Juva Life Commences Industrial Scale Cannabis Cultivation at Stockton Facility

Rhea-AI Summary

Juva Life Inc. (CSE: JUVA) (OTCQB: JUVAF) has commenced commercial cannabis cultivation at its Stockton, California facility. Following state licensing approval, the company has begun planting propagated cannabis clones, aiming for its first harvest within weeks. The goal is to generate 6,000 pounds of premium cannabis annually, with a harvest every twelve days once fully operational. Juva has invested in systems to enhance operational efficiency and reduce costs, projecting a 50% decrease in electrical expenses. This move marks Juva's transition from development to commercial enterprise, with potential increased revenues and future proprietary product development.

Positive

• Commencement of commercial cannabis cultivation at Stockton facility.
• Anticipated annual output of 6,000 pounds of cannabis flower.
• Operational efficiency improvements projected to reduce electrical costs by 50%.
• Ability to transition from development phase to commercial enterprise, leading to increased revenues.

Negative

• None.

Propagated cannabis seedlings planted to accelerate first harvest

VANCOUVER, British Columbia, Feb. 23, 2021 (GLOBE NEWSWIRE) -- Juva Life Inc. (CSE: JUVA) (OTCQB: JUVAF) (FRANKFURT: 4VV) (“Juva Life,” “Juva” or the “Company”), a California based life sciences company focused on the research, development, and commercialization of Cannabis products is extremely pleased to announce the commencement of commercial cannabis cultivation at its Stockton, California facility.

Subsequent to state licensing approval in January, the Juva cultivation team quickly concluded preparatory efforts for plant delivery this week. After 30 months of development effort, Juva Life has entered a vitally important phase of its business development with this week’s planting program now underway within the dedicated flowering rooms at its 30,000 sq. ft. facility.

In a move to accelerate the first two harvests, VP of Horticulture, Thomas Leschak, and his select team of cultivation experts have commenced planting using propagated cannabis clones provided by a 3^rd party. Future clones will be developed from a large collection of proprietary genetic seed stock privately developed over the past decade.

Harvested material will be dried within the facility utilizing specially designed, built, and monitored drying rooms. Upon reaching optimal moisture levels, the material will be moved to the dedicated trim area for processing and grading before moving to final curing. The cultivation team anticipates each room to deliver a full harvest five times per year. The process began this week with the first of five flowering rooms fully planted. Once all five rooms are functional, operational scheduling calls for a harvest every twelve days with an anticipated combined annual output of 6,000 pounds of high-quality cannabis flower.

Juva Life placed significant orders of growing medium, nutrients and fertilizers several months ago to ensure a stockpile was on hand and available for immediate use. Juva has also installed advanced onsite nutrient analysis and PH monitoring systems. Extensive monitoring and adaptive controls have been integrated to track feeding schedules based on temperatures, humidity, soil PH and related nutrient data to ensure environmental stability. Filtered reverse osmosis systems treat condensate from HVAC systems to reduce water consumption, and the entire primary power system is provided by low emission natural gas-powered generators. In keeping with the company’s commitment to quality and efficiency, the power system is projected to reduce annual electrical costs by up to 50% and provides separation from the unreliable California power grid which faced multiple regional outages last year which could have resulted in costly crop failures.

Juva Life’s Stockton facility also includes a delivery, packaging, and distribution center. The growing cannabis delivery fleet offers nearly 400 product SKU’s across San Joaquin County with expansion plans into the surrounding region later this year. The separate distribution center will manage B2B shipments of bulk cannabis and future distribution of Juva branded products.

Company Founder and CEO, Doug Chloupek states, “It has been a long time coming, but I’ve always been confident we’d get here as planned. Needless to say, I’m really pleased to finally have our plants in the ground. We can now count the days to increased revenues through commercial sales, and the ability to help fund our life sciences programs which will ultimately lead to an entire class of new proprietary products. We have entered an especially important part of our value proposition. Today marks the day we move beyond development-stage into commercial enterprise.”

For those new to the Juva story, please visit our website at www.juvalife.com.

ON BEHALF OF THE BOARD,

-Doug Chloupek-

Doug Chloupek, CEO & Founder
Juva Life Inc.
inquiries@juvalife.com

About Juva Life Inc. (CSE: JUVA) (OTCQB: 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)
Email: inquiries@juvalife.com

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.

FAQ

What is the significance of Juva Life's recent cannabis cultivation announcement?

The announcement marks Juva Life's transition from development to commercial operations, aiming to generate significant revenue from cannabis sales.

How much cannabis does Juva Life expect to produce annually at its Stockton facility?

Juva Life anticipates an annual output of 6,000 pounds of high-quality cannabis flower from its Stockton facility.

When did Juva Life receive state licensing approval for its cultivation facility?

Juva Life received state licensing approval in January 2021, allowing for the commencement of cultivation in February 2021.

What operational efficiencies has Juva Life implemented at its facility?

Juva Life has installed advanced systems for nutrient analysis and PH monitoring, which will significantly reduce annual electrical costs by up to 50%.