Cannapharmarx Inc (CPMD): Big News Today, Another Acquisition, Cas...

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Wednesday, 06/12/2019 2:43:01 PM

Wednesday, June 12, 2019 2:43:01 PM

Big News Today, Another Acquisition, Cash Deal Advances CPMD
Sunniva sells its Okanagan Falls property to Cannapharmarx for C$20M
Jun. 12, 2019 10:53 AM ET| About: CannaPharmaRX, Inc. (CPMD)

Sunniva (OTCQB:SNNVF +1.3%) has agreed to sell Sunniva Medical Inc. (SMI) to CannaPharmaRx Inc. (OTCPK:CPMD) in an all-cash transaction for C$20M less certain outstanding liabilities in SMI, including the mortgage on the property.

SMI owns the Sunniva Canada Campus, which includes construction assets for a planned 759,000 sq. ft. greenhouse located on an ~114-acre property in Okanagan Falls, British Columbia.

Net proceeds payable to Sunniva are anticipated to be ~C$15.5M. The transaction is expected to close on or around July 5, 2019.

https://seekingalpha.com/news/3470795-sunniva-sells-okanagan-falls-property-cannapharmarx-c-20m

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