CordovaCann (CSE: CDVA / OTCQB: LVRLF) Receives License to Open First Star Buds Cannabis Co. Store in British Columbia
CordovaCann Corp. (CSE:CDVA) (OTCQB:LVRLF) has received regulatory approval to open its first Star Buds Cannabis Co. store in British Columbia, making it the 13th location in Canada. Positioned in Kelowna at 2090 Harvey Avenue, the store will open in early February with a grand opening slated for February 12, 2022. The company plans to launch three more stores in Canada over the next two months and is exploring acquisition opportunities. Previous store openings have led to record revenues, indicating a robust growth trajectory for 2022.
- Received approval for 13th store in British Columbia, indicating expansion.
- Plans to open three additional stores in Canada within two months.
- Recent store openings reported record revenues in December.
- None.
Star Buds Cannabis Co. Granted Regulatory Approvals to Operate in Fourth Canadian Province with the Company's 13th Store in Canada
TORONTO, ON / ACCESSWIRE / January 24, 2022 / CordovaCann Corp. (CSE:CDVA) (OTCQB:LVRLF) ("Cordova" or the "Company"), a cannabis-focused consumer products company, is pleased to announce that it has received its cannabis retail license to open the first Star Buds Cannabis Co. store in the province of British Columbia. The store is located at 2090 Harvey Avenue, Unit 2 in the City of Kelowna, and it will be the thirteenth Star Buds Cannabis Co. branded retail store in Canada. The store will open in early February and 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, February 12, 2022.
Cordova is continuing its strong pace of store openings with plans to open three additional Star Buds Cannabis Co. retail stores across Canada in the next 2 months. The Company is also currently considering acquisition opportunities to accelerate growth.
Newly opened stores continue to ramp nicely, and the six most recently opened stores in the chain all generated record revenues in December. This growth, combined with the expanding operations in the United States position Cordova for a strong 2022.
"We are excited to finally open our first store in British Columbia and bring the Star Buds Cannabis Co. brand to Kelowna," stated Taz Turner, Chairman and CEO of the Company. "Our belief in our Canadian retail strategy has never been stronger, and we believe our presence across Canada will open up additional growth opportunities for the brand."
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.
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" under the provisions of applicable Canadian securities legislation, concerning the business, operations and financial performance and condition of the Company. All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to the Company within the meaning of applicable Canadian securities laws, including statements with respect to the Company's planned business activities, the anticipated benefits of the opening of the store and the prospect of opening additional retail stores. Generally, this forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes", or variations or comparable language of such words and phrases or statements that certain actions, events or results "may", "could", "would", "should", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof. Forward-looking information is necessarily based upon a number of factors and assumptions that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements expressed or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including anticipated costs and ability to achieve business objectives and goals.
Certain important factors that could cause actual results, performances or achievements to differ materially from those in the forward-looking information including but not limited to: global economic and market conditions; the war on terrorism and the potential for war or other hostilities in other parts of the world; the availability of financing and lines of credit; successful integration of acquired or merged businesses; changes in interest rates; management's ability to forecast revenues and control expenses, especially on a quarterly basis; unexpected decline in revenues without a corresponding and timely slowdown in expense growth; the Company's ability to retain key management and employees; intense competition and the Company's ability to meet demand at competitive prices and to continue to introduce new products and new versions of existing products that keep pace with technological developments, satisfy increasingly sophisticated customer requirements and achieve market acceptance; relationships with significant suppliers and customers; as well as other risks and uncertainties, including but not limited to those detailed from time to time in the Company's public filings on EDGAR and SEDAR. Although the Company believes its expectations are based upon reasonable assumptions and has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. The Company provides forward-looking information for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to known and unknown risks, uncertainties and other important factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are made as of the date hereof and, accordingly, are subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by applicable law.
Company Contact:
Taz Turner
Chief Executive Officer
taz@cordovacann.com
(917) 843-2169
SOURCE: CordovaCann Corp.
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FAQ
What is the significance of CordovaCann's new store opening in British Columbia?
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