VANCOUVER, British Columbia, Dec. 22, 2020 (GLOBE NEWSWIRE) -- Juva Life Inc. (CSE: JUVA) (OTC: JUVAF) (FRANKFURT: 4VV) (“Juva Life,” “Juva” or the “Company”), a premier California based multi-faceted life sciences company focused on the commercialization of Cannabis products and advanced formulations is pleased to provide an update regarding activities at its Hayward, California facility build-out.
Originally constructed and partially funded by federal research grants, Juva Life’s Hayward project started life as biotechnology cancer research facility focused on the development of plant-based antibodies and the study of protein expression in tobacco plants. As such, the structures on the property includes 18,000 sq. ft. of preexisting purpose-built concrete structures adjoining 11,000 sq. ft. of dedicated greenhouse canopy.
As part of the legacy infrastructure and a key feature in Juva’s future ambitions, the main building includes an ISO Class 5 cleanroom ideally suited to propel Juva’s science of cannabis strategy towards the development of advanced formulations and products. The cleanroom and adjoining laboratory spaces include plans for the installation of liquid and gas chromatography plus mass spectrometry equipment. Class 5 is considered at the more critical end of the class spectrum, requiring a greater level of filtration to achieve a level of cleanliness by typically employing Ultra Low Penetration Air (ULPA) Filtration targeting 99.9995% efficiency at 0.12 micron. This research facility is scheduled to be one of the first operational elements of the Hayward campus.
A Conditional Use Permit (CUP) was approved on October 22nd upon completion of an extremely rigorous and thorough application process. The application included many details typically included in building permit applications and, as such, it is believed may expedite additional permitting. Upon approval, immediate actions require the installation of physical perimeter security and modernized fire suppression systems. Upon installation, the Company will apply for partial occupancy to enable the outfitting of the laboratory and related processing areas in order to initiate extraction and formulation operations which are anticipated to scale to full production by mid-2021.
Upon completion of the proposed renovations, greenhouse cultivation is conditionally approved for 13,453 sq. ft. within a fully modernized facility. An internal assessment suggests that material yields of up to 4,600 pounds of total biomass inclusive of 3,600 pounds of flower could be harvested in the first full year of activity. Advanced agronomic practices within the controlled environment are anticipated to produce quantifiably premium quality and potency. The Hayward facility will ultimately total 38,000 sq. ft. in size with a manufacturing focus on advanced industrial scale extraction processes utilizing most of the internally harvested material for use in novel formulations, product development, and material supply for Juva’s related divisional activities.
Related activities planned for the Hayward campus include business to consumer (B2C) retail delivery operations offering Juva-produced and 3rd party products throughout the Eastern San Francisco Bay area. Acting as a distribution center, Juva would have the ability to ship bulk or processed product to other licensed cannabis businesses (including other current or future Juva facilities). In addition, the Company has been conditionally approved to develop a boutique flagship retail operation focused on Juva products in a designer-styled environment.
Juva’s CEO and Founder, Doug Chloupek states, “We were extremely fortunate to discover the Hayward location early in our planning phase. The previous occupants’ operations provide us with a pre-built facility that closely matches our strategic aims and consequently expedites our ability to advance operations. I’m particularly excited that it appears our lab could be functional early to mid 2021, as the development of a broad spectrum of product formulations through applied science is a fundamental aspect of how we aim to build corporate and shareholder value.”
For those new to the Juva story, please visit our website at www.juvalife.com.
ON BEHALF OF THE BOARD,
-Doug Chloupek-
Doug Chloupek, CEO & Founder
Juva Life Inc.
inquiries@juvalife.com
About Juva Life Inc. (CSE: JUVA) (OTC: JUVAF) (FRA: 4VV)
Juva Life is working to bring the cannabis market face to face with the sector’s next generation investment grade business model. From in-house research, cultivation, manufacturing, retail, and delivery services, Juva employs state of the art tools in discovery, development, and data science to identify new molecular profiles for major unmet medical needs. Our initial focus is on cannabis, where we are deploying our platform to target consumer and pharma applications. Find out more at: https://juvalife.com/.
For further information, please contact:
Juva Life Investor Relations
Tel: +1 833-333-5882 (JUVA)
Email: inquiries@juvalife.com
Forward Looking Statement
This news release contains statements and information that, to the extent that they are not historical fact, may constitute “forward-looking information” within the meaning of applicable securities legislation. Forward-looking information may include financial and other projections, as well as statements regarding future plans, objectives, or economic performance, or the assumption underlying any of the foregoing. In some cases, forward-looking statements can be identified by terms such as “may”, “would”, “could”, “will”, “likely”, “except”, “anticipate”, “believe”, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook”, or the negative thereof or other similar expressions concerning matters that are not historical facts. Examples of such statements include, but are not limited to, statements with respect to the objectives and business plans of the Company; ability to realize benefits from its recent corporate appointments; ability to retain its key personnel; the intention to grow the Company’s business and operations; the competitive conditions of the industries in which the Company operates; and laws and any amendments thereto applicable to the Company.
Forward-looking information is based on the assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. The material factors and assumptions used to develop the forward-looking information contained in this news release include, but are not limited to, key personnel and qualified employees continuing their involvement with the Company; and the Company’s ability to secure financing on reasonable terms.
Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information, including, without limitation, risks relating to the future business plans of the Company; risks that the Company will not be able to retain its key personnel; risks that the Company will not be able to secure financing on reasonable terms or at all, as well as all of the other risks as described in the Company’s management discussion and analysis for year ended December 31, 2019 under the heading “Risks and Uncertainties”. Accordingly, readers should not place undue reliance on any such forward-looking information. Further, any forward-looking information speaks only as of the date on which such statement is made. New factors emerge from time to time, and it is not possible for the Company’s management to predict all of such factors and to assess in advance the impact of each such factor on the Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking information. The Company does not undertake any obligation to update any forward-looking information to reflect information or events after the date on which it is made or to reflect the occurrence of unanticipated events, except as required by law, including securities laws.
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