U.S. Markets open in 6 hrs 34 mins

Sunniva Announces Changes to Senior Leadership Team for U.S. Operations

Company Appoints Kevin Wilkerson as President of Sun CA Holdings and Hires Mary Patton as Vice President of Marketing to Continue to Build Out Sunniva Branded Cannabis Products

VANCOUVER, British Columbia, Jan. 31, 2019 (GLOBE NEWSWIRE) -- Sunniva Inc. (“Sunniva” or the “Company”) (CSE:SNN) (OTCQB:SNNVF), a North American provider of cannabis products and services, announces changes to its California leadership team for the growth of the Sunniva-branded product lines to be sold throughout 2019. Kevin Wilkerson has been promoted to President of Sun CA Holdings, from his former position as COO of Sun CA Holdings.  Additionally, Mary Patton officially joined the Sunniva team in December 2018 as Vice President of Marketing, after several years of consulting with the company.

Mr. Wilkerson joined Sunniva management team as Chief Operating Officer, Sun CA Holdings following the Company’s acquisition of LTYR Logistics in December 2018, where he served as Chief Executive Officer. Mr. Wilkerson has been active in the cannabis space since 2014, providing operations, distribution, logistics and technology expertise to the industry. In his new role, he will be responsible for Sunniva’s California operations.

Ms. Patton has been working with Sunniva on a consulting basis since 2015, assisting with strategic planning, regulatory compliance, licensing, product development and marketing.  Ms. Patton is a seasoned business executive and veteran cannabis activist with roles in award-winning marketing campaigns for tech leaders and high-profile entertainment industry positions, before settling full-time into the cannabis industry with a focus on policy reform, business development and marketing.  In her new role, she will be responsible for overseeing the Sunniva brand launch in California later this year.

“Expansion into the U.S. market has always been the ultimate goal for Sunniva, and the timing couldn’t be better to make our entry, given the new rules and regulations that have come into place,” said Kevin Wilkerson, newly named President of Sun CA Holdings. “The U.S. market is poised for significant growth, specifically in California, where we are focused.  As we fully develop our operations in Cathedral City and roll out our product lines in the coming months, we believe we can play a key role in the California cannabis market as it continues to expand. I am looking forward to helping the Company achieve full vertical integration of its operations in California and reach the next level of its growth in 2019.”

The former president of Sun CA Holdings, Vinayak Shastry, has resigned in order to pursue other opportunities.

“As Sunniva ramps up its launch plans for its branded products in the U.S., it’s more important than ever to have some of the brightest minds in the industry leading the way,” stated Dr. Anthony Holler, Chief Executive Officer of Sunniva. “Kevin and Mary are integral to the growth of the Company and will offer expert guiding hands as Sunniva advances its growth plan. We are of course sorry that Vinayak Shastry will be leaving Sunniva, and we thank him for his role in the development of our California operations and wish him all the best as he pursues other opportunities.”

These Company developments come as Sunniva has commenced cannabis product sales in January, continuing to build its internal house of brands and has already secured USD $7.6 million in future sales of Sunniva branded cannabis products from licensed retailers to be completed in the first four months of 2019.

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.

About Sunniva Inc.

Sunniva, through its subsidiaries, is a vertically integrated cannabis company operating in the world’s two largest cannabis markets – California and Canada.  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 in California, we are launching Sunniva branded products in various product categories including flower, pre-rolls, vape cartridges, and premium concentrates and continue to develop relationships in our retail dispensary network that. Sunniva will ensure the placement of Sunniva branded products at licenced dispensaries throughout the state.  Sunniva continues to aggressively pursue other upstream vertical opportunities. Sunniva's management and board of directors have a proven track record for creating significant shareholder value both in the healthcare and biotech industries.

This news release includes statements containing certain "forward-looking information" within the meaning of applicable securities law ("forward-looking statements"), including, but not limited to, statements relating to the sale of products from Sunniva’s extraction facility, the launch of Sunniva’s house of brands and the potential expansion and anticipated production from the extraction facility. Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

Company Contacts:

Sunniva Inc.
Dr. Anthony Holler
Chairman and Chief Executive Officer
Phone: (866) 786-6482

Investor Contact: 
Phil Carlson / Erika Kay 
KCSA Strategic Communications
Phone: (212) 896-1233  
Email: pcarlson@kcsa.com / ekay@kcsa.com

Media Contact: 
Katelyn Tumino
KCSA Strategic Communications
Phone: (212) 896-1252
Email: ktumino@kcsa.com  

