Sunniva Responds To Filing Of Notice Of Claim With Respect To Promissory Notes

Sunniva Inc. (“Sunniva”, the “Company”, “we”, “our” or “us”) (CSE: SNN) (OTCQB: SNNVF), has become aware that it has been named in a lawsuit (the “Lawsuit”), along with its wholly-owned subsidiary, 1167025 B.C. Ltd., commenced in connection with loans made by Matrix Venture Capital Management Inc. (the “Plaintiff”) to Sunniva on August 28, 2019 and October 11, 2019, respectively, in the aggregate amount of USD$7,000,000 (the “Loans”). The remedies sought by the Plaintiff include a mortgage over Sunniva’s Okanagan Falls property to secure payments of the amounts of the Loans owed by Sunniva to the Plaintiff.

A notice of civil claim was filed in the Supreme Court of British Columbia on November 26, 2019 in respect of the Lawsuit. The Company has not yet been served with the notice of civil claim.

Sunniva and 1167025 B.C. Ltd. intend to vigorously defend this action.

“The allegations in the notice of claim contain factual inaccuracies and the Company believes the claim is without merit,” said Dr. Anthony Holler, CEO of Sunniva Inc.

1167025 B.C. Ltd. owns the Sunniva Canada Campus, which includes construction assets for a planned 759,000 square-foot greenhouse located on an approximately 114-acre property in Okanagan Falls, British Columbia.
For more information about the Company please visit: www.sunniva.com.

To be added to the Sunniva email distribution list please register at www.sunniva.com/email-alerts.

The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.

SOURCE Sunniva Inc.