NetworkNewsBreaks – Sunniva Inc. (CSE: SNN) (OTC
Post# of 66
(Total Views: 545)
Posted On: 10/17/2018 5:13:03 PM
NetworkNewsBreaks – Sunniva Inc. (CSE: SNN) (OTCQX: SNNVF) Details Proposed Acquisition of Oakland Vision Project
Vertically integrated cannabis company Sunniva Inc. (CSE: SNN) (OTCQX: SNNVF) this morning announced its entry into a non-arm’s length binding letter of intent to acquire all of the issued and outstanding equity interests of the Oakland Vision Project (“Vision”). Per the update, Vision is co-owned by Vinayak Shastry, Sunniva’s president of U.S. operations, and operates a licensed cultivation facility located in Irvine, California. “This acquisition will deliver full vertical integration in California that strategically enhances the value of the Sunniva brand,” Leith Pedersen, president of Sunniva, stated in a news release. “Production from this facility will allow Sunniva to launch its first premium-quality craft flower brand with the assurance of large-scale production from this facility and the large-scale 325,000 sqft purpose-built, high technology Sunniva California Campus greenhouse… This acquisition and our state-of-the-art cultivation and extraction facility positions us as a market leader in California.” Completion of the proposed acquisition remains subject to a number of conditions, including the negotiation and execution of a definitive agreement between Sunniva and Vision, completion of due diligence and receipt of regulatory approvals.
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 its entry into a non-arm’s length binding letter of intent to acquire all of the issued and outstanding equity interests of the Oakland Vision Project (“Vision”). Per the update, Vision is co-owned by Vinayak Shastry, Sunniva’s president of U.S. operations, and operates a licensed cultivation facility located in Irvine, California. “This acquisition will deliver full vertical integration in California that strategically enhances the value of the Sunniva brand,” Leith Pedersen, president of Sunniva, stated in a news release. “Production from this facility will allow Sunniva to launch its first premium-quality craft flower brand with the assurance of large-scale production from this facility and the large-scale 325,000 sqft purpose-built, high technology Sunniva California Campus greenhouse… This acquisition and our state-of-the-art cultivation and extraction facility positions us as a market leader in California.” Completion of the proposed acquisition remains subject to a number of conditions, including the negotiation and execution of a definitive agreement between Sunniva and Vision, completion of due diligence and receipt of regulatory approvals.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
(0)
(0)