Business
Sunniva Announces Closing Of CAD $5.77 Million Short Term Bridge Financing
Sunniva Announces Closing Of CAD $5.77 Million Short Term Bridge Financing.
About this update from Sunniva Inc
[{"type":"text","content":"\n\n\n\nSunniva Announces Closing Of CAD $5.77 Million Short Term Bridge Financing\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.prngen3{\nBORDER-TOP:1pt; BORDER-RIGHT:1pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:1pt; TEXT-ALIGN: RIGHT; PADDING-LEFT:0.50em; BORDER-LEFT:1pt; PADDING-RIGHT:0.50em\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 Closing Of CAD $5.77 Million Short Term Bridge Financing\nCanada NewsWire\nVANCOUVER, British Columbia, Aug. 1, 2019\n\n\n\nNot for Dissemination in the United States or for Distribution to U.S. Newswire Services\n VANCOUVER, British Columbia, Aug. 1, 2019 /CNW/ -- Sunniva Inc. (\"Sunniva\", the \"Company\", \"we\", \"our\" or \"us\") (CSE:SNN) (OTCQB:SNNVF), a North American provider of cannabis products and services, announces the closing of its previously announced non-brokered private placement (the \"Offering\") of CAD $5,772,879 for a total of 5,772,879 units of the Company (\"Units\"). Proceeds of the Offering will be used to provide short term working capital for operations in California, capital costs at the Sunniva California Campus and general corporate purposes. Each Unit consists of a principal amount of unsecured promissory notes of the Company (\"Promissory Notes\") and common share purchase warrants of the Company (\"Warrants\"). Certain members of Sunniva's senior management team including the CEO, President and CFO participated in the Offering subscribing, directly or indirectly, for CAD $1,619,955 for a total of 1,619,955 Units which demonstrates management and insiders' commitment to the Company. The Company anticipates holding a secondary closing of the Offering within the next 10 days.\n\n \n \n\n \n  The Units issued under the Offering have the following terms:\nPromissory Notes\n·  Maturity:\n6 months from the closing date.  \n&...