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Sunniva closes sale of Natural Health Services unit

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Sunniva closes sale of Natural Health Services unit

Sunniva Inc. closed its sale of Natural Health Services Ltd. to Cura-Can Health Corp. for C$9 million, effective Dec. 18.

The purchase price included C$250,000 in cash and about C$8.8 million in security consideration through the issuance of 7 million class A common shares of Cura-Can.

Closing terms of the acquisition replaced Sunniva's previous intent to sell Natural Health Services to Cura-Can's The Clinic Network Canada Inc. for C$4.5 million in cash and C$4.5 million through the issuance of 4.5 million preferred shares of the Clinic Network Canada.

Natural Health Services will add to the company's pain treatment services, said TCNC's Chief Strategy Officer Kim Wei, alongside emphasizing TCNC's goal in the past year of expanding its chronic pain clinic network across Canada.