Vertically integrated cannabis company Sunniva (CSE: SNN)
(OTCQX: SNNVF) on Monday announced the closing of its 100% acquisition of LTYR
Logistics, LLC (“LTYR”), a California-based cannabis distribution company. Per
the update, with its proven ability to execute growth and cannabis space
distribution capabilities, LYTR will play an instrumental role in driving
Sunniva’s leadership position in California as vertically integrated across the
entire value chain, from seed to sale, with the launch of its Sunniva branded
product line in Q1 of 2019. “We are pleased to have completed this transaction
and we are looking forward to 2019 when the full impact of adding compliant
distribution to our portfolio will be realized,” Sunniva CEO Dr. Anthony Holler
stated in the news release. “Since the original announcement six weeks ago, the
LTYR management team has been integrated into our operations and have been
working closely with our product development and marketing groups to solidify
the strategy for our brand launch set for Q1 2019. We have been
active in securing large quantities of clean biomass and we continue to
manufacture and stockpile inventory for our initial brand launches early in the
new year.”
To view the full press release, visit http://ibn.fm/u25OK
About Sunniva Inc.
Sunniva, through its subsidiaries, is a vertically
integrated cannabis company operating in the world’s two largest cannabis
markets – California and Canada. The company’s ability to leverage our
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 in
California, the company is launching Sunniva branded products in various
product categories including flower, pre-rolls, vape cartridges, and ultra-pure
concentrates. Sunniva has secured complaint distribution in California via its
100% ownership of LTYR that will ensure the placement of Sunniva branded
products at licensed dispensaries throughout the state and the company
continues to aggressively pursue other upstream vertical opportunities.
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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