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CALGARY, Alberta, Nov. 17, 2017 (GLOBE NEWSWIRE) -- Sunniva Inc. ("Sunniva" or "the Company"), a North American provider of medical cannabis products and services, is pleased to announce that it has filed and obtained a receipt for its final prospectus (the 'Prospectus') from the securities regulatory authorities in British Columbia, Alberta and Ontario.
The Prospectus qualifies the distribution of 94,878 common shares of the Company issuable upon the exercise of 86,253 special warrants (the 'Special Warrants'). The Special Warrants were issued as part of a larger offering of 983,753 special warrants of the Company (the 'Offering Special Warrants') at a price of $6.75 per Offering Special Warrant to purchasers in British Columbia, Alberta and Ontario on a private placement basis pursuant to prospectus exemptions under applicable securities legislation.
The Special Warrants were issued pursuant to the terms of special warrant certificates issued by the Company and an agency agreement dated June 27, 2017 among the Company, Canaccord Genuity Corp. and Beacon Securities Limited.
A copy of the Prospectus is available on SEDAR at .
The Company has received conditional approval from the Canadian Securities Exchange ('CSE') for the listing of its common shares on the CSE, subject to the completion of customary requirements of the CSE, including the receipt of all required documentation. Once final approval is received, the common shares of the Company will commence trading under the trading symbol: SNN. Subject to satisfying all conditions of the CSE, the Company expects the common shares of the Company will commence trading on the CSE in the next two weeks.
About Sunniva Inc.
Headquartered in Western Canada, Sunniva (formerly Sunniva Holdings Corp.) is a vertically integrated medical cannabis company committed to improving the quality of human life through its planned delivery of low cost, high-quality medical cannabis and better access to physician-led therapies and delivery methods. Sunniva brings legitimacy to the nascent medical cannabis market through state-of-the-art technology, strict regulatory compliance, safety and education. Sunniva operates in Canada and California and plans to cultivate, produce and distribute a broad range of solutions focused on patients' needs. Sunniva operates through its wholly owned subsidiaries - CP Logistics, Sunniva Medical, Natural Health Services and Full-Scale Distributors.
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Forward-Looking Statements:
This press release and the Prospectus contain forward-looking statements within the meaning of applicable securities laws. All statements 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 regarding Sunniva's plan to cultivate, produce and distribute a broad range of solutions focused on patients' needs and Sunniva's plan to list on the CSE, the timing and expectation that the common shares of the Company will commence trading in the next two weeks, are "forward-looking statements." Forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward looking statements. Such risks and uncertainties include, among others, the risk factors included in the Prospectus, including without limitation, dependence on obtaining and maintaining regulatory approvals, including acquiring and renewing state, local or other licenses and any inability to obtain all necessary governmental approvals licenses and permits to complete construction of its proposed facilities in a timely manner; engaging in activities which currently are illegal under US federal law and the uncertainty of existing protection from U.S. federal or other prosecution; regulatory or political change such as changes in applicable laws and regulations, including U.S. state-law legalization, particularly in California, due to inconsistent public opinion, perception of the medical-use and adult-use marijuana industry, bureaucratic delays or inefficiencies or any other reasons; any other factors or developments which may hinder market growth; Sunniva's limited operating history and lack of historical profits; reliance on management; and the effect of capital market conditions and other factors on capital availability; competition, including from more established or better financed competitors; and the need to secure and maintain corporate alliances and partnerships, including with customers and suppliers. Readers are encouraged to the review the section titled 'Risk Factors' in Sunniva's Prospectus. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. Although Sunniva has attempted to identify important risk factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other risk factors that cause actions, events or results to differ from those anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in forward-looking statements. Sunniva assumes no obligation to update any forward-looking statement, even if new information becomes available as a result of future events, new information or for any other reason except as required by law.
Contact Information
Dr. Anthony Holler
Co-founder, Chairman and Chief Executive Officer
587-430-0680
MENAFN1711201700703653ID1096105207
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