CORDOVACANN CORP - LVRLF STOCK NEWS

CordovaCann Corp. (OTCQB:LVRLF) announced record revenues for its Star Buds Cannabis Co. retail operations, reporting $1.26 million in sales for August with a 25.5% gross margin. This marks a revenue run rate of $15.1 million annually. Six of fourteen stores achieved record monthly revenues, and management anticipates further growth due to closures of competing stores and increased customer awareness. The company aims to expand its footprint in Canada through organic growth and acquisitions, despite the current challenging economic environment.

CordovaCann Corp. has acquired assets from AuBio Labs for USD 700,000, enhancing its position in the cannabis market. The acquisition, finalized on June 27, 2022, allows Cordova to manufacture a range of cannabis products under the AuMor brand and via white label agreements in California, the largest cannabis market globally. The deal includes extraction equipment, intellectual property, and distribution contracts. Cordova will provide loans totaling USD 400,000 over six months, with an option to convert to equity, positioning the company for significant growth.

Star Buds Cannabis Co., a Canadian retailer under CordovaCann Corp. (OTCQB:LVRLF), partners with DoorDash Technologies Canada to introduce in-app cannabis ordering and pickup in Barrie and Innisfil, Ontario. This initiative aims to enhance accessibility for consumers outside urban areas. The collaboration is expected to boost Star Buds' brand presence and product reach. Star Buds is committed to supporting local communities and has previously contributed to charitable causes across Canada.

CordovaCann Corp. (OTCQB:LVRLF) has successfully closed a non-brokered private placement financing, issuing 6,718,000 units at a price of $0.25 USD per unit, totaling $1,679,500 USD in gross proceeds. The funds will be allocated for capital expenditures and acquisitions related to Canadian retail operations. Additionally, the company has appointed Tom Bushey to its Board of Directors, who brings extensive experience in investment and capital allocation. The financing aims to expand the Star Buds Cannabis Co. retail brand in Canada.

CordovaCann Corp. (OTCQB:LVRLF) has opened its fourteenth Star Buds Cannabis Co. retail store in Amherstview, Ontario, on February 12, 2022. This marks the eighth store launch in Ontario as part of Cordova's expansion strategy. The grand opening is scheduled for February 18, 2022. The company plans to accelerate its growth by opening three more stores soon and acquiring additional locations in multiple provinces. Cordova aims to enhance brand recognition across Canada, positioning itself for a stronger market presence.

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.

CordovaCann Corp. (OTCQB:LVRLF) reports significant progress with its retail brand, Star Buds Cannabis Co., achieving a 25% market share in East Ontario for September. The company also introduced a two-hour delivery service in Winnipeg and plans to continue expanding in Alberta and British Columbia, with new stores set to open soon. Management remains optimistic about ongoing strong sales performance and future market share growth.

CordovaCann Corp. (OTCQB:LVRLF) reported a significant increase in retail revenues from its Star Buds Cannabis Co. stores for the fiscal year ended June 30, 2021, generating $10.3 million compared to $0.2 million in the previous year. The company's net loss per share improved to (0.06) from (0.10). In October alone, revenues reached $1.26 million with a gross margin of 25.7%, highlighting strong sales in newly opened stores. The firm plans to continue expanding its retail presence throughout 2022.

CordovaCann Corp. (OTCQB:LVRLF) announced on October 26, 2021, that it signed a non-binding letter of intent to acquire the assets of HM Scientific, LLC and AuBio Labs, LLC, a California-based cannabis company. The transaction, valued at $700,000 and one million common shares, aims to enable Cordova to manufacture cannabis products across California. The acquisition includes extraction equipment, intellectual property, and existing contracts. Closing is expected by December 15, 2021, pending due diligence and board approval.