NetworkNewsBreaks – Sunniva Inc. (CSE: SNN) (OTC
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Posted On: 06/18/2018 5:57:05 PM
NetworkNewsBreaks – Sunniva Inc. (CSE: SNN) (OTCQX: SNNVF) Subsidiary Closes Okanagan Falls Property Purchase
Vertically integrated cannabis company Sunniva Inc. (CSE: SNN) (OTCQX: SNNVF) this morning announced that its wholly-owned subsidiary, Sunniva Medical Inc. (“SMI”), has closed the purchase of a 126-acre industrial zoned property in Okanagan Falls, BC. The Sunniva Canada Campus, a facility designed to be a 740,000 sq. ft. Good Manufacturing Practice (“cGMP”) compliant greenhouse, will be located on the newly purchased property. The total consideration of $7 million for the purchase is comprised of a $3.5 million cash payment with the remainder paid through a vendor take back mortgage financing (“VTBMF”). The VTBMF is for a one-year term with an interest rate of 5% per annum. The company also reported that SMI has been issued the required development permits by the Regional District of Okanagan-Similkameen for the construction of the facility.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Vertically integrated cannabis company Sunniva Inc. (CSE: SNN) (OTCQX: SNNVF) this morning announced that its wholly-owned subsidiary, Sunniva Medical Inc. (“SMI”), has closed the purchase of a 126-acre industrial zoned property in Okanagan Falls, BC. The Sunniva Canada Campus, a facility designed to be a 740,000 sq. ft. Good Manufacturing Practice (“cGMP”) compliant greenhouse, will be located on the newly purchased property. The total consideration of $7 million for the purchase is comprised of a $3.5 million cash payment with the remainder paid through a vendor take back mortgage financing (“VTBMF”). The VTBMF is for a one-year term with an interest rate of 5% per annum. The company also reported that SMI has been issued the required development permits by the Regional District of Okanagan-Similkameen for the construction of the facility.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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