Sunniva (CSE: SNN) (OTCQX: SNNVF), a vertically integrated
cannabis company, this morning announced its acquisition of 100% of LTYR
Logistics, LLC, a California-based cannabis distribution company. The primary
driver of this acquisition is attributed to LTYR’s strong leadership and proven
ability to execute growth strategies using its distribution capabilities within
the cannabis space. The company intends to utilize LYTR to secure its position
in the California cannabis sector, as the acquisition enables state-wide
dissemination of Sunniva branded cannabis products. Kevin Wilkerson, CEO of
LTYR, has joined Sunniva as the Chief Operating Officer of Sun CA Holdings,
Sunniva’s wholly-owned California operating subsidiary, and will be accountable
for all of Sunniva’s California operations. The other co-founders of LTYR, Jay
Myers and Brad Neeld, have also joined Sunniva in management roles. They will
serve as the Vice President of Sales in California and the Vice President of
Distribution, respectively.
“Over the last six months, we have evaluated several
distribution opportunities to complement our vertical integration strategy with
the goal of being able to sell all of the products we produce in our California
facilities. Our operations and marketing teams have been working closely with
the LTYR team analyzing consumer market data, demand metrics and pricing
economics to better define all upcoming Sunniva product lines in preparation of
our brand launches commencing in the first quarter of 2019. Kevin and his team
are proven distribution, operations and execution specialists and we have the
utmost confidence in their distribution capabilities as Sunniva ramps up for
large-scale production in 2019 from both of our high-tech greenhouse and
extraction facilities,” Sunniva CEO Dr. Anthony Holler stated in the news
release. “Over the past quarter, we have been actively manufacturing and
stockpiling inventory for our brand launches and we are excited about achieving
significant revenue from all our vertical growth opportunities in 2019.”
To view the full press release, visit http://ibn.fm/ReJqi
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. Its ability to leverage large-scale,
purpose-built cGMP designed greenhouses, offering better quality assurance with
cannabis products free from pesticides, uniquely positions Sunniva as a leading
supplier of safe, high quality products at scale. Through its strategically
positioned cultivation and extraction facilities, Sunniva intends to launch a
suite of branded products in various product categories including flower,
pre-rolls, beverages, vape cartridges, and extracts while expanding upstream
opportunities including distribution and retail expansion. 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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