/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES./
VANCOUVER, Sept. 19, 2018 /CNW/ - Sunniva Inc.
("Sunniva" or the "Company"), (CSE:SNN) (OTCQX:SNNVF) is pleased to announce that it has amended the
terms of its previously announced bought deal offering of units (the "Units") of the Company (the "Offering").
Under the amended terms of the Offering, a syndicate of underwriters (the "Underwriters") co-led by Beacon Securities
Limited ("Beacon") and Canaccord Genuity Corp. have agreed to purchase, on a bought deal basis, 3,800,000 Units at a price
of $5.27 per Unit (the "Offering Price") for aggregate gross proceeds to the Company of
$20,026,000. (All figures are in Canadian dollars unless otherwise stated).
Each Unit shall consist of one common share (a "Common Share") in the capital of the Company and one-half (1/2) of one
common share purchase warrant (each whole warrant, a "Warrant") of the Company. Each whole Warrant shall entitle the
holder thereof to acquire one Common Share at an exercise price per Common Share of $6.85 for a
period of 24 months from the Closing Date (as defined below).
The closing of the Offering is expected to occur on or about October 10, 2018 (the "Closing
Date") and is subject to the completion of formal documentation and receipt of regulatory approval, including the approval of
the Canadian Securities Exchange. The net proceeds from the Offering will be used for working capital and general corporate
purposes.
The Company has granted the Underwriters an option (the "Over-Allotment Option"), exercisable, in whole or in part, by
Beacon, on behalf of the Underwriters, giving notice to the Company at any time and from time to time up to 30 days following the
Closing Date, to purchase, or to find substituted purchasers for, up to an additional number of Units equal to 15% of the number
of Units sold pursuant to the Offering at the Offering Price to cover over-allotments, if any, and for market stabilization
purposes.
The Units to be issued under the Offering will be offered by way of a short form prospectus to be filed in the provinces of
British Columbia, Alberta and Ontario (and such other provinces as agreed between the Company and the Underwriters) and may be offered in
the United States to Qualified Institutional Buyers pursuant to exemptions from the registration
requirements under rule 144A of the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), in a
manner that does not require the Units to be registered in the United States. The Units may also
be sold in such other jurisdictions as the Company and Beacon may agree. This press release does not constitute an offer to sell
or the solicitation of an offer to buy securities in the United States, nor in any other
jurisdiction.
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. Our ability to
leverage our 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 our
strategically positioned cultivation and extraction facilities, we are launching Sunniva branded products in various product
categories including flower, pre-rolls, beverages, vape cartridges, extracts and now aggressively pursuing upstream vertical
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 please visit: www.sunniva.com
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.
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 relating to the timing for the completion of the Offering and
the use of proceeds therefrom, future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations
or beliefs of future performance, statements regarding the terms, conditions, timing and completion of strategic initiatives;
stock exchange listings; unlocking of value; Sunniva's plan to cultivate, produce , manufacture and distribute a broad range of
solutions focused on patients' and customers' needs and Sunniva's plans; timing and estimates for its facilities; 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
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.
SOURCE Sunniva Inc.
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