  • Why YUM! Brands, and Taco Bell in Particular, Can Beat Out its Competitors
    Business
    Motley Fool

    Why YUM! Brands, and Taco Bell in Particular, Can Beat Out its Competitors

    Confidence is often an indicator of success, and one fast-casual brand is emanating poise in a highly competitive market -- YUM! Brands' Taco Bell (NYSE: YUM). Meanwhile, Burger King, Subway, and Tim Hortons are hoping for a lucrative future with a meatless cash cow. Instead, Taco Bell is touting an in-house registered dietitian who focuses on making sure that its ingredients are free of additives, preservatives, artificial flavors and colors, high-fructose corn syrup, partially hydrogenated oil, and excess sodium.

  • Dow Jones Futures: Trump's China Trade News Aids Stock Market Rally; Analyzing Apple, These Top Stocks
    Business
    Investor's Business Daily

    Dow Jones Futures: Trump's China Trade News Aids Stock Market Rally; Analyzing Apple, These Top Stocks

    Dow Jones futures rose Sunday night, along with S&P 500 futures and Nasdaq futures, amid China trade war comments from President Donald Trump. A newly confirmed stock market rally came under pressure right away. The major averages suffered weekly losses in a wild week with conflicting China trade war news and a rare Treasury yield curve inversion.

  • Hong Kong Immigration to Taiwan Surges as Protests Grind On
    World
    Bloomberg

    Hong Kong Immigration to Taiwan Surges as Protests Grind On

    The number of people moving to Taiwan from Hong Kong has risen rapidly -- up 28% over first seven months of 2019 compared to a year earlier -- fueled in recent months by anti-government protests that have swept the former British colony amid fear its autonomy from Beijing is being eroded. Upwardly mobile entrepreneurs, salespeople and managers say they are attracted by a better quality of life in the democratically run Taiwan -- including cheaper property prices, business opportunities and a safer living environment. Hong Kong's violence has increased in recent weeks as police and protesters clash and demonstrations spread across the city, including sit-ins that paralyzed its international airport for two straight days last week.

  • A gun law case before the US Supreme Court has Americans up in arms
    Finance
    Quartz

    A gun law case before the US Supreme Court has Americans up in arms

    The US Supreme Court will soon consider the right to bear arms, something it hasn't done for nearly a decade. The case in question has pitted New York City against the New York State Pistol and Rifle Association over a law on transporting guns. The twist here is that New York City, and its many legal allies, say the case is actually moot.

  • Mark Cuban explains how to make a 16% guaranteed return
    Business
    MarketWatch

    Mark Cuban explains how to make a 16% guaranteed return

    As Mark Cuban, the “Shark Tank” star, billionaire entrepreneur, and NBA franchise owner explains, just pay off your debts. The personal finance site NerdWallet put our revolving credit card balance at $420.22 billion in late 2018. The revolving number is just the credit card debt we carry from month to month.

  • These 16 money wasters are why so many Americans can’t save for retirement
    News
    MarketWatch

    These 16 money wasters are why so many Americans can’t save for retirement

    From the lofty perch of old age, and after a lifetime of thrift, I declare that I am qualified to comment on how not to waste money. We've all heard the reports: Most Americans live paycheck to paycheck, a large number can't come up with $400 for an emergency, and there's no money to save for retirement and other goals. Most of that data comes from surveys where people are, in effect, saying they don't have enough income.

  • 4 Industry Leaders With Ultra-High Dividends
    Business
    Motley Fool

    4 Industry Leaders With Ultra-High Dividends

    With long-term bond yields at historically low levels, conservative investors may be looking to high-dividend stocks in order to get the returns they seek. For those looking for high dividends in a low-interest world, here are four market leaders that not only are household names but also sport dividend yields north of 4% and look to be safe bets to make good on those payments long term. AT&T (NYSE: T) is currently the second-largest U.S. mobile telecom service provider next to rival Verizon. Both AT&T and Verizon have large recurring subscriber bases and are currently investing heavily in the next-generation wireless communications: 5G.

  • I built a nest egg of $1 million and I’m only 46 — so why do I still spend my waking hours worrying?
    Business
    MarketWatch

    I built a nest egg of $1 million and I’m only 46 — so why do I still spend my waking hours worrying?

    We have over $1 million in investments for ourselves, an additional $50,000 in investments for our two girls to be used for college. We have made investing mistakes, but we have learned from them. All told, we currently have over $1 million in investments for ourselves, an additional $50,000 in investments (529s and a Scottrade custodial account) for our two girls to be used for college, with our only debt being the final few years of our mortgage.

