Business
Sunniva Inc. Announces Agreement To Sell Its Okanagan Falls Property For CA$6,800,000
Sunniva Inc. Announces Agreement To Sell Its Okanagan Falls Property For CA$6,800,000.
About this update from Sunniva Inc
[{"type":"text","content":"\n\n\n\nSunniva Inc. Announces Agreement To Sell Its Okanagan Falls Property For CA$6,800,000\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\n\n\n\n\n\nSunniva Inc. Announces Agreement To Sell Its Okanagan Falls Property For CA$6,800,000\nCanada NewsWire\nVANCOUVER, BC, July 22, 2020\n\n\n\nVANCOUVER, BC, July 22, 2020 /CNW/ -- Sunniva Inc. (\"Sunniva\", the \"Company\", \"we\", or \"our\") (CSE:SNN, OTCQB:SNNVF) announces that on July 21, 2020, its wholly-owned subsidiary 1167025 B.C. Ltd entered into a Purchase and Sale Agreement (the \"Sale Agreement\") with a British Columbia investment company (the \"Buyer\") pursuant to which it has agreed to sell the OK Falls Property to the Buyer for gross proceeds of CA$6,800,000 (the \"Transaction\"). Closing of the Transaction is subject to completion of due diligence and confirmation of the waiver of conditions of the Property by the Buyer, but is not subject to a financing condition. Closing is expected to occur on or before August 10, 2020. Following discharge of the existing mortgage on the OK Falls Property and other anticipated closing costs, including legal fees and a 3% commission payable to the agent for the Buyer, net cash proceeds at closing to Sunniva are expected to be approximately CA$3.2 million.  Sunniva will retain ownership of 1167025 B.C. Ltd. and various equipment and assets currently on site. \n\n \n \n \n \n \n \n\n \nFor more information about the Company please visit: www.sunniva.com \nThe Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.\nCautionary Note Regarding Forward-Looking Information or Statements\nThis press release contains forward-looking information or statements. All statements or information that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, statements the anticipated closing date of the Transaction, the closing conditions and the estimated net cash proceeds f...