Star Buds Cannabis Co. Retail Revenues Reach Record High in September
TORONTO, ON / ACCESSWIRE / October 15, 2021 / CordovaCann Corp. (CSE:CDVA) (OTCQB:LVRLF) ("Cordova" or the "Company"), a cannabis-focused consumer products company, is pleased to announce that its twelfth Star Buds Cannabis Co. branded retail store will open tomorrow, Saturday, October 16, 2021. The store, located at 16737 127 Street NW in the City of Edmonton, is the second store opened by Cordova in Alberta. Tomorrow this Star Buds Cannabis Co. store will be open for walk-in customers and for processing of online orders for in-store pickup that are made through its website www.starbuds.co. The official grand opening of the store is scheduled for Saturday, October 23, 2021.
Cordova is continuing its strong pace of store openings with plans to open five additional Star Buds Cannabis Co. retail stores across Canada before the end of the year. September was a record revenue month for the Star Buds Cannabis Co. retail chain, and October is on track to set another record. Through the first 13 days of October, the store chain in Canada generated revenues of $536,021 with a gross margin of 29%. This equates to a revenue run rate of $15.3 million annually.
"We are happy to open our second store in Alberta and believe the excellent location will drive a new crowd of consumers to Star Buds Cannabis Co.," stated Taz Turner, Chairman and CEO of the Company. "We believe the City of Edmonton will be a strong source of growth for our brand and we will be opening other stores in the market in the coming months."
About CordovaCann Corp.
CordovaCann Corp. is a Canadian-domiciled company focused on building a leading, diversified cannabis products business across multiple jurisdictions including Canada and the United States. Cordova primarily provides services and investment capital to the retail, processing and production vertical markets of the cannabis industry.