Vertically integrated cannabis company Sunniva (CSE: SNN)
(OTCQX: SNNVF) this morning announced that it has secured more than USD $2.4
million in future sales of Sunniva branded cannabis products, to be completed
in the first four months of 2019. Achieved through one of the company’s
existing retail relationships, this marks Sunniva’s first cannabis product
sales in the state of California, and it anticipates securing additional sales
contracts in the near future. Sunniva’s current product inventory is estimated
at a value in excess of USD $5 million and consists of ultrapure cannabis
distillate, premium concentrates and flower. The company intends to launch
additional Sunniva branded product lines during Q1 of 2019. “We look forward to
demonstrating our ability to manufacture and sell premium cannabis products in
California as we build our Sunniva house of brands,” Sunniva Chief Executive
Officer Dr. Anthony Holler stated in the news release. “The recent LTYR
Logistics acquisition has provided us with the final vertical business segment
required to sell our branded products. Their existing relationships
throughout California provide the key component for us to recognize the full
value of our licensed and operational extraction facility, our device and
hardware business, Vapor Connoisseur, and ultimately the purpose-built, high
technology 325,000 square foot greenhouse in Cathedral City.”
To view the full press release, visit http://ibn.fm/6gu9N
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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