Sunniva (CSE: SNN) (OTCQX: SNNVF) recently revealed its
intention to raise C$20 million through the sale of units of the company to a
syndicate of underwriters, detailed in a company press release (http://ibn.fm/HVqPi). The terms
of the sale are an amendment of a previously announced agreement to sell 1.9
million units. An article discussing the company’s plan reads, “Sunniva
announced that the syndicate will purchase 3.8 million units priced at C$5.27
per unit, an amendment of the previously publicized agreement which said that
the syndicate was to buy 1.9 million units. Subject to the approval of the
Canadian Securities Exchange, the closing date of the deal will be October 10.
The funds realized from the sale will go toward working capital, among other
corporate expenses.”
To view the full article, visit http://ibn.fm/TNIFl
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 – where it is committed to delivering safe,
high-quality products and services at scale and creating trusted Sunniva
branded cannabis products. The company’s vision is to become one
of the lowest cost, highest quality vertically integrated cannabis
producers in the markets it serves by building large scale purpose-built
current cGMP designed greenhouses
and expansion of retail locations, offering better quality
assurance with cannabis products free from pesticides, providing
better customer 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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