Sunniva (CSE: SNN) (OTCQX: SNNVF), a vertically integrated cannabis company, this morning announced its acquisition of 100% of LTYR Logistics, LLC, a California-based cannabis distribution company. The primary driver of this acquisition is attributed to LTYR’s strong leadership and proven ability to execute growth strategies using its distribution capabilities within the cannabis space. The company intends to utilize LYTR to secure its position in the California cannabis sector, as the acquisition enables state-wide dissemination of Sunniva branded cannabis products. Kevin Wilkerson, CEO of LTYR, has joined Sunniva as the Chief Operating Officer of Sun CA Holdings, Sunniva’s wholly-owned California operating subsidiary, and will be accountable for all of Sunniva’s California operations. The other co-founders of LTYR, Jay Myers and Brad Neeld, have also joined Sunniva in management roles. They will serve as the Vice President of Sales in California and the Vice President of Distribution, respectively.
“Over the last six months, we have evaluated several distribution opportunities to complement our vertical integration strategy with the goal of being able to sell all of the products we produce in our California facilities. Our operations and marketing teams have been working closely with the LTYR team analyzing consumer market data, demand metrics and pricing economics to better define all upcoming Sunniva product lines in preparation of our brand launches commencing in the first quarter of 2019. Kevin and his team are proven distribution, operations and execution specialists and we have the utmost confidence in their distribution capabilities as Sunniva ramps up for large-scale production in 2019 from both of our high-tech greenhouse and extraction facilities,” Sunniva CEO Dr. Anthony Holler stated in the news release. “Over the past quarter, we have been actively manufacturing and stockpiling inventory for our brand launches and we are excited about achieving significant revenue from all our vertical growth opportunities in 2019.”
To view the full press release, visit http://ibn.fm/ReJqi
About Sunniva Inc.
Sunniva, through its subsidiaries, is a vertically integrated cannabis company operating in the world’s two largest cannabis markets – Canada and California. Its ability to leverage 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, Sunniva intends to launch a suite of branded products in various product categories including flower, pre-rolls, beverages, vape cartridges, and extracts while expanding upstream opportunities including distribution and retail expansion. 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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