VANCOUVER, British Columbia, July 13, 2020 /CNW/ -- Sunniva Inc. ("Sunniva", the "Company") (CSE:SNN) (OTCQB:SNNVF), has become aware that its subsidiary Sunniva Medical Inc. ("SMI") has been named in a lawsuit (the "Lawsuit"), commenced in connection with amounts payable to PTI Transformers Inc. (the "Plaintiff") under an Assignment and Amended Agreement (the "Agreement") dated February 27, 2018 with respect to a supply agreement whereby the Plaintiff would build and supply two electrical substations for the Company's project at Okanagan Falls, British Columbia. A notice of civil claim was filed in the Supreme Court of British Columbia in respect of the Lawsuit. The Plaintiff is seeking judgement for an alleged amount due under the Agreement of CA $2,252,321.47 plus interest on the amounts due. Sunniva has 21 days to respond to the notice of civil claim.
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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 the Lawsuit, including the judgment sought by the Plaintiff and the Company's response to the notice of civil claim, 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.
Sunniva Investor Relations:
Dr. Anthony Holler
Chairman and Chief Executive Officer
VP Corporate Development
Phone: (866) 786-6482
Phone: (587) 316-4319
SOURCE Sunniva Inc.
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