–Company provides summary of activities in California
VANCOUVER, British Columbia, Nov. 25, 2020 (GLOBE NEWSWIRE) — Juva Life Inc. (CSE: JUVA) (OTC: JUVAF) (FRANKFURT: 4VV)(“Juva Life,” “Juva” or the “Company”), a premier California based multi-faceted life sciences company focused on the commercialization of Cannabis products and formulations, is pleased to announce the commencement of trading on the Börse Frankfurt exchange (FRA) under the ticker symbol “4VV.” Additionally, the international registry ISIN number is CA48222R1010 and the German WKN registry number is A2QHTZ. For those new to the Juva story a summary of past and future activities is outlined below and available on the Company website at www.juvalife.com.
Juva Life California Subsidiary
Juva Life Inc. USA, a California corporation and wholly owned subsidiary of Juva Life Inc. (as of May 30, 2019) was originally incorporated in 2018 and represents the culmination of decades of concentrated effort in the cannabis sector. Juva Stockton Inc. a wholly owned subsidiary of Juva Life Inc holds a Conditional Use Permit (“CUP”) from the city of Stockton, California which, subject to certain conditions, permits the Company to cultivate, manufacture, distribute and deliver cannabis for the medical and recreational markets within the State. Juva Stockton successfully launched its delivery service from this location in October 2020. Additionally, in October 2020, after a 2.5-year process, Precision Apothecary Inc, a wholly owned subsidiary of Juva Life Inc, now holds a CUP allowing for a Microbusiness operation in the City of Hayward, California. This permit will allow Juva to cultivate, manufacture, formulate, research, distribute and operate a retail cannabis storefront and delivery business in that municipality. Concurrently, the Company’s Redwood City delivery location has been fully operational since February 2020 and has experienced double-digit growth month over month since commencement of operations.
On May 31, 2020, Juva Life closed a private placement financing with cumulative gross proceeds in excess of $18,000,000. As of June 30, 2020, the Company had working capital of $8,270,000 (excluding warrant liability). Use of funds to-date includes costs for facility construction and equipment, licensing and permitting, marketing, branding, staff recruitment and implementation of sales personnel, pipeline project acquisitions and general administration.
The Company is made up of six divisions: Cultivation, Research, Manufacturing, Distribution, Retail and Delivery. Each division services specific vertical markets within a fully integrated framework under the guiding premise of commercially engaging the many ways cannabis can fundamentally improve individual quality of life.
Juva Life’s strategic plan is to be a fully autonomous, vertically-integrated cannabis business with two primary missions: (1) to achieve the lowest cost of production by owning licenses for retail sales, manufacturing, distribution and cultivation of cannabis and to employ each license to propel our supply chain with select brick and mortar storefronts and multiple delivery businesses throughout the State of California; and (2) to develop “precision cannabis” products that deliver the right formulation to the right individual at the right time. Juva plans to develop intellectual property and secure patent protection on each of its custom medical formulations and will focus its research registries in areas of inflammation, oncology, neurology, pain management and opiate reduction.
Management & Advisors
Led by Founder & CEO Doug Chloupek, the Juva Life team brings over 20 years management experience in the cannabis sector. Their knowledge and experience provide operational oversight in navigating the regulatory framework of the California cannabis market. Additionally, the Company has attracted an advisory board of highly respected and influential doctors, clinicians, and researchers from fields of medicine that range from pain management to oncology. Find out more about our team at https://juvalife.com/about/.
Production, Operations and Management Facilities
Juva Life currently has five leased properties and one option to lease space in the cities of Stockton, Hayward and Redwood City, California, and is in the process of building out its facilities and obtaining the necessary State and local authorizations to undertake its current and proposed operations.
San Juan and Navy Drive Facilities
Currently developing two locally permitted cannabis production facilities totaling approximately 41,448 square feet, including: (1) an approximate 30,000 square foot production facility located on San Juan Drive in Stockton, California; and (2) an approximate 11,448 square foot facility located on Navy Drive in Stockton, California. These facilities will support cultivation, manufacturing, retail sales (non-storefront delivery only) and wholesale distribution supporting direct-to-consumer delivery operations in the north San Joaquin Valley as well as operate as the Corporation’s Central Valley distribution hub.
