Welcome to our dedicated page for Cordovacann news (Ticker: LVRLF), a resource for investors and traders seeking the latest updates and insights on Cordovacann stock.
CordovaCann Corp. (OTCQB: LVRLF) is a Canadian-domiciled, cannabis-focused consumer products company whose public news flow is heavily centered on the performance of its Star Buds Cannabis Co. retail platform in Canada. Company updates frequently highlight the results of its 11 Star Buds Cannabis Co. stores, including reported trends in monthly revenues, year-over-year growth, and gross margin levels across the chain and in specific provinces such as Ontario.
Investors and observers following LVRLF news can expect regular disclosures on how the Star Buds Cannabis Co. stores are performing in what the company describes as a challenging environment for retail cannabis. These updates often discuss market share gains, store-level profitability, and the impact of cost controls, product assortment, and customer service on the chain’s results. Management commentary commonly addresses the efficiency of the current store portfolio and the role of store closures or optimization in improving overall cash flow.
CordovaCann’s news releases also provide insight into its strategic decisions and geographic focus. For example, the company has reported a decision to wind down operations in Oregon and Washington and to divest assets in those states, while indicating that it plans to have limited cannabis exposure in the United States in the near term. Earlier communications describe a non-binding letter of intent with Jackson BevCo, Inc. for a managed services agreement related to cannabis retail stores within or beside Jacksons convenience stores in certain western U.S. states.
By reviewing the LVRLF news feed, readers can track how CordovaCann presents the performance of Star Buds Cannabis Co., its adjustments to its U.S. footprint, and its ongoing emphasis on the Canadian retail cannabis market. This context can help users understand how the company describes its operations, strategic priorities, and the factors it identifies as influencing its business over time.
CordovaCann Corp. reported that its Star Buds retail chain achieved over $1 million in revenues for April 2021, with a gross margin of 30%. This marks a significant monthly performance, eclipsing previous records and resulting in a projected annual revenue run rate of $12.5 million. The company is advancing six additional stores toward licensing, expecting to expand to a total of 16 stores across Canada within six months. Management anticipates improved revenues and profitability as pandemic restrictions ease and summer sales strengthen.
CordovaCann Corp. announced a letter of intent to acquire 51% of WoW Industries to enhance its production capacity and product lineup in Washington. The transaction involves the purchase of cultivation and manufacturing equipment and associated contracts for a total consideration of 777,500 common shares and $60,000 USD. This acquisition aims to capture the growing demand for the LuvIT and Altus product lines, with plans to expand operations significantly by June 1, 2021. Approval from the Washington State Liquor and Cannabis Board is pending.
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.