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Sunniva Inc.’s Subsidiary CP Logistics LLC Announces Settlement Agreement

Written by Customer Service on . Posted in Public Companies.

VANCOUVER, British Columbia, March 14, 2023 (GLOBE NEWSWIRE) — Sunniva Inc. (“Sunniva”, the “Company”) (CSE:SNN) (OTC Pink Sheets:SNNVF) announces that the Company’s subsidiary, CP Logistics LLC (“CPL”) reached a settlement with Bobs LLC (“Bobs”) in regards to the interim ruling as issued by JAMS Arbitration on September 7, 2022. Under the ruling the Tribunal granted Bobs’ money damages in the approximate amount of US $8.6 million and attorneys fees. Under the settlement CP Logistics has transferred a cannabis license for dispensary, delivery and cultivation to Bobs in lieu of the monetary damages which were awarded to Bobs. CPL and Bobs have agreed that this transfer settles all obligations in full and agree not to pursue additional legal action including appeals against the other party and their affiliates.

Company Contacts:

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

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