Sunniva Inc C.SNN

NEWS!

[BeerGeek]

"Following the amendment, the purchase price will be settled with CAD $12.9 million in cash and CAD $7.1 million through the issuance of 3,566,687 Series C Convertible, redeemable preferred shares of CannaPharmaRx. Following the settlement of indebtedness of SMI at closing and the mortgage on the Okanagan Falls property, including the previously received CAD $1.9 million in deposits, net cash proceeds at closing to Sunniva are expected to be approximately CAD $7.3 million. The Company and CannaPharmaRx continue to work as expeditiously as possible to get the SMI Transaction completed."


WHOLE ARTICLE LINK

https://www.sunniva.com/newsroom/detail/100/sunniva-inc-announces-amended-terms-of-the-previously

[adonis87]

So is Sunniva being bought out?

[BeerGeek]

Haha. No. Read the whole article.  The terms of the OK Falls sale have been adjusted yet again, but this time it includes a short term closure date which seems like it will actually close this time. Its less cash than we originally wanted, but the likely issue with the deal closing before was a lack of cash on the purchaser's part.  This means we are receiving $12.9M in cashflow

[TrendSwapper]

Only $10K worth of volume today. Investors have abandon this company. Funny that the sale of their property has twice the price tag of their market cap.

[LIVEConspiracy]

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