Wednesday, October 17, 2018

MissionIRNewsBreaks – Sunniva Inc. (CSE: SNN) (OTCQX: SNNVF) Details Proposed Acquisition of Oakland Vision Project


Vertically integrated cannabis company Sunniva Inc. (CSE: SNN) (OTCQX: SNNVF) this morning announced its entry into a non-arm’s length binding letter of intent to acquire all of the issued and outstanding equity interests of the Oakland Vision Project (“Vision”). Per the update, Vision is co-owned by Vinayak Shastry, Sunniva’s president of U.S. operations, and operates a licensed cultivation facility located in Irvine, California. “This acquisition will deliver full vertical integration in California that strategically enhances the value of the Sunniva brand,” Leith Pedersen, president of Sunniva, stated in a news release. “Production from this facility will allow Sunniva to launch its first premium-quality craft flower brand with the assurance of large-scale production from this facility and the large-scale 325,000 sqft purpose-built, high technology Sunniva California Campus greenhouse… This acquisition and our state-of-the-art cultivation and extraction facility positions us as a market leader in California.” Completion of the proposed acquisition remains subject to a number of conditions, including the negotiation and execution of a definitive agreement between Sunniva and Vision, completion of due diligence and receipt of regulatory approvals.

To view the full press release, visit http://ibn.fm/rGYuq

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

About MissionIRNewsBreaks

MissionIRNewsBreaks provide a rapid summary of corporate news that catch the attention of MissionIR. MissionIRNewsBreaks are created by our Team of professional journalists that keep a constant eye on the markets, these posts are designed to inform you on the latest happenings of our clients and other publicly traded companies on our radar. From earnings, acquisitions and agreements to conference attendance and clinical study results, our news breaks keep you up-to-date with the day’s top movers. 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.

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