Sunniva Inc. has announced the completion of the non-brokered offering of convertible debentures. The originally announced $10 million financing was over-subscribed with gross proceeds received of CAD $15,042,055. This Financing provides additional working capital to enable Sunniva to meet the near term sales demand for Sunniva branded cannabis products in California and for general corporate purposes. The Financing included two insiders of the Company subscribing, directly or indirectly, for a total of CAD $2.3 million which demonstrates management and insiders’ commitment to the Company.
The team with the company pointed out that "The Convertible Debentures offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements".
For more information:
Sunniva
Suite 400, 355 – 4th Avenue S.W.
Calgary, AB T2P 0J1
1-866-SUNNIVA
[email protected]
sunniva.com
