VANCOUVER, British Columbia, July 22, 2019 /CNW/ -- Sunniva Inc. ("Sunniva", the "Company", "we", "our" or "us") (CSE:SNN) (OTCQB:SNNVF), a North American provider of cannabis products and services, announced executive management changes as outlined below.
Kevin Wilkerson has been promoted to President of Sunniva Inc., the corporate parent entity. Mr. Wilkerson will also continue his role as President and CEO of Sun CA Holdings, Inc. ("Sun CA"), the Company's main US subsidiary. Mr. Wilkerson originally joined Sunniva's management team as Chief Operating Officer, Sun CA following the Company's acquisition of LTYR Logistics, LLC in December 2018. Mr. Wilkerson will continue to be responsible for all of Sunniva's California operations while taking on oversight of the Canadian operations through the current sales process of the Okanagan Falls property and the reviewing of strategic initiatives for all of the Company's Canadian assets.
"With the announced potential sale of the OK Falls property and ongoing evaluation of strategic options for the other Canadian assets, we are rapidly approaching completion of our stated plans to focus primarily on the development of our California operations," said Dr. Anthony Holler, CEO of Sunniva. "In a very short timeframe Kevin has proven to be an excellent addition to our senior executive team contributing immediate success in launching our initial cannabis brands through the assimilation of his previous distribution company. He has assembled a strong team around him that we are confident will continue to perform and deliver solid results for the Company and generate significant value for our shareholders."
"I am looking forward to this new role as we fully develop our operations in Cathedral City and expand on our product lines through 2019 and beyond. The near term will see our US team focused on completing the glasshouse and continuing to develop our distribution facility and network of dispensaries in advance of anticipated increased production," said Kevin Wilkerson, President of Sunniva. "The California market, continues to evolve and as we approach our goal of being a fully vertically integrated company, we are in a very strong position to capture value along the entire cannabis value chain."
Benjamin Rootman, Sunniva's General Counsel and Corporate Secretary has announced his resignation from the Company effective August 2, 2019 to accept another opportunity.
"Ben has been part of the Sunniva team since 2017 and has made significant contributions to the growth of our Company and creating the operational framework that we are now benefiting from," commented Dr. Holler. "With the shift of operations and ongoing business development to California, Ben has decided to further his career in a Canadian based company. We appreciate all the hard work and diligence that Ben gave to the Company over the past 2 years and we wish him all the best in his new position,"
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
About Sunniva, Inc. Sunniva, through its subsidiaries, is building a vertically integrated cannabis company operating in two of the world's largest legal cannabis markets – California and Canada. In Canada, Sunniva's wholly owned subsidiary Natural Health Services Ltd. operates medical cannabis clinics that provide educational and clinical services to patients. In California, Sunniva is focused on creating sustainable premium cannabis brands supported by our large-scale, purpose-built cGMP designed greenhouse and extraction facilities. We offer a steadfast commitment to safety and quality assurance providing cannabis products free from pesticides, which positions Sunniva in California as a leading provider of safe, high quality, reproducible products at scale. Through production from Phase One of our strategically positioned 325,000 square foot high technology greenhouse which is nearing completion and our fully operational Extraction Facility in California, we are launching Sunniva branded products in various product categories and price points including flower, pre-rolls, vape cartridges and premium concentrates. Sunniva branded products will be showcased within our flagship dispensary to be located at the greenhouse and our in-house marketing and distribution team will strive to ensure the placement of Sunniva branded products at licensed dispensaries throughout the state. Sunniva's management and board of directors have a proven track record for creating significant shareholder value both in the healthcare and biotech industries.
Forward Looking Statements This press release contains 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 operations and growth opportunities, Sunniva's plans to launch Sunniva-branded products in various product categories including high quality distillate, premium concentrates, vape cartridges, flower, pre-rolls, and beverages, which will be showcased within Sunniva's flagship dispensary, the placement of Sunniva-branded products at licensed dispensaries throughout California 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 Sunniva's continuous disclosure documents available on www.sedar.com. 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.