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Photo: Contributed
Another sale at the old Weyerhaeuser Mill site in Okanagan Falls has fallen through.
Sunniva Inc., whose CEO Dr. Tony Holler also owns Naramata Bench's Poplar Grove and Monster wineries, announced in June 2019 that it had sold the site to CannaPharmaRX for $20M.
One year later, that fell through and another sale was announced for a lesser price tag.
On Monday, Sunniva announced that sale will also not be happening.
The unnamed independent real estate investment group that had made the offer advised Sunniva it did not intend to proceed with purchase. The purchase had been subject to due diligence by the buyer.
According to court documents filed this spring, Sunniva still owed over $3M in mortgage fees for the site.
