Business
Sunniva Announces Acquisition of California Distribution Company to Allow for State-Wide Dissemination of Sunniva Branded Cannabis Products
Sunniva Announces Acquisition of California Distribution Company to Allow for State-Wide Dissemination of Sunniva Branded Cannabis Products.
About this update from Sunniva Inc
[{"type":"text","content":"\nLTYR Logistics, LLC to become Sunniva’s logistics and technology distribution platform to drive sales from Sunniva’s large-scale cannabis production facilities, following the launch of Sunniva branded products commencing Q1 2019Sunniva acquires highly skilled management and sales team with a retail network of more than 120 licensed retail dispensaries throughout California Compliant distribution is a vital segment of the highly regulated California cannabis industry with track and trace implementation coming in January 2019. For all movement of cannabis products in California, distributors are subject to additional responsibility for product testing and safety as well as state tax collection VANCOUVER, British Columbia, Nov. 27, 2018 (GLOBE NEWSWIRE) -- Sunniva Inc. (“Sunniva” or the “Company”) (CSE: SNN) (OTCQB: SNNVF), today announced the acquisition of 100% of LTYR Logistics, LLC (“LTYR”) (the \"Acquisition\"), a California-based cannabis distribution company headquartered in San Diego. LTYR’s strong leadership and proven ability to effectively execute growth strategies utilizing its distribution capabilities within the cannabis space are the primary drivers of this acquisition. LYTR will play an instrumental role in driving Sunniva’s leadership position in California as a truly vertically integrated cannabis company across the entire value chain, from seed to sale.\n Kevin V. Wilkerson (CEO) leads the LTYR team and has joined Sunniva as the Chief Operating Officer of Sun CA Holdings, Sunniva’s 100% owned California operating subsidiary. Mr. Wilkerson is a Harvard Masters degree graduate and has been a successful entrepreneur in numerous businesses. Kevin has been active in the cannabis space since 2014, providing operations, distribution logistics and technology expertise to the industry. He retired as a Colonel in the US Army after a distinguished 24 year career where he commanded over 4,000 troops and received the Bronze Star. In connection with the acquisition, Mr. Wilkerson will be responsible for all of Sunniva’s California operations. The other co-founders of LTYR have also joined Sunniva in various management roles. Jay Myers will become Vice President of Sales in California and Brad Neeld will become Vice President of Distribution. Mr. Myers ha...