Juva Life Inc. (OTCQB:JUVAF) (CSE:JUVA) (FRANKFURT:4VV) announced today that its subsidiary, Juva Retail RWC Inc, was granted a license to operate a retail cannabis storefront in Redwood City, California, at 2301 Broadway.
Why It Matters?
Redwood City has a four-phase cannabis program that was developed hand in hand with community support following the state's legalization of adult-use cannabis sales in 2016.
Phase I ensured the applications were complete, Phase II involved critical evaluation and scoring, Phase III involved interviews and further scoring, and Phase IV was the final City Manager Selection of chosen businesses.
The process included a rigorous, staff-led, merit-based application to ensure high-quality retail cannabis business operators would be thoroughly reviewed and sufficiently qualified before receiving a permit.
All applications for cannabis storefront retail were required to provide relevant information, including neighborhood compatibility, security and safety plans, and community benefits plans.
Juva Retail RWC Inc. was the highest-scoring applicant overall, being awarded a total of 1,876 points in Phase III, which, when combined with the Company's Phase II score of 1,196 points, equals 3,072 points for a total score of 96%.
Juva Life continues its focus on pharmaceutical and life sciences research, and is working to identify the mode of action behind cannabis' anecdotal ability to control pain and inflammation.
JUVA-019 and JUVA-041, which the Company has nominated as lead drug candidates for further preclinical investigation, are currently advancing through phenotypic models of chronic diseases of aging.