The San Juan facility is fully licensed by the city and state for delivery services and began Non-storefront retail (delivery) in October 2020. The facility is licensed by the city for cultivation, manufacturing and distribution and subject to final state approval, is poised to immediately commence cultivation operations.
Clawiter Road and Enterprise Avenue Buildings
The Hayward Facilities consist of two adjacent buildings with an existing Class 5 clean room as part of the 18,000 square foot building and 11,000 square feet of greenhouses for cultivation. The Hayward operation includes cultivation of high-quality greenhouse material for extraction, a flagship retail store, a delivery hub for the entire East San Francisco Bay area, CO2 extraction, formulation, isolation and contract product development. The Hayward campus totals approximately 35,000 square feet and is also planned to offer “white labeling” services to provide new or existing brands to introduce products to the California marketplace.
Juva Life received approval of their CUP in October 2020. Management expects construction of the R&D lab to be completed, and the lab facilities to be licensed and operational by the end of Q1 2021. Juva further expects construction on the cultivation, retail, manufacturing area and distribution facilities at the Hayward buildings to be completed, licensed and operational by the end of Q3 2021.
Redwood City, California
Convention Way Facility, Redwood City Offices
Non-storefront retail (delivery) cannabis facility. This delivery operation services the Bay Area Peninsula from San Francisco to San Jose. Juva believes its dispatch service area encompasses approximately 1.67 million potential customers. Juva obtained approval of its local Redwood City Cannabis Business Permit and Conditional Use Permit in May, 2019, and the State license was issued in September 2019. The Corporation formally began delivery operations in January of 2020 and has seen double digit growth quarter on quarter. Additionally, Juva occupies approximately 2,000 square feet of office space used for executive offices in Redwood City, CA.
Mr. Doug Chloupek, CEO and Founder of Juva Life Inc. notes, “Coming on the heels of our recent launch onto the North American markets, we are delighted to announce our entry into the European marketplace via our Frankfurt market listing today. We welcome the interest and support of this highly engaged investment community and look forward to a mutually advantageous journey together. We are excited to continue building our consumer brand and in advancing a number of ambitious agendas including our proposed Life Sciences program to develop and fast track new and innovative formulations that we believe will positively impact a potential base of health and wellness afflicted individuals around the globe. To achieve these goals, we sincerely value our expanding relationship with an increasingly global investment community and look forward to working together as we build value for our shareholders by rapidly growing our exciting enterprise.”
In related news, the Company advises it has hired Media Relations Publishing for the fee of €350,000 for marketing and communications services.
As part of the Company’s disclosure obligations as a public issuer, ongoing financial and material filings can be found on the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com.
ON BEHALF OF THE BOARD,
Doug Chloupek, CEO & Founder
Juva Life Inc.
About Juva Life Inc. (CSE: JUVA) (OTC: JUVAF) (FRA: 4VV)
Juva Life is working to bring the cannabis market face to face with the sector’s next generation investment grade business model. From in-house research, cultivation, manufacturing, retail, and delivery services, Juva employs state of the art tools in discovery, development, and data science to identify new molecular profiles for major unmet medical needs. Our initial focus is on cannabis, where we are deploying our platform to target consumer and pharma applications. Find out more at: https://juvalife.com/.
For further information, please contact:
Juva Life Investor Relations
Tel: +1 833-333-5882 (JUVA)
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; ability to realize benefits from its recent corporate appointments; ability to retain its key personnel; the intention to grow the Company’s business and operations; the competitive conditions of the industries in which the Company operates; and laws and any amendments thereto applicable to the Company.
Forward-looking information is based on the assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. The material factors and assumptions used to develop the forward-looking information contained in this news release include, but are not limited to, key personnel and qualified employees continuing their involvement with the Company; and the Company’s ability to secure financing on reasonable terms.
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, 2019 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.