LOS ANGELES and VANCOUVER, British Columbia, July 17, 2018 /PRNewswire/ --
Cannabis Strategic Ventures, Inc. ("Cannabis Strategic") (OTC Pink: NUGS) and Sunniva Inc. ("Sunniva")(CSE: SNN) (OTCQX: SNNVF) are pleased to announce the signing of a cannabis concentrate extraction services agreement between CP Logistics, LLC ("CPL"), Sunniva's wholly-owned U.S. subsidiary and Pure Applied Sciences, Inc. ("PAS"), Cannabis Strategic's wholly-owned subsidiary. Under the terms of the agreement, CPL will perform white label services producing high quality, ultra-purified cannabis extracts out of its Sun-Oil Facility in Cathedral City, California for PAS under the "Pure Organix™" brand name, which was recently acquired by Cannabis Strategic. PAS will continue to focus on developing additional formulations, intellectual properties and brands for future licensing opportunities. The agreement is for a 12-month term that may be renewed for an additional 12 months at the request of PAS at the expiry of the initial term.
"We have selected Sunniva because of its emphasis on creating great products for great brands," commented Simon Yu, CEO of Cannabis Strategic. "We created the Pure Sciences brand based on premium quality and sound manufacturing practices. Sunniva shares our values relative to the area and we are pleased to have them as our manufacturer. We are especially impressed with their plans to build greenhouse and extraction facilities compliant with Current Good Manufacturing Practice ("cGMP") standards."
The agreement calls for CPL to initially produce cannabis oils for use in PAS' vape pen cartridges, but expansion into other product areas is expected.
Tony Holler, CEO of Sunniva, commented, "As one of the highest quality producers in the marketplace, we believe we are in an excellent position to provide brand product manufacturing services for Cannabis Strategic. Both of our firms share the vision of becoming leaders in providing clean, medical grade cannabis products to consumers. We welcome Cannabis Strategic to our growing portfolio of customers."
About Cannabis Strategic Ventures
Cannabis Strategic Ventures is based in Los Angeles and is focused on supporting entrepreneurial growth within the fast-growing legal cannabis sector. The company, recently completed a name and symbol change from Cascade Energy, Inc. Cannabis Strategic Ventures offers outsourced personnel solutions that are tailor made to match the growth dynamics of cannabis cultivators, manufacturers, dispensaries, and other cannabis marketplace participants. Cannabis Strategic Ventures is publically traded on the U.S. Over the Counter Market with the stock symbol NUGS.
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 - where we are committed to delivering safe, high-quality products and services at scale and creating trusted Sunniva branded cannabis products. Our vision is to become one of the lowest cost, highest quality vertically integrated cannabis producers in the markets we serve by building large scale purpose-built current cGMP designed greenhouses and expansion of retail locations, offering better quality assurance with cannabis products free from pesticides, providing better customer access to cannabis education and sourcing better therapeutic delivery devices. 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: http://www.sunniva.com
Neither 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.
FORWARD-LOOKING STATEMENTS: This release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995 and other applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance 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 the companies' continuous disclosure documents. These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements. Although the companies have 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. The companies assume 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.
Contact for Sunniva:
Dr. Anthony Holler
Chairman and Chief Executive Officer
SOURCE Cannabis Strategic Ventures, Inc.