  • Investors Who Bought International Business Machines (NYSE:IBM) Shares Five Years Ago Are Now Down 30%
    Business
    Simply Wall St.

    Investors Who Bought International Business Machines (NYSE:IBM) Shares Five Years Ago Are Now Down 30%

    Unfortunately the share price momentum is still quite negative, with prices down 11% in thirty days. One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement. During the five years over which the share price declined, International Business Machines's earnings per share (EPS) dropped by 9.8% each year.

  • Trump Administration Asks Supreme Court to Permit Employment Discrimination Against Transgender Workers
    Politics
    Meredith Videos

    Trump Administration Asks Supreme Court to Permit Employment Discrimination Against Transgender Workers

    The Trump administration's Department of Justice is asking the Supreme Court to set a legal precedent that would enable employers to fire employees because they are transgender.

  • Singapore to Raise Retirement Age With Power Transition Approaching
    World
    Bloomberg

    Singapore to Raise Retirement Age With Power Transition Approaching

    Singapore extended support for older workers in the aging island nation as the current leadership prepares to hand over to a new generation in the next few years. The retirement age will be gradually raised to 65 from 62, Prime Minister Lee Hsien Loong said Sunday in his annual National Day Rally speech. The city-state will also increase pension-contribution rates for workers so that by 2030, any worker age 60 or below will get the full rate, Lee said.

  • 10 Marijuana Stocks Wall Street Thinks Will Double
    Business
    Motley Fool

    10 Marijuana Stocks Wall Street Thinks Will Double

    Here you'll see just how much these 10 marijuana stocks would need to increase to hit Wall Street's consensus price target. MedMen Enterprises: 196% upside You might be surprised to learn that among the dozens of well-known pot stocks to choose from, upscale dispensary operator MedMen Enterprises (OTC: MMNFF) is furthest from Wall Street's price target, which implies an almost tripling in value. MedMen certainly has a knack for normalizing the cannabis buying experience, is set to entrench itself in big markets like California and Florida, and will double its state-based reach when its acquisition of PharmaCann closes.

  • Google employees pressure the company to no longer work with ICE and Border Patrol
    Business
    FOX News Videos

    Google employees pressure the company to no longer work with ICE and Border Patrol

    Former Google engineer Kevin Cernekee weighs in on the treatment of conservative employees at big tech companies.

  • No, China Isn't Easing. It Just Has a New Benchmark
    Business
    Bloomberg

    No, China Isn't Easing. It Just Has a New Benchmark

    The People's Bank of China has already decided: It isn't joining the global race to the bottom. Over the weekend, the PBOC took a long-awaited step in interest-rate reform, which aims to give markets more sway in determining borrowing costs. The central bank will make the loan prime rate, which banks offer to their best clients, the new benchmark for pricing loans. That rate also will be linked to lenders' cost of borrowing from the central bank, or the so-called medium-term lending facility. Previously it followed the one-year lending rate, which has been considered too blunt a tool to manage an economy so saddled with debt.

  • This Oil Stock Continues to Prove It's a Cash Flow-Gushing Machine
    Business
    Motley Fool

    This Oil Stock Continues to Prove It's a Cash Flow-Gushing Machine

    The cash continues to flow Wallette pointed out on the call that "we generated $3.4 billion of cash from operations" during the second quarter. That was easily enough to cover the company's capital expenses, which totaled $1.7 billion in the quarter. As a result, the company produced $1.7 billion of free cash flow during the quarter, pushing its year-to-date total to $3 billion.

  • How to prevent a fascist takeover: Lessons from the Nazi party’s rise to power
    World
    Quartz

    How to prevent a fascist takeover: Lessons from the Nazi party’s rise to power

    International business scholars are increasingly concerned with the possibility that economic nationalism will lead to deglobalization, reversing decades of economic growth. This has spurred new debates on the potential consequences of economic nationalism and also examinations of the political processes that cause shifts from liberal democracies to more authoritarian governments. Hitler's ascent involves conservative politicians sharing power with an extremist party and being outmanoeuvred.

