Vertically integrated cannabis company Sunniva Inc. (CSE:
SNN) (OTCQX: SNNVF) this morning announced that its wholly-owned subsidiary,
Sunniva Medical Inc. (“SMI”), has closed the purchase of a 126-acre industrial
zoned property in Okanagan Falls, BC. The Sunniva Canada Campus, a facility
designed to be a 740,000 sq. ft. Good Manufacturing Practice (“cGMP”) compliant
greenhouse, will be located on the newly purchased property. The total
consideration of $7 million for the purchase is comprised of a $3.5 million
cash payment with the remainder paid through a vendor take back mortgage
financing (“VTBMF”). The VTBMF is for a one-year term with an interest
rate of 5% per annum. The company also reported that SMI has been issued the
required development permits by the Regional District of Okanagan-Similkameen
for the construction of the facility.
To view the full press release, visit http://ibn.fm/rsisw
About Sunniva Inc.
Sunniva, through its subsidiaries, is a vertically
integrated cannabis company operating in the world’s two largest cannabis
markets – Canada and California – where we are committed to delivering safe,
high-quality products and services at scale. Our vision is to become the lowest
cost, highest quality cannabis producer in the markets we serve by building
large scale purpose-built current Good Manufacturing Practice (“cGMP”) designed
greenhouses, offering better quality assurance with cannabis products free from
pesticides, providing better patient and doctor access to cannabis education
and sourcing better therapeutic delivery devices. Sunniva’s management and
board of directors have a proven track record for creating significant
shareholder value both in the healthcare and biotech industries. For more
information, visit the company’s website at www.sunniva.com.
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