Members of cannabis cultivation firm Sunniva are thrilled to officially go public.
Sunniva Inc. has raised over $50 million to date, and for the last few months have been operating in pre-IPO status. This week they will officially be publicly traded on the Canadian Stock Exchange (CSE) under the symbol SNN. One skilled reporter and finance expert believes that Sunniva could be a valuable investment due to how they are already mirroring successful CSE Canadian cannabis stocks.
Before going public, Sunniva has worked to remove the risk from their venture which entices more investors once they’re listed on the CSE. The company has strategically acquired real estate and sealed merchant banking relationships that facilitate them as they grow 100,000 kilograms of cannabis in the state of California and 125,000 kilograms in the state of Canada.
On top of this, the company is in negotiations with high-volume retailers and distributors of cannabis products in both North American locations. These hundred million dollar contracts are being built in two of the most lucrative cannabis markets to date. Sunniva co-founder Dr. Anthony Holler has successfully implemented these strategies in prior businesses which does show confidence to potential investors. The hands-on CEO and chairman is on track to becoming a part of Canada’s most diverse and enormous vertically-integrated provider of pharmaceutical grade cannabis products in the country.
Their prowess in Canada already has Sunniva slotted to score well in the legal market, but their expansion to California gives them a serious advantage when it comes to cannabis stocks. They will be undergoing a two phase buildout in Cathedral City right outside of popular vacation spot in Palm Springs, California. Alongside the 100,000 kilograms grown in both markets, the cultivations are also planning 30,000 kilograms of plant matter meant for manufacturing and processing into other products.
Facilities are being designed under “Good Manufacturing Protocols” and will be automated using greenhouse technology. The large scale growing facility is built with the stringent California regulations in mind, and shows promise for the Canadian cannabis cultivation firm.