CORDOVACANN CORP - LVRLF STOCK NEWS

CordovaCann Corp. (CSE:CDVA)(OTCQB:LVRLF) is set to present at the Emerging Growth Conference on March 17, 2021, at 11:30 AM ET. CEO Taz Turner will lead a 30-minute presentation followed by a Q&A session, inviting questions from attendees. Interested investors can register for the webcast via the provided link. An archived version will be available for those unable to attend live. CordovaCann focuses on offering services and capital in the cannabis industry across Canada and the U.S.

CordovaCann Corp. (OTCQB:LVRLF) has announced the opening of its sixth Star Buds retail store in Canmore, Alberta. The store has begun processing online orders and is set for its grand opening on March 12-13, 2021. In the first two months of 2021, the Star Buds chain generated $1.7 million in revenue with a gross margin of 35.7% across five profitable locations. The company plans to accelerate its expansion in Alberta and across Canada, driven by strong store performance despite previous lockdowns.

CordovaCann Corp. has completed its acquisition of Extraction Technologies, Inc., a Washington-based cannabis extraction company. This strategic move aims to enhance Cordova's product offerings and market presence in Washington. The acquisition involves a 10,900 sq. ft. manufacturing facility and contracts with customers, with an initial payment of 3 million shares. Additional shares will be issued based on Extraction Tech's performance, with a maximum of 4 million shares for $1 million EBITDA. The company anticipates immediate accretion and growth prospects from this transaction.

CordovaCann Corp. (CSE:CDVA)(OTCQB:LVRLF) announced the closing of a non-brokered private placement financing, issuing 6,177,718 common shares at $0.32 each for gross proceeds of $1,976,870. The financing will help fund the opening of ten new Star Buds cannabis retail stores in the U.S., aiming to generate positive cash flow. The funds will also support capital expenditures and general corporate purposes. The shares are subject to a four-month hold period, expiring on June 20, 2021.

CordovaCann Corp. has opened its fourth Star Buds Cannabis Co. retail store in Ontario, confirmed by the Alcohol and Gaming Commission. Located in Barrie, the store will begin processing online orders and is open for walk-in customers. The grand opening is on December 18-19, 2020. The company is expanding its retail presence across Canada and has seen promising revenue from its first four stores, totaling $202,634 in the last week with a 35.9% gross margin, indicating a potential annual revenue run rate of over $10.5 million.

CordovaCann Corp. has acquired a majority stake in 10062771 Manitoba Inc., allowing it to rapidly establish two recreational cannabis stores in Manitoba under the Star Buds brand. The first store opened in Winnipeg on December 2, 2020, processing online orders and walk-in customers. This acquisition is expected to enhance Cordova's presence in a market with limited cannabis retail options. The transaction included a $150,000 payment and 6 million warrants, along with a $150,000 loan for the second store's opening. The company anticipates strong revenue generation and plans for further expansion.

CordovaCann Corp. (OTCQB:LVRLF) has received a Marijuana Production License from the Oregon Liquor Control Commission for its Clackamas County facility. This license enables the company to cultivate cannabis on a 10,000 sq. ft. indoor site, which was acquired for US $1,045,000 with an additional investment of over US $1,400,000 for expansion. Cordova anticipates full cultivation by Summer 2021, leveraging established distribution networks. The company is also finalizing a 14,000 sq. ft. extraction facility to enhance its product offerings and generate revenue.

CordovaCann Corp. (CSE:CDVA) (OTCQB:LVRLF) has announced the opening of its third Star Buds Cannabis Co. retail store in Ontario, confirmed by the Alcohol and Gaming Commission of Ontario. Located at 813 Innisfil Beach Road, the store will begin processing online orders and will welcome walk-in customers. The grand opening is set for November 20-21, 2020. The company reports that its first two stores have generated $1 million in revenue this quarter with a gross margin of 35%, equating to an annual run rate of over $4 million per store.

CordovaCann Corp. has announced a non-binding letter of intent to acquire Extraction Technologies, LLC, a cannabis extraction service provider in Washington. The transaction aims to enable Cordova to manufacture cannabis products under both white label and branded options. The purchase includes 2 million common shares as upfront payment and additional shares based on the EBITDA generated by Extraction Tech, with a maximum earnout of 5 million shares. This acquisition is expected to close by December 1, 2020, enhancing Cordova's operations in Washington.