Welcome to our dedicated page for Cordovacann news (Ticker: LVRLF), a resource for investors and traders seeking the latest updates and insights on Cordovacann stock.
CordovaCann Corp. (OTCQB: LVRLF) is a Canadian-domiciled, cannabis-focused consumer products company whose public news flow is heavily centered on the performance of its Star Buds Cannabis Co. retail platform in Canada. Company updates frequently highlight the results of its 11 Star Buds Cannabis Co. stores, including reported trends in monthly revenues, year-over-year growth, and gross margin levels across the chain and in specific provinces such as Ontario.
Investors and observers following LVRLF news can expect regular disclosures on how the Star Buds Cannabis Co. stores are performing in what the company describes as a challenging environment for retail cannabis. These updates often discuss market share gains, store-level profitability, and the impact of cost controls, product assortment, and customer service on the chain’s results. Management commentary commonly addresses the efficiency of the current store portfolio and the role of store closures or optimization in improving overall cash flow.
CordovaCann’s news releases also provide insight into its strategic decisions and geographic focus. For example, the company has reported a decision to wind down operations in Oregon and Washington and to divest assets in those states, while indicating that it plans to have limited cannabis exposure in the United States in the near term. Earlier communications describe a non-binding letter of intent with Jackson BevCo, Inc. for a managed services agreement related to cannabis retail stores within or beside Jacksons convenience stores in certain western U.S. states.
By reviewing the LVRLF news feed, readers can track how CordovaCann presents the performance of Star Buds Cannabis Co., its adjustments to its U.S. footprint, and its ongoing emphasis on the Canadian retail cannabis market. This context can help users understand how the company describes its operations, strategic priorities, and the factors it identifies as influencing its business over time.
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.
CordovaCann Corp. (OTCQB:LVRLF) announces the opening of its twelfth Star Buds Cannabis Co. retail store in Edmonton on October 16, 2021. The store will facilitate walk-in customers and online order pickups. September marked a record revenue month for the chain, and October is projected to surpass that with revenues of $536,021 recorded in the first 13 days, equating to a potential annual run rate of $15.3 million. The company remains on track to open five more stores in Canada by year-end, indicating a strong growth trajectory in the cannabis market.
CordovaCann Corp. (CSE:CDVA, OTCQB:LVRLF) has opened its 11th Star Buds Cannabis Co. store in Barrie, Ontario, marking its seventh retail location in the province. The store is now open for walk-in customers and accepts online orders for in-store pickup. The grand opening event is scheduled for October 1, 2021. CordovaCann continues its expansion strategy, with two more stores set to launch within the next 30 days and an additional four before year-end. The company aims to establish Star Buds as a national brand across Canada.
CordovaCann Corp. (OTCQB:LVRLF) has launched its tenth Star Buds Cannabis Co. retail store in Winnipeg, Manitoba, marking its third store in the province. Located at 1566 Pembina Highway, the store opens for walk-ins and online orders. A grand opening is set for October 1, 2021. The company plans to continue expanding its store network across Canada and anticipates a record month for its retail chain this September, signaling strong demand and growth potential in the cannabis sector.
CordovaCann Corp. announced record retail revenues from its Star Buds Cannabis Co. stores in Canada for August, reaching $1.23 million with a gross margin of 28.4%.
This results in an annual revenue run rate of $14.8 million. More than half of the nine stores reported their highest monthly revenues to date. The company plans to open five new stores within 60 days and is considering acquisitions to support further growth.
CordovaCann Corp. has opened its 9th Star Buds Cannabis Co. store in Angus, Ontario, expanding its retail presence in Canada. This store, operated by Cordova's subsidiary, started accepting walk-ins and online orders on August 27, 2021, with a grand opening planned for August 31. The company anticipates further store openings soon, contributing positively to its revenue and cash flow. CEO Taz Turner expressed optimism about the brand's growth and performance, indicating August could be a record month for the chain.
CordovaCann Corp. (OTCQB:LVRLF) has opened its eighth Star Buds Cannabis Co. store in South Wasaga Beach, Ontario, marking its fifth location in the province. The store began processing online orders and will officially open on August 20, 2021. CordovaCann is also announcing the successful closure of a non-brokered private placement financing, issuing 3,379,379 units at $0.30 each, generating gross proceeds of $1,013,814. Funds will be used for inventory, capital expenditures, and general corporate purposes as the company aims to expand its retail presence across Canada.
CordovaCann Corp. (OTCQB:LVRLF) reported record retail revenues for its Star Buds stores in June and July, achieving $1.2 million in July with a 28.7% gross margin. Revenue grew 13% over June, indicating strong recovery post-lockdowns. With plans to open 10 new stores by year-end, including the first in British Columbia, the company aims to expand its footprint across Canada. Despite industry slowdowns, Star Buds has outperformed expectations, reflecting strong operational management and customer demand.
CordovaCann Corp. has provided an update on its Cannabilt Farms operation, indicating it will reach maximum cultivation capacity by the end of 2021. The company has sold its Oregon property for US $2.2 million and entered a ten-year lease, with the first three months rent-free. This sale will help retire debts and finance expansion, allowing for up to 10,000 sq. ft. of indoor cultivation. The expected buildout will include a 14,000 sq. ft. extraction facility, enhancing product offerings and profitability.
CordovaCann Corp. (CSE:CDVA, OTCQB:LVRLF) announced its seventh Star Buds cannabis retail store will open on June 30, 2021, in Winnipeg. The company's six existing stores generated $1.04 million in May, marking the second consecutive month above $1 million. With a 28.6% gross margin, the annual revenue run rate is estimated at $12.5 million. CordovaCann plans to expand further with an additional 11 stores expected to open in the next six months, increasing their presence across Canada.