Juva Life Inc. (CSE: JUVA) (OTCQB: JUVAF) (FRANKFURT: 4VV), recognised as a life sciences enterprise, melding pharmaceutical research and consumer-facing activities in the realm of cannabis production and distribution, is elated to furnish an update on its flourishing cannabis undertakings. Within California, Juva Life operates under Cultivation, Distribution, and Retail licenses, strategically situated across two distinct establishments.
The pivotal nucleus of Juva Life’s triumvirate of eminent brands, encompassing Frosted Flowers, Flōs, and Secret Sauce, is the Stockton Cultivation and Distribution centre. Notably, Frosted Flowers, celebrated for its top-tier cannabis blooms, is poised to inaugurate a novel cannabis vaping category in the imminent months. This endeavor entails a bespoke glass cartridge, artistically formulated to incorporate Rosin Absolute, an ingredient sanctioned by the FDA and EU for application in food additives. The integration of this solvent into Juva Life’s extraction techniques, employing cutting-edge perfuming technologies hitherto absent in the cannabis sector, is marked by the advantages it confers. Notably, it facilitates a low-temperature, low-pressure extraction process, necessitating no subsequent refinements. The end result manifests as an unadulterated cannabis concentrate, closely emulating the sensory experience of consuming cannabis flowers, devoid of vegetal remnants. Flōs, the company’s alternative cannabis flower label, extends petite, superior-quality cannabis blooms at a competitive pricing threshold, while Secret Sauce introduces high-calibre cannabis concentrates at affordable rates. The company has rapidly disseminated its trifecta of brands, securing placements within 110 California retail establishments, capturing an estimated 13% share of the expansive California cannabis retail sector (source: CalMatters).
In a parallel narrative, Juva Life jubilantly reports the Stockton facility’s culmination of two years of optimisation endeavors, attaining peak operational efficiency. This facility consistently outperforms industry norms, delivering remarkable yields of 58 to 73 grams per square foot for the foremost cultivars, in stark contrast to the sector’s conventional average of 39.5 grams per square foot (source: Cannabis Business Times). Furthermore, the facility’s transition to nearly 100% natural gas power generation has yielded an exceptional 80% reduction in power-related expenditures.
Concurrently, the Redwood City retail emporium operated by Juva Life, in operation for just over three lunar cycles, is currently undergoing exceptional expansion. While myriad retail outlets grapple with waning sales figures, the Redwood City outlet records gradual expansion, currently churning out an annualised revenue of over $7 million, bolstered by a substantial 55% gross profit margin.
Doug Chloupek, Juva Life’s Chief Executive Officer, articulates, “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 an ancillary development, the Company has awarded 19,250,000 stock options to its cadre of directors, officers, employees, and consultants. These stock options are exercisable at $0.045 per unit and are valid for a decade from the date of their issuance.