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://cnw.fm/ZMw2T). 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.”
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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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