Juva Life, 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.
California, United States, October 4, 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 brief
Juva Life says its California cannabis business operates cultivation, distribution and retail facilities in Stockton and Redwood City. The Stockton facility has reached full capacity following two years of optimization, and the company reports that some cultivars yield 58 to 73 grams per square foot. Juva says a shift to almost entirely natural gas power cut related electricity costs by 80%. Its Frosted Flowers, Flōs and Secret Sauce brands are now available at 110 California retail locations, and Frosted Flowers plans to add a vape category featuring Rosin Absolute. The company also reports that its Redwood City store is generating annualized revenue of more than $7 million at a 55% gross margin. Separately, Juva granted 19,250,000 stock options to directors, officers, employees and consultants.
Key takeaways
- Juva says the Stockton cultivation and distribution facility is operating at full capacity.
- Three Juva cannabis brands have placements in 110 California retail locations.
- The company reports annualized revenue above $7 million and a 55% gross margin at its Redwood City store.
- Juva granted 19,250,000 stock options, exercisable at $0.045 each and expiring 10 years from grant.
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.
Contact Info:
Name: Cliff Nichols
Email: Send Email
Organization: Juva Life Inc
Website: https://juvalife.com/
Source: PR Fire
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At a glance
- Company
- Juva Life Inc.
- Ticker
- CSE: JUVA, OTCQB: JUVAF, FRANKFURT: 4VV
- Announcement
- Expansion
- Location
- California, United States
Key figures
- California retail locations
- 110
- Cultivar yields reported
- 58 to 73 grams per square foot
- Reduction in related electricity costs
- 80%
- Redwood City store annualized revenue
- over $7 million
- Redwood City store gross margin
- 55%
- Stock options granted
- 19,250,000
People
- Doug ChloupekCEO
