WEED partners...HIKU/SNN
Sunniva to sell Canopy 45,000 kg cannabis per year
2018-02-21 09:27 ET - News Release
Also News Release (C-WEED) Canopy Growth Corp
Mr. Mark Zekulin of Canopy Growth reports
CANOPY GROWTH CORPORATION AND SUNNIVA INC. SIGN CANNABIS SUPPLY AGREEMENT
Canopy Growth Corp. and Sunniva Inc. have signed a definitive supply agreement whereby Sunniva, through its wholly owned subsidiary in Canada, Sunniva Medical Inc., has committed to sell Canopy 45,000 kilograms of premium quality cannabis annually over an initial two-year period commencing in the calendar first quarter of 2019.
Under the terms of the agreement, Canopy Growth will purchase up to 45,000 kilograms of dried cannabis annually. Canopy Growth and Sunniva will share in the revenues as product is sold through Canopy Growth's distribution network including its on-line marketplace, Tweed Main Street and via provincial distribution channels. The revenue share will be based on the strain, sales channel and other relevant factors. The agreement is subject to SMI receiving its licence from Health Canada, which is currently in the final review stage, and completing the Sunniva Canada Campus -- a 700,000-square-foot GMP greenhouse facility in British Columbia, Canada.