Sunniva Inc. and The Clinic Network Canada, Inc. are pleased to announce that they have entered into a share purchase agreement dated September10, 2019, pursuant to which Sunniva has agreed to sell Natural Health Services, Ltd. to TCNC, one of Canada's largest provider of 'out-of-hospital' chronic pain management services, for CAD $9.0 million subject to customary working capital adjustments at Closing. The Purchase Price will be paid by way of CAD $4.5 million in cash and CAD $4.5 million of security consideration through the issuance of 4,500,000 preferred shares of TCNC. Closing is anticipated to occur in the fourth quarter of 2019.
NHS operates 7 medical cannabis clinics in Alberta, Saskatchewan, Manitoba and Ontario with dedicated physicians with an additional 10 clinics participating in its Affiliate clinic programs across Canada.
TCNC offers a comprehensive range of interdisciplinary medical services, as well as medical devices and products - including medical cannabis - for patients suffering from chronic pain. TCNC currently provides its services and products through a network of 12 community-based clinics in Alberta, Manitoba, Ontario, and Quebec.
"The sale of NHS to TCNC will complete the previously announced disposition of our Canadian operating assets and is in line with our previously announced strategy of focusing on the advancement of our California assets and expanding our sales and distribution infrastructure with in the state," said Dr. Anthony Holler, CEO of Sunniva Inc. "We believe that the adoption of medical cannabis into the mainstream treatments for chronic pain and the combined TCNC platform represents a very good fit for the NHS assets. The cash proceeds from this sale will be directed towards the completion of the Cathedral City facility and the ongoing development of our cannabis brands in California."
"We are excited to have reached an agreement to purchase Natural Health Services from Sunniva," Mike Steele, CEO of Cura-Can Health Corp. stated. "We have been actively expanding our chronic pain clinic network and the NHS clinics not only expands our presence across Canada, it strengthens our service and product offerings for Canadian patients living with chronic pain. We believe that this acquisition will allow us to integrate TCNC's industry leading, specialist driven pain and harm reduction services and products to all Canadians suffering from Chronic pain, while continuing to strive to maximize shareholder value."
For more information on Sunniva or Natural Health Services please visit www.sunniva.com.
For more information on The Clinic Network Canada please visit www.theclinicnetwork.ca.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
About Natural Health Services, Ltd.
NHS owns and operates a network of seven clinics in Canada specializing in medical cannabis under the Cannabis Act (Canada). NHS connects patients with safe and effective medical cannabis products through Licensed Producers ("LPs"). NHS has in-house physicians and nurse practitioners specializing in the endocannabinoid system providing expert consultation, education, and recommendations for patients. NHS' proprietary technology infrastructure assists physicians, patients and LPs to comply with the rules of Health Canada.
About Sunniva, Inc.
Sunniva, through its subsidiaries, is a vertically integrated cannabis company operating in the world's two largest cannabis markets – California and Canada. In Canada, Sunniva's wholly owned subsidiary NHS operates medical cannabis clinics that provide educational and clinical services to patients. In California, Sunniva is focused on creating sustainable premium cannabis brands supported by our large-scale, purpose-built cGMP designed greenhouse and extraction facilities. We offer a steadfast commitment to safety and quality assurance providing cannabis products free from pesticides, which positions Sunniva in California as a leading provider of safe, high quality, reproducible products at scale. Through production from Phase One of our strategically positioned 325,000 square foot high technology greenhouse which is nearing completion and our fully operational Extraction Facility in California, we are launching Sunniva branded products in various product categories and price points including flower, pre-rolls, vape cartridges and premium concentrates. Sunniva branded products will be showcased within our flagship dispensary to be located at the greenhouse and our in-house marketing and distribution team will strive to ensure the placement of Sunniva branded products at licensed dispensaries throughout the state. Sunniva's management and board of directors have a proven track record for creating significant shareholder value both in the healthcare and biotech industries.
About The Clinic Network Canada, Inc.
The Clinic Network Canada (TCNC), founded in 2017, is a subsidiary of Cura-Can Health Corp. and operates 12 medical clinics in four provinces across Canada. TCNC offers multidisciplinary integrated therapies for patients suffering from chronic pain caused by diseases such as rheumatoid arthritis, Crohn's, IBS, Fibromyalgia, among others. TCNC's mission is to bring improvements to patient's daily functionality, productivity, and quality of life. The company provides patients with access to the latest medical advancements as well as pharmaceutical and cannabis-related therapies. TCNC combines complimentary facets of health care to provide an exemplary level of treatment for our patients. Founded by an experienced and progressive group of physicians, our clinics have been built on a patient-centric, evidence-based approach that ensures every patient is provided with a therapy individually tailored to their specific needs.
