Cannabis and Life Sciences Company Doubles Capacity of Stockton Cultivation Facility With Completed Construction

VANCOUVER, British Columbia, March 21, 2022 (GLOBE NEWSWIRE) — 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 the completion of the final phase of construction at its 30,000-square-foot cannabis cultivation facility in Stockton, California.

“The successful completion of this expansion will effectively double the capacity of our Stockton cultivation facility,” said Doug Chloupek, CEO and Founder of Juva. “We are grateful for our hard-working teams that helped us successfully complete the expansion of this facility and we are excited to see the increase in revenue it will produce. Our focus as a company remains on the promising research on our two proprietary molecular compounds, JUVA-019 and JUVA-041, as we continue down our path to identify pharmacological compounds with potential to treat health effects such as inflammation in the human body.”

The completion of all construction doubles the number of cannabis flower cultivation rooms from three to six rooms, without increasing costs, and also maximizes the facility’s current systems. The final phase of construction cost about $2.6 million, whereas the total cost of construction for the facility was just about $12.5 million.

Juva had nine successful harvests in 2021 and the team is on schedule to have 33 planned harvests in 2022 with an average yield of 1.5 pounds per light, with a target of 2-2.5 pounds per light. There are currently 588 lights in the flower rooms and 196 in the vegetative room.

Additionally, the Company will be hosting a live Zoom webinar on March 23rd at 4pm ET, which will showcase the construction updates and advancements of Juva, and provide an update on its cannabis and pharmaceutical operations. Those interested in viewing the webinar can join live, or watch the recording on the Juva website shortly after it airs.

To register to attend the webinar, please visit: https://us02web.zoom.us/webinar/register/WN_rDchFYF1QI6FovTi4uwOdw

ON BEHALF OF THE BOARD,

-Doug Chloupek-

Doug Chloupek, CEO and Founder

Juva Life Inc.

[email protected]

About Juva Life Inc. (CSE: JUVA) (OTCQB: JUVAF) (FRA: 4VV)

Juva Life is employing state-of-the-art science to discover, develop and commercialize safe and effective wellness and pharmaceutical products, in both the cannabis consumer segment as well as the non-cannabinoid based medical industry. The Company is successfully executing against its 2018 roadmap, initially starting with standardization of cultivation, extraction, and formulation to offer consumers reproducible benefits. Juva is building upon these natural product process chemistry skills, to now include discovery pharmacology. The Company will leverage revenue derived from its retail operations to advance its consumer and clinical development efforts of Juva-019 and Juva-041, as well as other potentially valuable non-cannabinoid bioactives with significant consumer and pharma products applications. Juva is working to bring the Cannabis market face to face with the sector’s next generation investment grade business model. Find out more at: https://juvalife.com/.

For further information, please contact:

Juva Life Investor Relations

Tel: +1 833-333-5882 (JUVA)

Email: [email protected]

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; product development, commercialization strategy and future collaborations.

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, 2020 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.

The CSE does not accept responsibility for the adequacy or accuracy of this release.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

Agreement includes an estimated $11 million in production-based fees and consulting services over a 10-year period, and an option on phase 2 expansion for up to an additional $37 million

BURLINGTON, Mass., May 13, 2021 (GLOBE NEWSWIRE) — Agrify Corporation (NasdaqCM:AGFY) (“Agrify” or the “Company”), a developer of highly advanced and proprietary precision hardware and software cultivation solutions for the indoor agriculture marketplace, today announced it entered into a definitive agreement with its existing customer Greenstone Holdings, LLC (“Greenstone”), a licensed operator in the state of Colorado, to complete the construction of a 25,000 square foot expansion of Greenstone’s Denver facility, significantly increasing the facility’s cultivation footprint.

Under the terms of the agreement, Agrify will provide up to $2.5 million in construction loans at 18% APR, to be repaid over a 24-month period following commencement of operations. Construction is expected to begin in the second quarter of 2021 with the completed facility expected to be fully operational by the fourth quarter of 2021. In addition to the construction, Agrify will receive recurring fees over a 10-year period of up to $11 million to support the successful launch of Greenstone’s operations. Under the agreement, Agrify may also extend additional construction financing, which would be used to convert Greenstone’s existing traditional indoor grow facility with the addition of 200-220 VFUs and would provide Agrify the opportunity to earn an additional estimated $37 million in production-based fees and consulting services. As part of the deal, Agrify agrees to retire Greenstone’s current lease agreement with CCI-Finance, LLC, at 50% of the original face value of $1.4 million, or $700,000. The initial closing of the transactions contemplated by the agreement is expected to occur by May 30, 2021 and is subject to standard closing conditions.

“We are delighted to announce this next phase in our relationship with Greenstone, and we are excited to have been brought in to complete the construction of their cultivation facility,” said Raymond Chang, Chief Executive Officer of Agrify. “We look forward to continuing our work together over the next 10 years as we assist them in optimizing production so they are able to provide the Colorado market with the type of consistently high-quality products that consumers demand.”

“Today’s announcement represents a critical step in the completion of our Denver facility,” said Gary Walker, General Manager of Greenstone Holdings, LLC. “With Agrify’s assistance, we expect to be able to get our expanded facility online by the end of Q4, 2021. We are excited to continue our journey with Agrify to further improve consistency and enhance the quality of our products for our customers, and we look forward to broadening our successful relationship with Agrify as we enter our next phase of company growth.”

About Agrify (NasdaqCM:AGFY)

We are a developer of premium grow solutions for the indoor agriculture marketplace. We use data, science, and technology to empower our customers to be more efficient, more productive, and more intelligent about how they run their businesses. Our highly advanced and proprietary hardware and software solutions have been designed to help our customers achieve the highest quality, consistency, and yield, all at the lowest possible cost. For more information, please visit our website at www.agrify.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, concerning Agrify and other matters. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding our customer relationship with Greenstone, project timelines, and ability to deliver solutions and services. In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “targets,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or the negative of these terms or other similar expressions. The forward-looking statements in this press release are only predictions. We have based these forward-looking statements largely on our current expectations and projections about future events as well as the terms and conditions that were mutually agreed upon in the underlying definitive agreement between Agrify and Greenstone Holdings, LLC. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. You should carefully consider the risks and uncertainties that affect our business, including those described in our filings with the Securities and Exchange Commission (“SEC”), including under the caption “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2020 filed with the SEC, which can be obtained on the SEC website at www.sec.gov. These forward-looking statements speak only as of the date of this communication. Except as required by applicable law, we do not plan to publicly update or revise any forward-looking statements, whether as a result of any new information, future events or otherwise. You are advised, however, to consult any further disclosures we make on related subjects in our public announcements and filings with the SEC.

Company Contacts:

Agrify
Niv Krikov
Chief Financial Officer
[email protected]
(617) 896-5240

Investor Relations
Rob Kelly
[email protected]
(416) 992-4539

Media Contact
Renee Cotsis
[email protected]

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.