Juva Life Reports 144% Increase in Revenue for Q2 2022; Schedules Webinar for 9/6/22
Juva Life Reports 144% Increase in Revenue for Q2 2022; Schedules Webinar for 9/6/22
Company Reports Its Q2 2022 Financial Results and Provides Comments on Operations
VANCOUVER, British Columbia, August 31, 2022 (GLOBE NEWSWIRE) -- Juva Life Inc. (CSE: JUVA) (OTCQB: JUVAF) (FRANKFURT: 4VV) (“Juva Life,” “Juva,” or the “Company”), a life science company with both pharmaceutical research and development and consumer-facing operations in cannabis production and distribution, today highlights its financial and operating results for Q2 of 2022, and announces an upcoming webinar to review results and provide operational updates.
The Company generated $1.8 million of revenue in Q2 2022, a 144% increase over the same period in the previous year. For the six-month period ending June 30, 2022, the Company generated $2.9 million in revenue, a 123% increase from the same period in the previous year. This growth was driven by increased sales in both its retail delivery business as well as sales of wholesale bulk cannabis flower cultivated at the Company’s recently expanded facility in Stockton, CA. Additionally, net loss for the quarter decreased from $2.8 million in Q2 2021 to $1.9 million in Q2 2022, pointing to a positive trend in cost-reduction and healthy growth. The Company also completed an $11.8M financing in Q2 that allowed for the purchase of its Stockton facility, capitalizing on the $10M+ in previous leasehold improvements, and strengthening its cash balance. The additional funds will allow for expansion of both its cannabis operations and research programs.
Operationally, in the second quarter of 2022, Juva continued its preclinical research program on novel compound Juva-041. The compound, which has demonstrated potent anti-inflammatory properties in phenotypic assays of inflammation, is currently being scaled up to support pre-clinical and non-clinical pharma development studies. Beyond its clinical research programs, Juva also relaunched its WIRB-approved JuLi Registry study with the goal of cultivating one of the largest data sets on the medicinal applications of cannabis use to exist to date.
Through its cannabis operations, the Company completed multiple milestones including the launch of in-house brands `Secret Sauce” and “Flos.” It also received local provisional licensing of its cannabis retail storefront location in Redwood City. The Company received an industry-leading, almost perfect score in its application review and is about to begin construction on the facility, with the application for State licensing concurrently under review.
“I could not be more excited by the momentum Juva is experiencing in both its cannabis operations and clinical research,” said Doug Chloupek, CEO and Founder of Juva. “While many of our industry peers in California are struggling to expand their businesses, or even survive, Juva is experiencing quarter-over-quarter growth in revenue, while we continue to cut costs and increase margins. As we continue the permitting of our upcoming Redwood City retail location, we will further optimize our Stockton facility, where we continue to increase yield with minimal additional costs. On the pharmaceutical research side, we continue to move at an unprecedented pace in proving the therapeutic potential of our novel compound, Juva-041. All said, I believe we are heading in a positive direction as an organization and I look forward to updating the market during our webinar next week!”
The Company has scheduled a webinar hosted by Chief Executive Officer Doug Chloupek at 4:30pm ET on September 6th, 2022. On the webinar Doug, along with other team members from the Company, will present in greater detail on the results from the second-quarter and first half of 2022, as well as where the company is headed throughout the remainder of the year. The webinar will also include a Question and Answer session. Anyone interested in submitting questions are asked to send them to Juva@cmwmedia.com by 5pm EST on September 1st.
Those interested in attending the webinar can register here: https://zoom.us/webinar/register/WN_alOR1mE3TwKVqhnOgC7sVQ
The webinar will be available for viewing on the Company’s website 24 hours after its airing.
ON BEHALF OF THE BOARD,
-Doug Chloupek-
Doug Chloupek, CEO and Founder
Juva Life Inc.