Sunniva Inc .和 Clinic Network Canada , Inc .高兴地宣布，双方已签订日期为2019年9月10日的股份购买协议，根据该协议， Sunniva 已同意将 Natural Health Services , Ltd .出售给加拿大最大的“院外”慢性疼痛管理服务提供商之一 TCNC 。对于990万加元，在结算时按惯例进行周转资本调整。购买价将以现金450万加元和通过发行4,500,000股 TCNC 优先股获得的450万加元证券对价的方式支付。预计将在2019年第四季度完成交割。
TCNC 为慢性疼痛患者提供全方位的跨学科医疗服务，以及医疗器械和产品，包括医用大麻。TCNC 目前通过在艾伯塔、马尼托巴、安大略和魁北克的12个社区诊所网络提供服务和产品。
“ NHS 出售给 TCNC 将完成之前宣布的对加拿大运营资产的处置，并符合我们先前宣布的专注于推进我们在加利福尼亚州的资产和扩大我们在该州的销售和分销基础设施的战略，” AnthonyHoller 博士说。Sunniva 公司的首席执行官，"我们认为，将医用大麻纳入慢性疼痛的主流治疗方案和合并的 TCNC 平台非常适合 NHS 资产。此次出售所得的现金将用于完成大教堂城市设施和我们在加利福尼亚州的大麻品牌的持续发展。”
Cura-Can Health Corp .首席执行官 Mike Steele 表示：“我们很高兴达成协议，从 Sunniva 购买自然健康服务。”“我们一直在积极扩展我们的慢性疼痛诊所网络， NHS 诊所不仅扩大了我们在加拿大的存在，而且加强了我们为加拿大慢性疼痛患者提供的服务和产品。我们相信，本次收购将使我们能够整合 TCNC 的行业领先、专家驱动的疼痛和伤害减轻服务及产品，为所有遭受慢性疼痛的加拿大人，同时继续努力使股东价值最大化。
有关 Sunniva 或 Natural Health Services 的更多信息，请访问 www.sunniva.com 。
有关加拿大诊所网络的更多信息，请访问 www.iclinicnetwork.ca 。
NHS 在加拿大拥有并运营着一个由7家诊所组成的网络，根据坎纳比斯法案（加拿大）专门从事医用大麻。NHS 通过特许生产商（ LPs ）为患者提供安全有效的医用大麻产品。NHS 有专门从事内分泌系统的内科医生和护士，为病人提供专家咨询、教育和建议。NHS 的专有技术基础设施帮助医生、病人和 LPs 遵守加拿大卫生部的规定。
关于 Sunniva 公司。
Sunniva 通过其子公司，是一家垂直整合的大麻公司，在全球两大大麻市场——加利福尼亚和加拿大——开展业务。在加拿大， Sunniva 的全资子公司 NHS 运营医疗大麻诊所，为患者提供教育和临床服务。在加州， Sunniva 专注于创建可持续的优质大麻品牌，并得到我们大规模、专门构建的 cGMP 设计的温室和提取设施的支持。我们坚定地致力于提供无农药的大麻产品的安全和质量保证，使加州的 Sunniva 公司成为安全、高质量、可复制产品的领先供应商。透过我们位于策略位置325,000平方尺高科技温室第一期的生产及我们在加州的全面营运提取设施，我们将推出多种产品类别及价格点的 Sunniva 品牌产品，包括花卉、预卷、药盒和优质浓缩物。Sunniva 品牌产品将在我们位于温室的旗舰药房内展示，我们的内部营销和分销团队将努力确保将 Sunniva 品牌产品投放到全国各地的特许药房。Sunniva 的管理层和董事会在医疗保健和生物技术行业创造重要股东价值方面有着良好的业绩记录。
加拿大诊所网络（ TCNC ）成立于2017年，是 Cura-Can Health Corp .的子公司，在加拿大四个省运营12家诊所。TCNC 为患有风湿性关节炎、克罗恩病、 IBS 、纤维肌痛等疾病引起的慢性疼痛的患者提供多学科综合治疗。TCNC 的任务是改善病人的日常功能、生产力和生活质量。该公司为患者提供最新的医疗进步以及药物和大麻相关的治疗。TCNC 结合了医疗保健的免费方面，为我们的病人提供了一个模范的治疗水平。我们的诊所由一群经验丰富、进步的医生组成，以病人为中心、以证据为基础的方法为基础，确保每一位病人都能得到适合其特定需求的治疗。