Business
Sunniva Announces Record Preliminary Q1 2019 Revenue Of CAD $14.0 Million (USD $10.5 Million), Representing Growth Of 169% Over Q1 2018
Sunniva Announces Record Preliminary Q1 2019 Revenue Of CAD $14.0 Million (USD $10.5 Million), Representing Growth Of 169% Over Q1 2018.
About this update from Sunniva Inc
[{"type":"text","content":"\n\n\n\nSunniva Announces Record Preliminary Q1 2019 Revenue Of CAD $14.0 Million (USD $10.5 Million), Representing Growth Of 169% Over Q1 2018\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; 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 Record Preliminary Q1 2019 Revenue Of CAD $14.0 Million (USD $10.5 Million), Representing Growth Of 169% Over Q1 2018\n- Q1 2019 revenue from Sunniva branded sales in California of CAD $10.0 million (USD $7.5 million)\n- 2019 revenue estimate of CAD $72-$78 million (USD $55-$60 million) from Sunniva branded sales in California\nPR Newswire\nVANCOUVER, British Columbia, April 5, 2019\n\n\n\nVANCOUVER, British Columbia, April 5, 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 preliminary revenue of $14.0 million for the three month period ended March 31, 2019.  This represents a 169% increase over the $5.2 million in revenue generated in the comparative three-month period from 2018. All figures are reported in Canadian dollars ($), unless otherwise indicated. \nIn California, Sunniva began selling cannabis products in the first three months of 2019 through its wholly-owned subsidiary, CP Logistics, LLC (\"CPL\") with preliminary revenue of $10.0 million (USD $7.5 million). Revenue was comprised of product sales from premium flower, vape cartridges and concentrates. In March, Sunniva unveiled its first three in-house brands, Sun Fire, KYNDNESS and Herbella, and announced that additional super premium brands will be launched in conjunction with production from the 325,000 sq. ft. purpose-built greenhouse under construction in Cathedral City, California (the \"Sunniva California Campus\").\nThe Company's other wholly owned subsidiaries, Full-Scale Distributors, LLC (\"F...