About Juva Life Inc. (CSE: JUVA) (OTCQB: JUVAF) (FRA: 4VV)
Juva Life is employing state-of-the-art science to discover, develop and commercialize safe and effective wellness and pharmaceutical products, in both the cannabis consumer segment as well as the non-cannabinoid based medical industry. The Company is successfully executing against its 2018 roadmap, initially starting with standardization of cultivation, extraction, and formulation to offer consumers reproducible benefits. Juva is building upon these natural product process chemistry skills, to now include discovery pharmacology. The Company will leverage revenue derived from its retail operations to advance its consumer and clinical development efforts of Juva-019 and Juva-041, as well as other potentially valuable non-cannabinoid bioactives with significant consumer and pharma products applications. Juva is working to bring the Cannabis market face to face with the sector’s next generation investment grade business model. Find out more at: https://juvalife.com/.
For further information, please contact:
Juva Life Investor Relations
Tel: +1 833-333-5882 (JUVA)
Email: inquiries@juvalife.com
Media Relations:
Kyle Porter
858.221.8001
juva@cmwmedia.com
Corporate Contact:
1.833.333.JUVA (5882)
Forward Looking Statement
This news release contains statements and information that, to the extent that they are not historical fact, may constitute “forward-looking information” within the meaning of applicable securities legislation. Forward-looking information may include financial and other projections, as well as statements regarding future plans, objectives, or economic performance, or the assumption underlying any of the foregoing. In some cases, forward-looking statements can be identified by terms such as “may”, “would”, “could”, “will”, “likely”, “except”, “anticipate”, “believe”, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook”, or the negative thereof or other similar expressions concerning matters that are not historical facts. Examples of such statements include, but are not limited to, statements with respect to the objectives and business plans of the Company; product development, commercialization strategy and future collaborations.
Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information, including, without limitation, risks relating to the future business plans of the Company; risks that the Company will not be able to retain its key personnel; risks that the Company will not be able to secure financing on reasonable terms or at all, as well as all of the other risks as described in the Company’s management discussion and analysis for year ended December 31, 2020 under the heading “Risks and Uncertainties”. Accordingly, readers should not place undue reliance on any such forward-looking information. Further, any forward-looking information speaks only as of the date on which such statement is made. New factors emerge from time to time, and it is not possible for the Company’s management to predict all of such factors and to assess in advance the impact of each such factor on the Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking information. The Company does not undertake any obligation to update any forward-looking information to reflect information or events after the date on which it is made or to reflect the occurrence of unanticipated events, except as required by law, including securities laws.
The CSE does not accept responsibility for the adequacy or accuracy of this release.
Juva Life Launches Revised JuLi Registry, Showcases Cannabis and CBD Brands to Track Effects on Cannabis Patients
Juva Life Launches Revised JuLi Registry, Showcases Cannabis and CBD Brands to Track Effects on Cannabis Patients
Life Science Research and Vertically Integrated California Cultivator Creates Global Research Registry to Better Understand Clinical Effects of Cannabis
VANCOUVER, British Columbia, August 16, 2022 (GLOBE NEWSWIRE) -- Juva Life Inc. (CSE: JUVA) (OTCQB: JUVAF) (FRANKFURT: 4VV) (“Juva Life,” “Juva” or the “Company”), a life science company with both pharmaceutical research and development and consumer-facing operations in cannabis production and distribution, today announced their newly revised WCG IRB-approved cannabis patient registry, renamed to the JuLi Registry (“The Registry”).
The JuLi Registry is a WCG IRB -approved multi-year study conducted through Juva Life’s cannabis research division. The Registry, listed on clinicaltrials.gov, is aimed at amassing one of the world’s largest data sets of real-world clinical evidence on the potential health benefits of cannabis. It enjoys participation from best-in-class cannabis and cannabidiol (CBD) brands, and includes products from CannaCraft, dosist, LEVEL, San Benito Hemp Company, Sunderstorm, and WYLD.
Once completed, Juva will have one of the largest data sets of its kind and will be able to leverage the findings in both its nutraceutical wellness, drug development and clinical programs. This real-world observational data, overseen by physicians and other clinicians, will be presented to various regulatory bodies to show the potential therapeutic benefits of cannabis and hemp-derived compounds.
“The Juli Registry will amass one of the largest repositories of real-world data of its kind, tracking the medicinal effects of cannabis use, which few companies globally are seeking to create,” said Doug Chloupek, CEO and Founder of Juva. “Thanks to the participation of our world-class brands, cannabis patients nationwide can track the effectiveness of a broad selection of curated products which may help individual participants and researchers better understand clinical benefits from specific products and dosing schedules. The data we collect is kept confidential, and this study is crucial in understanding the medicinal benefits of cannabis-based products through real-world data gathering.”
