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Last C$0.28 CAD
Change Today -0.01 / -3.45%
Volume 38.3K
SUN On Other Exchanges
As of 2:14 PM 04/17/15 All times are local (Market data is delayed by at least 15 minutes).

sunorca development corp (SUN) Snapshot

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52 Week High
04/13/15 - C$0.29
52 Week Low
11/13/14 - C$0.06
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sunorca development corp (SUN) Details

Wildflower Marijuana Inc. grows and distributes medical marijuana. The company was formerly known as Sunorca Development Corp. and changed its name to Wildflower Marijuana Inc. in June, 2014. Wildflower Marijuana Inc. was incorporated in 1983 and is based in Vancouver, Canada.

Founded in 1983

sunorca development corp (SUN) Top Compensated Officers

Chief Financial Officer, Director and Member ...
Total Annual Compensation: C$12.0K
Compensation as of Fiscal Year 2013.

sunorca development corp (SUN) Key Developments

Wildflower Marijuana Inc. Enters into Letter of Intent to Form Licensing Joint Venture with a Licensed Marijuana Producer in Washington State

Wildflower Marijuana Inc. announced it has entered into a letter of intent to form a Licensing Joint Venture with a licensed marijuana producer in Washington State. The Joint Venture is being formed to develop Wildflower branded products which will then be marketed and distributed by Wildflower Joint Venture partner. Pursuant to the Joint Venture, Wildflower will grant an exclusive license to manufacture market and sell certain products, recipes, retail merchandise and promotional materials under the Wildflower brand in the State of Washington. As part of the agreement, Wildflower will issue 1,303,800 shares and pay $250,000 to its Joint Venture partner and contribute $1,100,000 in working capital to develop the brand. In consideration, Wildflower will receive a licensing fee equal to 20% of the gross sales of Wildflower branded products. Wildflower's joint venture partner has been in the marijuana business since 1998 and has operated a medical dispensary since 2012. The partner has agreed to negotiate in good faith combining these operations into the Joint Venture at such time as the law permits. Washington State is currently developing new rules regulating medical dispensaries. Further, Wildflower will work closely with its Joint Venture partner to implement Wildflower's Quality Assurance Program, Standard Operating Procedures and Good Manufacturing Practices to ensure the higher quality is produced for the Wildflower brand. As part of the transaction, Wildflower has agreed to pay a commission in accordance with regulatory guidelines. Pursuant to the Joint Venture all production from the license will be sold under the Wildflower brand. In Washington State, licensing requirements stipulate that all license holders and their shareholders, directors, officer and financiers be Washington State residents. While Wildflower cannot have any interest in any license in Washington State it can license its brand and provide consulting services to ensure all products associated with the Wildflower brand are of the higher quality.

Wildflower Marijuana Inc. Moves its First MMP Application to the City of Parksville

Wildflower Marijuana Inc. announced it has moved its first MMPR application to the City of Parksville. As previously mentioned in Wildflower's press release dated January 20th, 2015, the City of Parksville has provided an ideal location for a medical marijuana production facility. Wildflower had unanimous decisions from both the council for the City of Parksville and the Board of the Regional District of Nanaimo for Wildflower to construct its medicinal marijuana facility on land they jointly own. As part owner of the land, approval of the agreement was necessary by the Regional District of Nanaimo. The application for an MMPR license on land in Parksville has already been submitted to Health Canada. With the application having already been through numerous Health Canada reviews, it is optimistic that the Parksville location will be well received by Health Canada as the re submitted application is identical in most technical aspects to the original application. The second application in Yellowpoint is proceeding with the latest response to Health Canada being sent in this week. Wildflower will continue to build a business that can offer a positive impact on the local economy and community within the Regional District of Nanaimo.

Wildflower Marijuana Inc. Appoints G. Scott Walker as VP of Corporate Development

Wildflower Marijuana Inc. announced it has appointed G. Scott Walker as Vice President of Corporate Development. Upon identifying the emerging cannabis industry as having great potential, Mr. Walker positioned himself at the forefront of the industry by becoming a founding member of the Canadian Medical Cannabis Industry Association (CMCIA). As a former board member of the association Mr. Walker has worked closely with licensed producers and applicants of the new Marihuana for Medical Purposes Regulations (MMPR). He is also a member of the International Cannabinoid Research Society actively participating in a number of projects working to help veterans, police and first responders deal with PTSD and opiate addiction. Mr. Walker comes to Wildflower with extensive experience in management, finance, business development, and government relations.


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