Juva Life Inc. has provided an update on its cannabis operations. Juva Life's cannabis operations consist of Cultivation, Distribution, and Retail licenses in California, currently spread across two facilities.
The Stockton Cultivation and Distribution facility is the backbone of Juva Life's three brands: Frosted Flowers, Flōs, and Secret Sauce. Frosted Flowers is set to launch a new cannabis vape category in the coming months. The custom-designed glass cartridge will feature Rosin Absolute, which is produced utilizing an FDA and EU-approved solvent for food additives. The company meticulously integrated this solvent into its extraction methods by using state-of-the-art perfuming technologies not currently employed in the cannabis industry. The benefits of this extraction method included a low-temperature, low-pressure extraction that requires no post-processing. The result is a pure cannabis extract that closely resembles the experience of consuming cannabis flower without the presence of plant matter. Flōs, the company's other cannabis flower brand, offers small, premium-grade cannabis flowers at a competitive price point, while Secret Sauce delivers high-grade cannabis concentrates at budget-friendly prices. The company has rapidly expanded the distribution of all three brands, securing placements in 110 California retail locations, capturing approximately 13% of the total California cannabis retail market (source: CalMatters).
In related news, Juva Life announced that the Stockton facility is now operating at full capacity after two years of optimization efforts. "The facility consistently surpasses industry averages, with top-performing cultivars yielding an impressive 58 to 73 grams per square foot, far exceeding the industry average of 39.5 grams per square foot (source: Cannabis Business Times). In addition, the facility's shift to almost 100% natural gas power generation has resulted in an outstanding 80% reduction in related electricity costs," the company says.
Meanwhile, Juva Life's Redwood City retail store, open for just over three months, is experiencing exceptional growth. "While many retail stores grapple with declining sales, the Redwood City store is seeing incremental growth and is currently delivering an annualized revenue of over $7 million with a gross margin of 55%."
"As we continue to reach new milestones and set industry standards, Juva Life is thrilled to announce our latest achievements in the thriving cannabis sector," said Doug Chloupek, Juva Life's CEO. "Our unwavering commitment to innovation, quality, and operational excellence has allowed us to not only meet but exceed our goals. The success of our Stockton facility operating at full capacity, the expansion of our renowned brands, and the remarkable growth of our Redwood City retail store are all testament to our dedication to delivering value to our customers and shareholders. We are proud of the strides we've made, and we remain focused on leading the way in the evolving cannabis industry."
For more information:
Juva Life
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www.juvalife.com