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Sunniva Announces Receipt Of CAD $1,000,000 Deposit For Sale Of Sunniva Medical Inc. And Announces CAD $5,000,000 Short Term Bridge Financing
Sunniva Announces Receipt Of CAD $1,000,000 Deposit For Sale Of Sunniva Medical Inc. And Announces CAD $5,000,000 Short Term Bridge Financing.
About this update from Sunniva Inc
[{"type":"text","content":"\n\n\n\nSunniva Announces Receipt Of CAD $1,000,000 Deposit For Sale Of Sunniva Medical Inc. And Announces CAD $5,000,000 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.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 Receipt Of CAD $1,000,000 Deposit For Sale Of Sunniva Medical Inc. And Announces CAD $5,000,000 Short Term Bridge Financing\nCanada NewsWire\nVANCOUVER, British Columbia, July 18, 2019\n\n\n\nVANCOUVER, British Columbia, July 18, 2019 /CNW/ -- Sunniva Inc. (\"Sunniva\", the \"Company\", \"we\", \"our\" or \"us\") (CSE: SNN) (OTCQB: SNNVF), a North American provider of cannabis products and services, announced that it has received a non-refundable payment of deposit in the amount of CAD $1,000,000 under the share purchase agreement dated June 11, 2019, pursuant to which Sunniva has agreed to sell Sunniva Medical Inc. (\"SMI\") to CannaPharmaRx, Inc. The closing of the transaction is now anticipated to occur in August.\n\n \n \n\n \nAs a result of the delay in closing, Sunniva is announcing a non-brokered private placement (the \"Offering\") of up to CAD $5,000,000 for a total of 5,000,000 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, CFO, President and CEO of Sunniva's U.S. Operations will be participating in the Offering, which is expected to close on or about July 26, 2019.\n\"As we approach the final steps towards completing our Cathedral City glasshouse and finalizing...