CALGARY, Alberta, Nov. 22, 2017 (GLOBE NEWSWIRE) -- Sunniva Inc. ("Sunniva" or the “Company"), a North American provider of medical cannabis products and services, is pleased to announce that its wholly-owned subsidiary Natural Health Services Ltd. (“NHS”) surpassed 100,000 active medical documents and 76,000 active patients, growing at over 5,000 patients a month.
“Consumers are increasingly turning to cannabis for relief from a broad range of medical conditions,” said Dan Vass, President, NHS. “Our clinics allow patients to come in and talk freely and openly with knowledgeable medical professionals who are equipped to prescribe the appropriate strain and dose to ensure positive outcomes.”
As at June 30, 2017, Health Canada reported the average amount of dried cannabis for medical purposes authorized per client was 2.3 grams/day, and recent market data suggests an average price per gram of $7.50, according to the Canadian Parliamentary Budget Officer.
Medical cannabis is increasingly recognized and used to safely treat symptoms related to a wide range of ailments. These include back pain, arthritis, insomnia, nausea from cancer chemotherapy, seizures, Crohn's disease and headaches. As at June 30, 2017, Health Canada reported more than 200,000 people were registered to purchase cannabis through licensed producers (“LPs”), a 20 per cent increase over the previous quarter.
NHS owns and operates a network of 8 medical clinics in Canada specializing in medical cannabis under Access to Cannabis for Medical Purposes Regulations (“ACMPR”). NHS connects patients with safe and effective medical cannabis products through licensed producers. NHS’ in-house physicians and nurse practitioners specializing in the endocannabinoid system provide expert consultation, education, and recommendations for targeted phytoceutical remedies and wellness plans to improve the quality of life for all patients. NHS’ proprietary technology infrastructure assists medical professionals, patients and LPs to comply with the rules of Health Canada.
NHS considers an active patient to be a patient with a current medical document under the ACMPR that has complied with the follow up requirements of the applicable provincial regulatory regime, and one that has purchased products from a LP in the past 90 days. The number of medical documents outstanding is the total number of medical documents issued to LPs that are in good standing. Patients may have more than one medical document outstanding if they are purchasing cannabis from multiple LPs.
Sunniva’s other Canadian subsidiary, Sunniva Medical Inc., (“SMI”) is a late stage applicant under Canada’s ACMPR and is in the review stage. SMI is designing the Canadian Sunniva Campus, purpose-built current Good Manufacturing Practices greenhouse facilities to be located in Oliver, British Columbia, and constructed in two phases. Phase one is designed as a 400,000-sq. ft. facility and is expected to produce 70,000 kg of premium medical cannabis per year. Sunniva anticipates breaking ground in Q1 2018.
About Sunniva Inc.
Headquartered in Western Canada, Sunniva is a vertically integrated medical cannabis company committed to improving the quality of human life through its planned delivery of low cost, high-quality medical cannabis and better access to physician-led therapies and delivery methods. Sunniva brings legitimacy to the nascent medical cannabis market through state-of-the-art technology, strict regulatory compliance, safety and education. Sunniva operates in Canada and California and plans to cultivate, produce and distribute a broad range of solutions focused on patients’ needs. Sunniva operates through its wholly owned subsidiaries - CP Logistics, LLC, SMI, NHS and Full-Scale Distributors, LLC.
For more information please visit: www.sunniva.com
This press release contains forward-looking statements within the meaning of applicable securities laws. All statements that are 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 plan to cultivate, produce and distribute a broad range of solutions focused on patients’ needs and Sunniva’s plan for its facilities, are "forward-looking statements." Forward-looking 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. Such forward-looking statements 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 statements. Such risks and uncertainties include, among others, the risk factors included in Sunniva’s final prospectus dated November 16, 2017 (the “Prospectus”), including without limitation, dependence on obtaining and maintaining regulatory approvals, including acquiring and renewing state, local or other licenses and any inability to obtain all necessary governmental approvals licenses and permits to complete construction of its proposed facilities in a timely manner; regulatory or political change such as changes in applicable laws and regulations; Sunniva’s limited operating history and lack of historical profits; reliance on management; and the effect of capital market conditions and other factors on capital availability; competition, including from more established or better financed competitors; and the need to secure and maintain corporate alliances and partnerships, including with customers and suppliers. Readers are encouraged to review the section titled “Risk Factors” in the Prospectus and other disclosure documents on www.sedar.com. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking 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 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 statements. Sunniva assumes no obligation to update any forward-looking statement, even if new information becomes available as a result of future events, new information or for any other reason except as required by law.
Dr. Anthony Holler
Co-founder, Chairman and Chief Executive Officer
Released November 22, 2017