trending Market Intelligence /marketintelligence/en/news-insights/trending/605CfeS0wpS0KuHqd1VopQ2 content esgSubNav
In This List

Sunniva closes acquisition of cannabis distribution company LTYR Logistics

Blog

Gauging Supply Chain Risk In Volatile Times

Blog

Insight Weekly: Banks' efficiency push; vacuuming carbon; Big Pharma diversity goals

Blog

The Future of Risk Management Digitization in Credit Risk Management

Blog

Climate Credit Analytics: Diving into the model


Sunniva closes acquisition of cannabis distribution company LTYR Logistics

Sunniva Inc. acquired all equity interests of California cannabis distribution company LTYR Logistics LLC for a mix of cash, common shares and warrants.

The Canadian cannabis company Sunniva also acquired a proposed distribution facility in Long Beach, Calif., which is being upgraded for compliance for cannabis distribution activities.

Consideration for the acquisition includes C$156,359 in cash, 1,436,949 Sunniva common shares at C$3.71 apiece and 718,473 performance warrants. The warrants are convertible into Sunniva common shares for no additional consideration subject to achieving certain operational milestones at C$3.71 per share.

Vancouver, British Columbia-based Sunniva, which operates large-scale cannabis production facilities, said one of the primary drivers of the acquisition was LTYR's distribution capabilities.

The Canadian cannabis company said LTYR will bolster Sunniva's position in California as a vertically integrated cannabis company with operations from seed to sale. LTYR is expected to roll out its Sunniva branded product line in the first quarter of 2019.