VANCOUVER, BC, Aug. 24, 2021 /CNW/ - Sunniva Inc. ("Sunniva", the "Company") (CSE: SNN) (OTC Pink Sheets: SNNVF) announced today that it has appointed Norman Valz to its Board of Directors to fill a vacancy created by the resignation of Luke Stanton and Todd R. Patrick in 2020. Mr. Valz will hold office until the next annual general meeting of shareholders of the Company.

Mr Valz practices law in Philidelphia and New York  in the areas of commercial litigation, securities, corporate governance and international business transactions. He has counselled  and served as an officer in technology startups for over 30 years. His primary current role is acting as General Counsel for Matrix Venture  Capital Management Inc. 

"We are very pleased to appoint Mr. Valz to Sunniva's board" said Dr. Anthony Holler,  the Company's Chairman, "His background and experience will undoubtedly provide valuable insights as we go through arbitration and restructuring the Company".

 Mr. Valz is a graduate of Kenyon College and received his J.D. from the University of South Carolina. 

In accordance with the policies of the Canadian Securities Exchange (the "CSE"), the  CSE  will  be  reviewing  the  continued  listing  of  the  common  shares  of  the  Company. The common shares of the Company have been subject to a cease trade order since June 22, 2020 for failure to file certain financial documents (the "Cease Trade Order"). Trading of the shares will continue to be suspended until the CCAA process has been completed and the Cease Trade Order has been fully revoked.

The CSE 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, 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, and that the trading of the Company's common shares will continue to be suspended until the Cease Trade Order the has been revoked. 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.

SOURCE Sunniva Inc.