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Sunniva Inc. Announces Amended Terms Of The Previously Announced Sale Of Sunniva Medical Inc. To CannaPharmarx And Revised Closing Date For The Second Tranche Of USD $7,500,000 Debt Financing
Sunniva Inc. Announces Amended Terms Of The Previously Announced Sale Of Sunniva Medical Inc. To CannaPharmarx And Revised Closing Date For The Second Tranche Of USD $7,500,000 Debt Financing.
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[{"type":"text","content":"\n\n\n\nSunniva Inc. Announces Amended Terms Of The Previously Announced Sale Of Sunniva Medical Inc. To CannaPharmarx And Revised Closing Date For The Second Tranche Of USD $7,500,000 Debt 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 Inc. Announces Amended Terms Of The Previously Announced Sale Of Sunniva Medical Inc. To CannaPharmarx And Revised Closing Date For The Second Tranche Of USD $7,500,000 Debt Financing\nCanada NewsWire\nVANCOUVER, British Columbia, Oct. 3, 2019\n\n\n\nNot for Dissemination in the United States or for Distribution to U.S. Newswire Services\n VANCOUVER, British Columbia, Oct. 3, 2019 /CNW/ -- Sunniva Inc. (\"Sunniva\", the \"Company\", \"we\", \"our\" or \"us\") (CSE:SNN, OTCQB:SNNVF) and CannaPharmaRx, Inc. (\"CannaPharmaRx\") (OTC Pink: CPMD) announce that they are amending the terms of the Share Purchase Agreement announced on June 11, 2019 with respect to the sale of Sunniva Medical Inc. (\"SMI\") to CannaPharmaRx (the \"SMI Transaction\"). Sunniva has agreed to amend the settlement of the purchase price to CAD $16.0 million in cash and CAD $4.0 million by way of a promissory note of CPMD (the \"CPMD Note\") from the previous all-cash settlement of $20 million. Sunniva will receive an incremental non-refundable deposit as part of the amended terms. The Company and CPMD continue to work as expeditiously as possible to get the transaction completed. \n\n \n \n\n \nSMI owns the Sunniva Canada Campus, which includes construction assets for a planned 759,000 square foot greenhouse located on an approximately 114-acre property in Okanagan Falls, British Columbia. \nIn addition, Sunniva announces a revision to the closing date for the USD $6,000,000 Second Tranche of the non-brokered private placement (the \"Offering\") of USD $7,500,000 previously annou...