On May 3, 2018, Sunniva Inc. (CSE: SNN) (OTCQX: SNNVF) announced that it had selected a 126-acre site in Okanagan Falls, British Columbia, for the construction of its Sunniva Canada Campus and had broken ground. The industrial zoned property was acquired by the company’s wholly owned subsidiary, Sunniva Medical Inc., for a purchase price of $7 million (http://ibn.fm/AUs4U).
Sunniva had considered several options in its site selection process, including leasing land from the Osoyoos Indian Band in Senkulmen Business Park in Oliver, British Columbia. Ultimately, after consideration of a number of factors, the company decided that the Okanagan Falls site provides superior benefits and flexibility. In addition to allowing Sunniva to purchase and own the land, the site offers potential for future expansion.
Sunniva has completed its preliminary due diligence review of the property, but acquisition remains conditional on finalization of certain final due diligence items and other closing conditions. Closing of the deal is expected to be finalized around June 15, 2018. However, per the terms of the agreement, the company has commenced grading work on the property and submitted its development applications in advance of the closing date.
Sunniva also announced its selection of vendors for the construction of the facility, including:
- Certhon Projects B.V., as supplier of greenhouse superstructure and associated infrastructure, including electrical, irrigation, lighting, heating, cooling and CO2 systems;
- EllisDon Corporation, as construction manager and general contractor;
- MQN Architects, as architect consultants; and
- Urban Systems Ltd., as civil and landscaping engineers.
In an interview with Best of Cannabis in January 2018 (http://ibn.fm/aFB4i), Leith Pedersen, president and co-founder of Sunniva, stated, “At Sunniva, we’re taking a unique approach. For starters, we’re entering the California market first. We have started construction of a state-of-the-art, 500,000-square-foot greenhouse facility in Cathedral City, CA, that will not only be automated and pesticide-free, but reduce the energy and water requirements of commercial-scale marijuana growing by up to 90 percent.” He also stated that the company is focused on two streams – ensuring safe, pesticide-free and consistent medical cannabis products, and improved doctor and patient access to cannabis education.
Sunniva owns Natural Health Services (NHS), Canada’s largest referral network of medical cannabis patients to licensed Canadian producers. NHS also operated seven clinics, serving over 95,000 active patients throughout Western Canada and Ontario. As one of the largest operators in the medical cannabis space in Canada, Sunniva has significant experience in providing patient care in real clinical settings.
Pedersen went on to say, “The medical cannabis market in California is a complex ecosystem. Anyone interested in doing business there not only needs to understand pre-existing stakeholder relationships, but they must invest their time in building trusted public and private sector relationships. We are constructing one of the largest purpose built production facilities in the state. We have taken our time during development to ensure everyone – from community members to state legislators – fully understands our intentions. It has been an intelligent and measured approach. This is how we have been successful.”
For more information, visit the company’s website at www.sunniva.com
About MissionIR
MissionIR is primarily focused on strategic communications. We have executed countless communications programs to address the needs of companies ranging from start-ups to established industry leaders, gaining valuable experience and the expertise necessary to determine the most effective strategy for any given situation.
For more information, visit www.MissionIR.com
MissionIR (MIR)
Atlanta, Georgia
www.MissionIR.com
404.941.8975 Office
Editor@MissionIR.com
Please see full terms of use and disclaimers on the Mission Investor Relations website applicable to all content provided by MIR, wherever published or re-published: http://www.missionir.com/disclaimer.html