“The cannabis plant has such remarkable therapeutic promise. Yet research has been stymied for decades by federal restrictions,” says Tiffany Devitt, Chief of Regulatory Affairs for CannaCraft. “We're thrilled that Juva is taking the initiative to creatively work around restrictions and essentially crowd-sourcing data from the millions of people using this long-standing herbal remedy.”
"Since inception, dosist has been a pioneer in the study of cannabinoids and their positive clinical effect for consumers," stated Jason DeLand, Executive Chairman and Co-Founder of dosist. "Precise dosage, exact formulations and maximum bioavailability are paramount to creating a consistent, repeatable experience that engenders consumer trust, and we applaud Juva's efforts to further confirm and elevate the targeted usage and wellness benefits of this amazing plant."
“Cannabinoids have a myriad of therapeutic properties, and we’re just starting to define their positive impact on human health,” said LEVEL Founder and CEO Chris Emerson, PhD. “At LEVEL, we’re dedicated to conducting research, pushing the scientific boundaries, and driving consumer education about cannabinoids, which facilitates our unique approach to developing innovative cannabis products. Leveraging real-world clinical evidence on the potential health benefits of cannabis will shape the future of the industry, and LEVEL is excited to participate in this important work.”
“We find it our duty to help showcase what this amazing plant is really capable of,” says Matthew Mielczarek, CEO and Co-Founder of San Benito Hemp Company. “The cannabis plant has so many uses, we have only begun to scratch the surface of its medicinal qualities. We are extremely excited to be working with Juva on this groundbreaking study that will not only enlighten all of our understandings of the cannabis plant but help guide us for future growth.”
"At Sunderstorm, wellness has been the foundation of everything we do, leading to the development of our Tranquility gummy which was scientifically designed to assist in sleep-related issues,” said Cameron Clark, CEO and Co-Founder of Sunderstorm. “We are proud to support Juva’s efforts to further validate the health benefits and efficacy of our Tranquility product and cannabis products within the industry at large."
The goal of the Registry is to collect data on cannabis formulations, chemical composition, dosing and utilization, and the effectiveness of cannabis products in addressing designated medical concerns. The study is open to patients over 21 years of age who have the following conditions or symptoms: chronic pain, anxiety, neuropathy, appetite issues, nausea, sleep issues, and menopausal symptoms. Info on products selected, dosing schedules, impact on symptoms and side effects will be collected. Additionally, the Registry will examine patients’ use of cannabis in conjunction with other prescription medication, including any discontinuation or reduction of the use of opioids after initiation of cannabis-based medications. Learn more and sign up for the JuLi Registry here: https://juvaresearch.com/the-juli-registry/
About CannaCraft
CannaCraft is a vertically-integrated company, founded in 2014 with the mission to produce safe and effective cannabis products. The company currently manufactures and distributes AbsoluteXtracts, Care By Design, Lagunitas Hi-Fi Sessions, Farmer & The Felon, and Loud+Clear from their licensed facilities in Santa Rosa, California. CannaCraft’s product portfolio boasts hundreds of unique products, including vape cartridges, tinctures,
topicals, soft gels, packaged flower, gummies, concentrates, and beverages. Learn more at www.cannacraft.com.
About dosist
dosistTM, based in Los Angeles, California, launched in 2016 and has since become known as a disruptor in both the cannabis and health & wellness industries. dosist was named one of Time Magazine's Best Inventions, recognized by Fast Company as one of the Top 10 Most Innovative Companies in the health sector, and designated by LinkedIn as the number two Top Startups: Hottest U.S. Companies To Work For Now. dosist provides elevated consumer benefits and cannabinoid experiences through their regulated THC business featuring the best cannabis delivery systems and formulas in the vaporization and ingestible markets, and through their dosist health business, launched in late November 2020, expanding the company’s reach across the wellness sector with a new range of CBD+ formulas and products available through its direct-to-consumer platform and at key retailers nationwide. For more information about dosist visit dosist.com and dosisthealth.com.
