Juva Life Granted First-of-Its-Kind License for Retail Cannabis Storefront in Redwood City, California
In Highly Competitive Process, Vertically Integrated California Cultivator and Life Science Research Company Approved to Launch Brick-and-Mortar Location
VANCOUVER, British Columbia, April 6, 2022 (GLOBE NEWSWIRE) — Juva Life Inc. (CSE: JUVA) (OTCQB: JUVAF) (FRANKFURT: 4VV) (“Juva Life,” “Juva” or the “Company”), a life science company with phar
maceutical research and development and consumer-facing operations in cannabis production and distribution, announced today the Company’s subsidiary, Juva Retail RWC Inc, was granted a license to operate a retail cannabis storefront in Redwood City, California, at 2301 Broadway. Juva was granted one of only four approvals allowing storefront retail cannabis businesses in commercial and mixed-use zones, following a rigorous and highly competitive application process.
“We thank the City of Redwood City for the care and attention they put to our retail storefront application, and we are honored that we have been awarded with the license,” said Doug Chloupek, CEO and Founder of Juva. “The Juva retail storefront is a business milestone that we have strategically worked on for nearly two years. We look forward to providing our customers the same five-star service and best-in-class products we are known for offering through Juva Delivery at our new storefront location.”
Redwood City has a four-phase cannabis program that was developed hand in hand with community support following the state’s legalization of adult-use cannabis sales in 2016. Phase I ensured the applications were complete, Phase II involved critical evaluation and scoring, Phase III involved interviews and further scoring, and Phase IV was the final City Manager Selection of chosen businesses.
The process included a rigorous, staff-led, merit-based application to ensure high-quality retail cannabis business operators would be thoroughly reviewed and sufficiently qualified before receiving a permit. All applications for cannabis storefront retail were required to provide relevant information, including neighborhood compatibility, security and safety plans, and community benefits plans.
Juva Retail RWC Inc. was the highest-scoring applicant overall, being awarded a total of 1,876 points in Phase III, which, when combined with the Company’s Phase II score of 1,196 points, equals 3,072 points for a total score of 96%.
Additionally, Juva Life continues its focus on pharmaceutical and life sciences research, and is working to identify the mode of action behind cannabis’ anecdotal ability to control pain and inflammation. The Company recently identified non-cannabinoid compounds JUVA-019 and JUVA-041, on which the Company has filed patent applications and has conducted preclinical research showing that the compounds are effective as stand-alone compounds in inhibiting inflammation by modulating certain biomarkers in the body. JUVA-019 and JUVA-041, which the Company has nominated as lead drug candidates for further preclinical investigation, are currently advancing through phenotypic models of chronic diseases of aging.
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
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