Sale of Sunniva Medical to CannapharmaRx is Terminated15.6.2020
CannaPharmaRx, Inc. (OTC Pink Sheets:CPMD), a future leader in ultramodern, highly efficient cannabis production facilities in Canada, announced today that the Company had been notified that Sunniva, Inc. has terminated the sale of its wholly-owned subsidiary, Sunniva Medical Inc., to CannaPharmaRx Inc.
“We are working through this termination letter and carefully weighing our options,” said Nick Colvin, CEO of CannaPharmaRx. “There are various other agreements that we are cautiously optimistic about consummating. We will update our shareholders as soon as we close an acquisition,” added Colvin.
About CannaPharmaRx, Inc.
CannaPharmaRx is focused on the acquisition and development of state-of-the-art cannabis growth facilities located in Canada. CPMD owns 48,500-square-foot cannabis growth facilities presently under development and is currently discussing potential acquisitions with other companies. CannaPharmaRx’s business strategy is to become a leader in the high-quality and low-cost production of cannabis through the development, acquisition, and enhancement of existing facilities. CannaPharmaRx is committed to operating high-quality facilities utilizing the latest technology in combined heat and power generation to ensure we are a low-cost producer of cannabis. CannaPharmaRx is in the process of completing an application to list its common stock on the Canadian Stock Exchange, with initial trading anticipated to be during the third quarter of 2020.
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