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Sunniva Announces Acquistion Of Two Licenced Cannabis Companies To Expand Its Packaging And Distribution Capabilities In California
Sunniva Announces Acquistion Of Two Licenced Cannabis Companies To Expand Its Packaging And Distribution Capabilities In California.
About this update from Sunniva Inc
[{"type":"text","content":"\n\n\n\nSunniva Announces Acquistion Of Two Licenced Cannabis Companies To Expand Its Packaging And Distribution Capabilities In California\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nBORDER-TOP:1pt; BORDER-RIGHT:1pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:1pt; PADDING-LEFT:0.50em; BORDER-LEFT:1pt; PADDING-RIGHT:0.50em\n}\n.prntblns{\nBORDER-TOP: 1pt; BORDER-RIGHT: 1pt; BORDER-COLLAPSE: collapse; BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt\n}\n\n\n\n\n\n\nSunniva Announces Acquistion Of Two Licenced Cannabis Companies To Expand Its Packaging And Distribution Capabilities In California\nPR Newswire\nVANCOUVER, British Columbia, April 29, 2019\n\n\n\n- Acquiring two California entities holding temporary distribution and manufacturing licences, respectively.\n- Assumption of leases for a total of 6,662 sq. ft premises in a Coachella, CA.  \n- Expands capacity for storage, sorting, packaging and distribution of branded cannabis products\n VANCOUVER, British Columbia, April 29, 2019 /PRNewswire/ -- Sunniva Inc. (\"Sunniva\", the \"Company\", \"we\", \"our\" or \"us\") (CSE:SNN) (OTCQB:SNNVF), a North American provider of cannabis products and services, is pleased to announce that its wholly-owned subsidiary, CP Logistics, LLC (\"CPL\") has acquired an 80% membership interest in 420 Distribution, LLC (\"420\") and Coachella Distillation, LLC (\"Coachella\") (collectively, the \"Companies\") from Group Two Investments, LLC (\"Group Two\") and will assume the existing leases of the commercial property located in Coachella, CA. The total consideration for the Companies was not material (the \"Purchase Price\").\n\n \n \n\n \n420 currently holds a temporary distribution license from the California Bureau of Cannabis Control (\"BCC\") and Coachella currently holds a temporary type \"P\" manufacturing license from the California Department of Public Health (\"CDPH\") (collectively the \"Licenses\"). The Licenses are set to expire on April 30, 2019 and July 26, 2019, respectively.  In connection with closing the acquisition, the Companies will file annual licence applications fo...