Juva Life Provides Update on California Cannabis Operations
Juva Life Provides Update on California Cannabis Operations
Redwood City, California – October 3rd, 2023 – Juva Life Inc. (CSE: JUVA) (OTCQB: JUVAF) (FRANKFURT: 4VV) (“Juva Life” or the “Company”), Juva Life, Inc, a life science company with both pharmaceutical research and development and consumer-facing operations in cannabis production and distribution, is delighted to provide an update on its thriving cannabis operations. Juva Life’s cannabis operations consist of Cultivation, Distribution and Retail licenses in California currently spread across two facilities.
The Stockton Cultivation and Distribution facility is the backbone of Juva Life's three renowned brands: Frosted Flowers, Flōs, and Secret Sauce. Frosted Flowers, known for its premium-grade cannabis flowers, is set to launch a new cannabis vape category in the coming months. The custom designed glass cartridge will feature Rosin Absolute, which is produced utilizing an FDA and EU approved solvent for food additives. The Company meticulously integrated this solvent into its extraction methods by using state-of-the-art perfuming technologies not currently employed in the cannabis industry. The benefits of this extraction method included a low-temperature, low-pressure extraction that requires no post-processing. The result is a pure cannabis extract that closely resembles the experience of consuming cannabis flower without the presence of plant matter. Flōs, the Company’s other cannabis flower brand, offers small, premium-grade cannabis flowers at a competitive price point, while Secret Sauce delivers high-grade cannabis concentrates at budget-friendly prices. The company has rapidly expanded distribution of all three brands, securing placements in 110 California retail locations, capturing approximately 13% of the total California cannabis retail market (source: CalMatters).
In related news, Juva Life proudly announces that the Stockton facility is now operating at full capacity after two years of optimization efforts. The facility consistently surpasses industry averages, with top-performing cultivars yielding an impressive 58 to 73 grams per square foot, far exceeding the industry average of 39.5 grams per square foot (source: Cannabis Business Times). In addition, the facility's shift to almost 100% natural gas power generation has resulted in an outstanding 80% reduction in related electricity costs.
Meanwhile, Juva Life's Redwood City retail store, open for just over three months, is experiencing exceptional growth. While many retail stores grapple with declining sales, the Redwood City store is seeing incremental growth and is currently delivering an annualized revenue of over $7 million with a gross margin of 55%.
"As we continue to reach new milestones and set industry standards, Juva Life is thrilled to announce our latest achievements in the thriving cannabis sector,” said Doug Chloupek, Juva Life’s CEO. “Our unwavering commitment to innovation, quality, and operational excellence has allowed us to not only meet but exceed our goals. The success of our Stockton facility operating at full capacity, the expansion of our renowned brands, and the remarkable growth of our Redwood City retail store are all testament to our dedication to delivering value to our customers and shareholders. We are proud of the strides we've made, and we remain focused on leading the way in the evolving cannabis industry.”
In other news, the Company also granted 19,250,000 stock options to directors, officers, employees, and consultants. The stock options are exercisable at $0.045 per stock option and expire 10 years from the date of grant.
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
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.
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