow Disclosures - Summary of Changes in Non-cash Working Capital (Details) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Cash provided by (used in):
Accounts receivable	$ 15,096	$ (5,815)
Biological assets	(4,888)	533
Inventory	(17,411)	4,243
Prepaid expenses and deposits	(3,515)	5,782
Assets held for sale	2,081
Investments	692	918
Right of use assets	(3,450)	(17,510)
Property, plant and equipment	(97)	38
Accounts payable and accrued liabilities	(20,809)	(27,864)
Lease liabilities	3,496	19,296
Changes in non cash working capital	(28,805)	(20,379)
Changes in non-cash working capital relating to:
Operating	(32,875)	(22,073)
Investing	4,028	74
Financing	42	1,620
Changes in non cash working capital	$ (28,805)	$ (20,379)

Loss Per Share - Summary of Los

Loss Per Share - Summary of Loss Per Share (Details) - CAD ($) $ / shares in Units, $ in Thousands			12 Months Ended
		May 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Weighted average shares outstanding (000s)
Basic and dilutive	[1]		259,371	229,871
Continuing operations
Net loss attributable to owners of the Company			$ (172,660)	$ (335,114)
Per share - basic			$ (0.65)	$ (1.46)
Per share - diluted			$ (0.65)	$ (1.46)
Discontinued operations
Net loss attributable to owners of the Company		$ 2,300	$ (4,535)
Per share - basic			$ (0.02)
Per share - diluted			$ (0.02)
Net loss attributable to owners of the Company			$ (168,125)	$ (335,114)
Per share - basic			$ (0.67)	$ (1.46)
Per share - diluted			$ (0.67)	$ (1.46)
[1] For the year ended December 31, 2023, there were 0.3 million equity classified warrants, 9.9 million derivative warrants, 0.1 million simple warrants, 0.1 million performance warrants, 0.9 million stock options and 8.6 million RSUs that were excluded from the calculation as the impact was anti-dilutive (year ended December 31, 2022 – 0.3 million equity classified warrants, 10.1 million derivative warrants, 0.2 million simple warrants, 0.1 million performance warrants, 0.04 million stock options and 1.4 million RSUs).

Loss Per Share - Summary of L_2

Loss Per Share - Summary of Loss Per Share (Parenthetical) (Details) - CAD ($) $ in Thousands, shares in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Earnings per share [abstract]
Equity Classified warrants	0.3	0.3
Derivative warrants	9.9	10.1
Simple warrants	0.1	0.2
Performance warrants	0.1	0.1
Stock options	$ 900	$ 40
RSUs Exercisable	$ 8,600	$ 1,400

Financial Instruments - Summary

Financial Instruments - Summary of Fair Value Measurements of Long-term Debt, Derivative Warrant Liabilities and Contingent Consideration (Details) - Recurring fair value measurement [member] - CAD ($) $ in Thousands		Dec. 31, 2023	Dec. 31, 2022
Marketable Securities
Disclosure Of Fair Value Measurement Of Assets [Line Items]
Financial assets		$ 225	$ 21,926
Investments at FVTPL
Disclosure Of Fair Value Measurement Of Assets [Line Items]
Financial assets		8,655	72,761
Derivative Warrants
Disclosure Of Fair Value Measurement Of Assets [Line Items]
Financial liabilities	[1]	4,400	11,002
Level 1 | Marketable Securities
Disclosure Of Fair Value Measurement Of Assets [Line Items]
Financial assets		225	21,926
Level 1 | Investments at FVTPL
Disclosure Of Fair Value Measurement Of Assets [Line Items]
Financial assets		0	0
Level 1 | Derivative Warrants
Disclosure Of Fair Value Measurement Of Assets [Line Items]
Financial liabilities	[1]	0	0
Level 2 | Marketable Securities
Disclosure Of Fair Value Measurement Of Assets [Line Items]
Financial assets		0	0
Level 2 | Investments at FVTPL
Disclosure Of Fair Value Measurement Of Assets [Line Items]
Financial assets		0	0
Level 2 | Derivative Warrants
Disclosure Of Fair Value Measurement Of Assets [Line Items]
Financial liabilities	[1]	0	0
Level 3 | Marketable Securities
Disclosure Of Fair Value Measurement Of Assets [Line Items]
Financial assets		0	0
Level 3 | Investments at FVTPL
Disclosure Of Fair Value Measurement Of Assets [Line Items]
Financial assets		8,655	72,761
Level 3 | Derivative Warrants
Disclosure Of Fair Value Measurement Of Assets [Line Items]
Financial liabilities	[1]	$ 4,400	$ 11,002
[1] The carrying amount is an estimate of the fair value of the derivative warrants and is presented as a current liability. The Company has no cash obligation with respect to the derivative warrants, rather it will deliver common shares if and when warrants are exercised.

