Vertically integrated cannabis company Sunniva (CSE: SNN) (OTCQX: SNNVF) on Monday announced the closing of its 100% acquisition of LTYR Logistics, LLC (“LTYR”), a California-based cannabis distribution company. Per the update, with its proven ability to execute growth and cannabis space distribution capabilities, LYTR will play an instrumental role in driving Sunniva’s leadership position in California as vertically integrated across the entire value chain, from seed to sale, with the launch of its Sunniva branded product line in Q1 of 2019. “We are pleased to have completed this transaction and we are looking forward to 2019 when the full impact of adding compliant distribution to our portfolio will be realized,” Sunniva CEO Dr. Anthony Holler stated in the news release. “Since the original announcement six weeks ago, the LTYR management team has been integrated into our operations and have been working closely with our product development and marketing groups to solidify the strategy for our brand launch set for Q1 2019. We have been active in securing large quantities of clean biomass and we continue to manufacture and stockpile inventory for our initial brand launches early in the new year.”
To view the full press release, visit http://ibn.fm/u25OK
About Sunniva Inc.
Sunniva, through its subsidiaries, is a vertically integrated cannabis company operating in the world’s two largest cannabis markets – California and Canada. The company’s ability to leverage our large-scale, purpose-built cGMP designed greenhouses, offering better quality assurance with cannabis products free from pesticides, uniquely positions Sunniva as a leading supplier of safe, high quality products at scale. Through its strategically positioned cultivation and extraction facilities in California, the company is launching Sunniva branded products in various product categories including flower, pre-rolls, vape cartridges, and ultra-pure concentrates. Sunniva has secured complaint distribution in California via its 100% ownership of LTYR that will ensure the placement of Sunniva branded products at licensed dispensaries throughout the state and the company continues to aggressively pursue other upstream vertical opportunities. Sunniva’s management and board of directors have a proven track record for creating significant shareholder value both in the healthcare and biotech industries. For more information, visit the company’s website at www.Sunniva.com
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