Juva Life Inc. (CSE: JUVA) (OTCQB: JUVAF) (FRANKFURT: 4VV) (“Juva Life,” “Juva” or the “Company”), a life science company with pharmaceutical research and development and consumer-facing operations in cannabis production and distribution, announced today that it has closed a non-dilutive financing of $11.8 million, enabling the Company to acquire its Stockton, California, facility as well as further its clinical research on its two novel compounds.
The non-dilutive financing, which was closed on June 15, 2022, was facilitated by Pelorus Equity Group, who specialize in real estate debt financing solutions. The primary purpose of the financing was to provide capital to the Company to complete the acquisition of its Stockton cultivation facility, recently appraised at a value of over $17 million, for a purchase price of $4 million. Additionally, the Company plans to use the funds to further its clinical research development programs on novel compounds Juva-019 and Juva-041, targeting the treatment of inflammation.
“I am extremely pleased to close this round of debt financing, especially given the recent distressed capital markets and economic conditions. I believe it is a testament to the excitement around both Juva’s cannabis operations as well as our clinical research initiatives,” said Doug Chloupek, CEO and Founder of Juva. “As our cannabis operations continue to grow and generate revenue, it was imperative that we secure our real estate holdings while furthering our pharmaceutical initiatives. This financing allows us to accomplish both of these goals, while retaining significant equity in our Stockton real estate holding.
