Company Was Previously the Highest-Scoring Applicant During the Permitting Process in Redwood City, California
VANCOUVER, British Columbia, Nov. 08, 2022 (GLOBE NEWSWIRE) -- Juva Life Inc. (CSE: JUVA) (OTCQB: JUVAF) (FRANKFURT: 4VV) (“Juva Life,” “Juva,” or the “Company”), a life science company with both pharmaceutical research and development and consumer-facing operations in cannabis production and distribution, announced today that the Company has started construction on their upcoming Redwood City, CA retail location. The retail cannabis storefront is expected to open for business in Q1 2023 in Downtown Redwood City, California, at 2301 Broadway Street.
“Starting construction of our Redwood City Retail location is an exciting process, and we are on track to open our doors in early 2023. Juva has proudly been delivering products for nearly 2.5 years in Redwood City and the surrounding areas, and we are excited to open our first cannabis brick and mortar retail store,” said Doug Chloupek, CEO and Founder of Juva Life. “Juva was the first operational cannabis delivery company in Redwood City and we expect to be the first retail store as well; we look forward to further solidifying our presence and making deeper connections with our customers in this region.”
Redwood City, California, has a retail cannabis program that was developed hand-in-hand with community support following the state’s legalization of adult-use cannabis sales in 2018. As previously announced on April 6, 2022, Juva was granted one of only four approvals within Redwood City, allowing storefront retail cannabis businesses in commercial and mixed-use zones. The process included a merit-based application to ensure high-quality retail cannabis business operators would be thoroughly reviewed and sufficiently qualified before receiving a permit. 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 dual-pronged approach to its business, with the other side of operations consisting of pharmaceutical research and rigorous cannabis science to unlock the secrets behind the cannabis plant’s anecdotal benefits. Juva continues discovery efforts to identify new compounds and advance JUVA-041 through industry standard pre-clinical inflammatory models and non-clinical tests enabling IND filing. Beyond its clinical research programs, Juva also recently relaunched its WIRB-approved JuLi Registry study with the goal of cultivating one of the largest data sets on the medicinal applications of cannabis use to exist to date.
ON BEHALF OF THE BOARD,
-Doug Chloupek-
Doug Chloupek, CEO and Founder
Juva Life Inc.
inquiries@juvalife.com
About Juva Life Inc. (CSE: JUVA) (OTCQB: JUVAF) (FRA: 4VV)
Juva Life is employing state-of-the-art science to discover, develop and commercialize safe and effective wellness and pharmaceutical products, in both the cannabis consumer segment as well as the non-cannabinoid based medical industry. The Company is successfully executing against its 2018 roadmap, initially starting with standardization of cultivation, extraction, and formulation to offer consumers reproducible benefits. Juva is building upon these natural product process chemistry skills, to now include discovery pharmacology. The Company will leverage revenue derived from its retail operations to advance its consumer and clinical development efforts of Juva-019 and Juva-041, as well as other potentially valuable non-cannabinoid bioactives with significant consumer and pharma products 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
Investor Relations:
Kyle Porter
858.221.8001
juva@cmwmedia.com
Corporate Contact:
1.833.333.JUVA (5882)
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; product development, commercialization strategy and future collaborations.
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, 2020 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.
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