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.”
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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 – 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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