  • These Nations Faced Bankruptcy. Now Their Bonds Yield Nothing
    Business
    Bloomberg

    These Nations Faced Bankruptcy. Now Their Bonds Yield Nothing

    Less than a decade ago, investors could barely be compensated enough to hold the bonds of Spain and Portugal for fear the nations could be severed from the European Union. An unprecedented surge in sovereign debt across the world has driven 10-year yields in the Iberian nations to record lows just shy of 0%. “I am afraid all curves are going to zero and all rates are going to zero,” said James Athey, senior investment manager at Aberdeen Standard Investments, who currently has no positions in the debt of Spain or Portugal.

  • Copy insiders and buy these stocks — because they see no recession looming
    Business
    MarketWatch

    Copy insiders and buy these stocks — because they see no recession looming

    I recently told subscribers of my stock letter Brush Up on Stocks to get more bullish on stocks because of robust insider buying in cyclical sectors like tech, banks, industrials, chemicals, airlines, autos, hotels, energy, mining, and brokerage and investment companies. Insiders would definitely not be doing this if — like Gundlach — they saw a recession on the way. Instead, they'd be on a buyer's strike, or at best they'd favor utilities or consumer non-discretionary companies.

  • Home Depot Earnings Preview: What to Watch
    Business
    Motley Fool

    Home Depot Earnings Preview: What to Watch

    Investors in Home Depot (NYSE: HD) have good reasons to pay attention to its upcoming earnings report. The home improvement leader's last two announcements added uncertainty to its outlook, with growth slowing to below the pace that management has predicted for the full 2019 year. On Tuesday, Aug. 20, shareholders will find out whether that outlook was too optimistic or right on point.

  • 9 ways California’s new retirement plan changes the retirement savings landscape
    Business
    MarketWatch

    9 ways California’s new retirement plan changes the retirement savings landscape

    On July 1, private sector employers in California gained access to an innovative new program that enables them to facilitate retirement savings for their employees. In a state where half of all private sector workers do not have a retirement savings account or participate in a pension, CalSavers stands to make a significant difference in the lives of everyday workers. Workers are automatically enrolled in individual retirement accounts (IRAs) with a default savings rate of 5% of their paychecks.

  • Have These Tumbling Cannabis Stocks Hit Bottom Yet?
    Business
    Motley Fool

    Have These Tumbling Cannabis Stocks Hit Bottom Yet?

    Shares of cannabis stocks large and small were beaten down after soft second-quarter results disappointed investors expecting soaring sales of recreational cannabis in Canada that haven't materialized. As a result, some of the world's largest cannabis companies have stock prices miles below their peaks. Has the market already pulled these cannabis kings down as far as it can, or could they sink even lower?

  • I Lost $34,000 This Week: Here's What I'm Doing About It
    Business
    Motley Fool

    I Lost $34,000 This Week: Here's What I'm Doing About It

    That's because I have a fundamental understanding that stocks will almost certainly prove to be the best way to grow my wealth over the next two-plus decades, and the only way to attain those returns is to ride out volatility without letting fear take the reins and cause me to sell at the worst time: when my portfolio has lost value. To the contrary, I've taken advantage of these sell-offs and been a buyer over the past month. Moreover, I have measurable evidence that this strategy works.

  • 3 Dividend Stocks That Should Pay You the Rest of Your Life
    Business
    Motley Fool

    3 Dividend Stocks That Should Pay You the Rest of Your Life

    There's a balance in the dividend space between high yields and dividend sustainability. In the end, it's generally more important to find stocks that can keep paying -- and hopefully increasing -- their dividends than to stretch for high yields that are ephemeral because they are backed by dividends that are likely to get cut. If you want to add a few good dividend names to your portfolio, these three Motley Fool contributors think you'll want to look at biotech Gilead Sciences (NASDAQ: GILD), telecom giant Verizon (NYSE: VZ), and consumer products specialist Procter & Gamble (NYSE: PG).

  • 3 Dividend Stocks Ideal for Retirees
    Business
    Motley Fool

    3 Dividend Stocks Ideal for Retirees

    In an ideal world, retirement would be a period of relaxation and relatively stress-free living. Some individuals find retirement to be more expensive, stressful, or boring than they envisioned during their working years. One way to make retirement a little more enjoyable is to make your nest egg go further than you thought possible -- and one way to do that is by owning stable, blue-chip dividend stocks.

  • San Francisco doesn't care about the stock market
    Business
    Yahoo Finance

    San Francisco doesn't care about the stock market

    It's not to say that people in San Francisco don't care about stocks or the economy. A banker who works closely with many tech companies told me, “They don't know about the stock market. With options making up a considerable chunk of a tech employee's compensation, it's no surprise employees so closely track a company stock price, but it can be a distraction.