Vertically integrated cannabis company Sunniva (CSE: SNN) (OTCQX: SNNVF) today announced that it has secured an additional USD $4.0 million in purchase orders from select retail dispensaries in southern California for Sunniva branded cannabis products. This increases the total to USD $11.5 million in sales orders received to date for products to be sold in the first four months of 2019. Sunniva expects continued sales volume growth and, in 2019, estimates USD $55-$60 million in revenue from sales of its branded products in California, from those manufactured in its licensed extraction facility and through purchase of compliant third-party flower from strategic relationships that is packaged, branded, distributed and sold. During the ramp up stage of operations in California, Sunniva estimates combined gross margin of 40 to 50 percent from these product lines. These revenues do not include Full Scale Distributors, LLC, the California large-scale high technology greenhouse or Natural Health Services Ltd.’s clinics in Canada.
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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 its 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, it is launching Sunniva branded products in various product categories including flower, pre-rolls, vape cartridges and premium concentrates. The company’s compliant distribution in California will ensure the placement of Sunniva branded products at licenced dispensaries throughout the state. It continues to 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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