NetworkNewsBreaks – Sunniva Inc. (CSE: SNN) (OTC
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Posted On: 02/14/2019 2:36:43 PM
NetworkNewsBreaks – Sunniva Inc. (CSE: SNN) (OTCQX: SNNVF) Secures Additional $4M in Purchase Orders, Expects More Than $55M in 2019 Revenue from Branded Products
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.
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 (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.
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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