Sunniva Inc (SNNVF)

[greenwillow]

CP Logistics, LLC Files Motion To Compel Arbitration In Dispute With Sunniva Production Campus, LLC and Announces The Resignation Of A Board Member

https://www.sunniva.com/newsroom/detail/96/cp-logistics-llc-files-motion-to-compel-arbitration-in

VANCOUVER, British Columbia, Jan. 14, 2020 /CNW/ -- Sunniva Inc. ("Sunniva" or the "Company") (CSE:SNN) (OTCQB:SNNVF), announces that its wholly owned subsidiary, CP Logistics, LLC ("CPL"), has filed a Motion to Compel Arbitration ("Motion") in California Superior Court for the County of Los Angeles (the "Court"), seeking to compel Sunniva Production Campus, LLC ("SPCL") to arbitrate its claim that CPL breached the payment terms of an Amended and Restated Promissory Note dated August 11, 2019 (the "Note") and to stay the Court action SPCL commenced on December 11, 2019 with respect to the Note. Through the filing of the Motion, CPL has asked the Court to restrain SPCL from attempting to avoid the Arbitration process. The hearing on the Motion is currently set for May 28, 2020.

(PRNewsfoto/Sunniva Inc.)

The Company also is continuing to assert its rights under the build to suit lease agreement dated October 20, 2017, (the "Lease") with SPCL for the construction of the Sunniva California Campus in Cathedral City, California. On December 23, 2019, the Company submitted a Demand for Arbitration and Notice of Claims with JAMS, the world's largest private alternative dispute resolution provider, to initiate the arbitration process pursuant to the dispute resolution provisions of the Lease agreement for the property located at 69375 Ramon Road, Cathedral City, California. SPCL is an independent entity related to Barker Pacific Group, Inc.

In addition, Todd Patrick, a board director, has resigned from the Sunniva Board of Directors effective January 13, 2020.

"On behalf of our board of directors, I thank Todd for his service and contributions to Sunniva and wish him well in all his future endeavors," stated Dr. Anthony Holler, Chairman & CEO of Sunniva Inc.

For more information about the Company please visit: www.sunniva.com.