Division and Facilities Progress

As mentioned in our last update, our Redwood City delivery service was deemed ‘essential’ under the California Governor’s stay-at-home executive order. Since commencing operations, Juva Delivery has seen double-digit growth week-over-week and will be expanding to service eleven additional cities on the Peninsula during Q3 2020. In late June, Juva was the first cannabis business to present to the members of the San Mateo County/Silicon Valley Convention and Visitors Bureau as well as regional elected officials. It marked the Visitors Bureau’s first foray into ‘Cannabis + Tourism’ and was well-received.

Juva Life’s state-of-the-art facility in Stockton, CA is in its final stages of construction. The offices are near completion and upon being issued a certificate of occupancy by the City, Juva Delivery will commence services within the Stockton area. The Company has been granted the necessary delivery licenses by the city of Stockton and the State of California. We anticipate commencing operations in September 2020.

One of Juva Life’s cultivation rooms in Stockton, California

The Stockton facility has also been designed to house seven cultivation rooms which will come online in phases. The first two rooms are expected to complete construction and receive their final inspections in late Q3 2020. Juva is expecting to commence cultivation during Q4 of 2020 and realize its initial harvests in Q1 of 2021. The initial two rooms alone have the capacity to produce 200 pounds of cannabis approximately every 32 days. Juva is also currently in discussions with major customers to contract the sale of our initial harvests.

Public Listing

Our preliminary prospectus has been filed with the British Columbia Securities Commission (“BCSC”). We are currently in the comments phase and hope to have formal approval in the coming weeks to commence trading on the Canadian Securities Exchange (“CSE”). Juva has also concurrently filed for a direct listing for the US markets. Once complete, this direct listing will allow Juva to trade directly on the OTC market in the US as well.

While our internal team has remained focused on completing the necessary steps towards our public listing, our initial timeline was delayed as COVID-19 slowed the response from regulatory agencies.

During the COVID-19 shutdown, our Transfer Agent was unable to send out any DRS statements. However, that service has recently been reinstated and the last of the statements are currently being delivered. These statements detail your investment in Juva Life and will allow your broker to electronically trade your Juva Life stock once our listing is approved.

As we grow, we continue to reevaluate our strategic directives to ensure that they align with our vision and mission. We invite you to watch Juva Life’s CEO, Doug Chloupek, in this video when he sat down with Jim Gordon for CEO Candid. In the video, Doug explains Juva Life’s vertical integration as well as its dedication to the scientific study of cannabis as a therapeutic. Also in the press was our COO, Neil Ruditsky, who contributed to Silicon Valley Magazine’s Hope issue alongside of Governor Gavin Newsom, Ralph Lauren, and other business luminaries; Neil addressed the importance of cannabis being deemed essential in relation to COVID-19. You can read the full story here.

We are extremely excited to see our efforts yielding results. We continue to build the business and strive to deliver long-term growth and shareholder value. We appreciate your patience and continued support of our vision.