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Benzinga
Benzinga
Business
Javier Hasse

Cannabis Co. Juva Life Secures $11.8M in Financing For Operations Expansion, Clinical Research

Juva Stockton California

Cannabis-focused pharmaceutical research and development and consumer-facing company Juva Life Inc. (CSE:JUVA) (OTCQB:JUVAF) has closed a dilutive financing of $11.8 million, enabling it to acquire its Stockton, California, facility as well as further its clinical research on its two novel compounds.

The dilutive financing, which was closed on June 15, 2022, was facilitated by Pelorus Equity Group, which specializes in real estate debt financing solutions. The primary purpose of the financing was to provide capital to complete the acquisition, appraised at a value of more than $17 million, for a purchase price of $4 million. Additionally, Juva 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.

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