VANCOUVER, British Columbia,– Sunniva Inc. (“Sunniva” or the “Company”) (CSE:SNN) (OTCQB:SNNVF), announces that its wholly owned subsidiary, CP Logistics LLC (“CPL”), has filed an application for a Temporary Restraining Order (“TRO”) in California Superior Court for the County of Riverside (the “Court”) and has submitted a Notice of Claims with JAMS, the world’s largest private alternative dispute resolution provider, to initiate the arbitration process (“Arbitration”) with respect to the previously disclosed Notice of Termination Letter issued by the Sunniva Production Campus, LLC (“SPCL”) with respect the Lease related to the property located at 69375 Ramon Road, Cathedral City, California. Through the filing of the TRO, CPL will ask the Court to restrain SPCL from enforcing its alleged termination of the Lease until the Arbitration process is completed. The hearing for the application for a TRO will be held in Court on December 24, 2019.
CPL, a wholly owned subsidiary of Sunniva, entered a build to suit lease agreement (the “Lease”) on October 20, 2017, with SPCL for the construction of the Sunniva California Campus in Cathedral City, California. SPCL is an entity related to Barker Pacific Group, Inc.
For more information about the Company please visit: www.sunniva.com.
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Information or Statements
This press release contains forward-looking information or statements. All statements that are or information which is not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, statements regarding Sunniva’s operations and growth opportunities and CP Logistics LLC’s filing of a Petition for Provisional Relief Pending Arbitration and application for the TRO in the California Superior Court and the uncertainty regarding the future outcome of the Arbitration process, are “forward-looking information or statements”. Forward-looking information or statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. With respect to forward-looking information and statements contained herein, Sunniva has made numerous assumptions including, among other things, assumptions about general business and economic conditions. Such forward-looking statements are based on assumptions and involve known and unknown risks, uncertainties and other factors that may cause actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking information or statements. Such risks and uncertainties include, among others, the risk factors included in the Sunniva’s continuous disclosure documents available on www.sedar.com. These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking information or statements. Although Sunniva has attempted to identify important risk factors that could cause actual actions, events or results to differ materially from those described in forward-looking information or statements, there may be other risk factors that cause actions, events or results to differ from those anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in forward-looking information or statements. Sunniva assumes no obligation to update any forward-looking information or statements, even if new information becomes available as a result of future events, new information or for any other reason except as required by law.