Vertically integrated medical cannabis company Sunniva (CSE: SNN) (OTCQX: SNNVF) this morning announced that after reviewing several options, it has chosen a 126 acre Okanagan Falls, British Columbia site to build its Canadian facility. Sunniva Medical Inc., a wholly-owned subsidiary of the company, has entered into a purchase and sale agreement to obtain the entire 126-acre industrial zoned property for $7 million. Closing of the acquisition is conditional to certain due diligence items and other conditions customary in transactions of this nature, although the company’s preliminary due diligence review of the property has been completed. Close of the transaction is anticipated on or about June 15, 2018. Per the terms of the agreement, Sunniva has submitted its development applications in advance of the closing date and grading work has begun on the property.
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About Sunniva Inc.
Sunniva, through its subsidiaries, is a vertically integrated medical cannabis company operating in the world’s two largest cannabis markets – Canada and California – where it is committed to delivering safe, high-quality products and services at scale. The company’s vision is to become the lowest cost, highest quality cannabis producer in the markets it serves by building large scale purpose-built current good manufacturing practices 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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