Sunniva Inc. Announces Ceasing Operations Of Full-Scale Distributors, LLC

Cannabis

Sunniva Inc. ("Sunniva" or the "Company") (CSE: SNN) (OTCQB: SNNVF), announces that as part of its previously stated cost-saving measures through reducing its business activities in California it will be ceasing operations of its wholly-owned subsidiary, Full-Scale Distributors, LLC ("FSD") by the end of February 2020.

"The closing of FSD is a necessary step that will eliminate the cash outlay required to operate that business," stated Dr. Anthony Holler, Chairman & CEO of Sunniva Inc. "We continue to focus on the preservation of our available funds to allow us to actively defend Sunniva's rights under the previously disclosed dispute related to the Build to Suit Lease of the Cathedral City Glasshouse."

While the Company believes that it has strong legal positions with respect to the announced dispute and is taking steps to exert its position, there can be no certainty that the Company will ultimately prevail or that it will be able to deal with all of its debt as it becomes due. 

For more information about the Company please visit www.sunniva.com.

Source: PR NewsWire