About LEVEL
LEVEL is a science-driven cannabis company at the forefront of cannabinoid research and innovation that is passionate about helping to guide humans with the information and products they need to make informed decisions and take action. We launched LEVEL with one goal in mind: to create unique, targeted, effects-based cannabis products by formulating cannabinoids in ratios inaccessible from the plant alone.
About Sunderstorm
Established in California in 2015, Sunderstorm is one of the largest and most trusted manufacturers of cannabis products, currently serving the California, Nevada, Massachusetts, Colorado and Canadian markets. Their mission is to help people achieve a life of harmony and wellness with all-natural, consciously made, science-based cannabis products. Widely considered the best tasting gummy in the industry and the 4th-largest edible brand in the U.S., Sunderstorm's award-winning Kanha premium gummies are made with the highest-quality cannabis oils, scientifically extracted and infused to provide a consistent dose.
About San Benito Hemp Company
Since launching in 2019, San Benito Hemp Company has pioneered a unique true solventless process using cutting edge technology to produce efficacious hemp products for a growing global market. Our mission is to promote wellness by offering the best and most dependable supply of Absolute-grade CBD extracts on the market. Our Absolute extraction process is optimized to capture the broadest spectrum of hemp compounds resulting in therapeutically-rich, high-grade products that embody the principles of wellness, balance and sustainability.
To learn more about the JuLi Registry, please visit: https://juvaresearch.com/juli-registry-faq/
ON BEHALF OF THE BOARD,
-Doug Chloupek-
Doug Chloupek, CEO and Founder
Juva Life Inc.
About Juva Life Inc. (CSE: JUVA) (OTCQB: JUVAF) (FRA: 4VV)
Juva Life is employing state-of-the-art pharmaceutical research and development to discover, develop and commercialize safe and effective cannabis products. The Company is leveraging multi-disciplinary research experts across various fields standardization of cultivation, extraction, and formulation to offer consumers reproducible medical benefits. Juva is building upon these natural product process chemistry skills, to now include discovery pharmacology through a validated discovery technology platform. The Company will leverage revenue derived from its retail operations to advance JUVA-019, JUVA-041, and other potentially valuable non-cannabinoid bioactives for consumer and pharma product applications. Juva is working to bring the cannabis market face to face with the sector’s next generation investment grade business model. Find out more at: https://juvalife.com/.
For further information, please contact:
Juva Life Investor Relations
Tel: +1 833-333-5882 (JUVA)
Email: inquiries@juvalife.com
Investor Relations:
Kyle Porter
858.221.8001
juva@cmwmedia.com
Corporate Contact:
1.833.333.JUVA (5882)
Forward Looking Statement
This news release contains statements and information that, to the extent that they are not historical fact, may constitute “forward-looking information” within the meaning of applicable securities legislation. Forward-looking information may include financial and other projections, as well as statements regarding future plans, objectives, or economic performance, or the assumption underlying any of the foregoing. In some cases, forward-looking statements can be identified by terms such as “may”, “would”, “could”, “will”, “likely”, “except”, “anticipate”, “believe”, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook”, or the negative thereof or other similar expressions concerning matters that are not historical facts. Examples of such statements include, but are not limited to, statements with respect to the objectives and business plans of the Company; product development, commercialization strategy and future collaborations.
Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information, including, without limitation, risks relating to the future business plans of the Company; risks that the Company will not be able to retain its key personnel; risks that the Company will not be able to secure financing on reasonable terms or at all, as well as all of the other risks as described in the Company’s management discussion and analysis for year ended December 31, 2020 under the heading “Risks and Uncertainties”. Accordingly, readers should not place undue reliance on any such forward-looking information. Further, any forward-looking information speaks only as of the date on which such statement is made. New factors emerge from time to time, and it is not possible for the Company’s management to predict all of such factors and to assess in advance the impact of each such factor on the Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking information. The Company does not undertake any obligation to update any forward-looking information to reflect information or events after the date on which it is made or to reflect the occurrence of unanticipated events, except as required by law, including securities laws.
The CSE does not accept responsibility for the adequacy or accuracy of this release.