Financial Instruments - Additio

Financial Instruments - Additional Information (Details) $ in Millions	12 Months Ended
	Dec. 31, 2023 CAD ($)
Disclosure Of Financial Instruments [Line Items]
Percentage of change in material assumptions	10%
Financial instruments expected credit loss	$ 0.4
Derivative Warrant Liabilities
Disclosure Of Financial Instruments [Line Items]
Change in fair value liabilities	$ 0.7

Financial Instruments - Summa_2

Financial Instruments - Summary of Impairment Losses on Accounts Receivable Recognized in Profit or Loss (Details) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disclosure of detailed information about financial instruments [abstract]
Impairment loss on trade receivables	$ 10,383	$ 642
Impairment loss (reversal) on other receivables	(31)	674
Impairment loss (reversal) on accounts receivable	$ 10,352	$ 1,316

Financial Instruments - Summa_3

Financial Instruments - Summary of Movement in Allowance for Impairment in Respect of Accounts Receivable (Details) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disclosure of detailed information about financial instruments [abstract]
Balance, beginning of year	$ 2,448	$ 1,132
Net remeasurement of impairment loss allowance	10,352	1,316
Balance, end of year	$ 12,800	$ 2,448

Financial Instruments - Timing

Financial Instruments - Timing of Expected Cash Outflows Relating to Financial Liabilities (Details) - CAD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Disclosure Of Financial Instruments [Line Items]
Accounts payable and accrued liabilities	$ 68,210	$ 48,153
Liquidity Risk Management
Disclosure Of Financial Instruments [Line Items]
Accounts payable and accrued liabilities	68,210
Financial guarantee liability	268
Balance, end of year	68,478
Liquidity Risk Management | Less Than One Year
Disclosure Of Financial Instruments [Line Items]
Accounts payable and accrued liabilities	68,210
Financial guarantee liability	0
Balance, end of year	68,210
Liquidity Risk Management | One to Three Years
Disclosure Of Financial Instruments [Line Items]
Accounts payable and accrued liabilities	0
Financial guarantee liability	268
Balance, end of year	268
Liquidity Risk Management | Three to Five Years
Disclosure Of Financial Instruments [Line Items]
Accounts payable and accrued liabilities	0
Financial guarantee liability	0
Balance, end of year	0
Liquidity Risk Management | Thereafter
Disclosure Of Financial Instruments [Line Items]
Accounts payable and accrued liabilities	0
Financial guarantee liability	0
Balance, end of year	$ 0

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details) - CAD ($)	9 Months Ended	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2023
Related party transactions [abstract]
Related party transaction, terms		The lease term is from November 1, 2017 to October 31, 2027 and includes extension terms from November 1, 2027 to October 31, 2032 and November 1, 2032 to October 31, 2037.
Total rent	$ 117,900	$ 167,000

Related Party Transactions - Co

Related Party Transactions - Compensation of Key Management Personnel (Details) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disclosure of transactions between related parties [abstract]
Salaries and short-term benefits	$ 7,255	$ 4,505
Share-based compensation	9,237	5,871
Key management personnel compensation	$ 16,492	$ 10,376

Non-Controlling Interests - Sum

Non-Controlling Interests - Summarized Statement of Financial Position (Details) - CAD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Disclosure of subsidiaries [line items]
Current assets	$ 406,914	$ 501,483
Current liabilities	103,147	89,361
Nova [Member]
Disclosure of subsidiaries [line items]
Current assets	36,734	18,732
Current liabilities	29,690	19,892
Current net assets	7,044	(1,160)
Non-current assets	87,665	94,419
Non-current liabilities	43,564	45,443
Non-current net assets	44,101	48,976
Net assets and liabilities	$ 51,145	$ 47,816

Non-Controlling Interests - S_2

Non-Controlling Interests - Summarized Statement of Loss and Comprehensive Loss (Details) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023		Dec. 31, 2022
Disclosure of subsidiaries [line items]
Revenue	$ 909,006	[1]	$ 712,197
Nova [Member]
Disclosure of subsidiaries [line items]
Revenue	259,325		176,588
Earnings (loss) and comprehensive income (loss)	$ 3,327		$ (7,672)
[1] The Company has eliminated $ 46.9 million of cannabis operations revenue and equal cost of sales associated with sales to provincial boards that are expected to be subsequently repurchased by the Company’s licensed retailer subsidiaries for resale, at which point the full retail sales revenue will be recognized. The elimination was recorded in the Corporate segment.

Non-Controlling Interests - S_3

Non-Controlling Interests - Summarized Statement of Cash Flows (Details) - CAD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disclosure of subsidiaries [line items]
Net cash provided by operating activities	$ (16,648)	$ (6,711)
Net cash used in investing activities	(24,817)	(230,164)
Net cash used in financing activities	(43,080)	(41,790)
Change in cash and cash equivalents	(84,545)	(278,665)
Nova [Member]
Disclosure of subsidiaries [line items]
Net cash provided by operating activities	11,721	5,848
Net cash used in investing activities	(2,330)	(5,549)
Net cash used in financing activities	(611)	(183)
Change in cash and cash equivalents	$ 8,780	$ 116

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - CAD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2019
Disclosure Of Commitments And Contingencies [Abstract]
Accrued financial penalties payable	$ 2.5	$ 2.5	$ 1	$ 1.5