NEWPORT BEACH, California, June 21, 2022 (GLOBE NEWSWIRE) – Pelorus Equity Group (“Pelorus”), the leading provider of commercial real estate loans for the cannabis industry, announced that it has closed $ 11.8 million in financing with Juva Life Inc. (“Juva Life”, “Juva” or “the company”), a life sciences company with pharmaceutical research and development and consumer-oriented operations in the production and distribution of cannabis.
The main purpose of the financing, which closed on June 15, 2022, is to finance the exercise of the tenant purchase option at its recently completed Stockton farming facility, as well as to provide working capital and R&D funding. The installation was recently completed at a cost of $ 17 million. Juva also plans to use part of the funds to boost its clinical research development programs on Juva-019 and Juva-041, new compounds aimed at treating inflammation.
“We are excited to fund Juva to acquire its facilities in Stockton, California,” he said. Dan Leimel, CEO of the Pelorus Equity Group and Manager of the Pelorus Fund. “In addition to advancing Juva’s research into its two compounds, this compelling transaction will support Juva’s development of cannabis-derived products that offer evidence-based therapeutics for the treatment of many difficult health conditions. As we continue to expand our assets under management, we look forward to continuing to provide the leaders in the cannabis ecosystem with flexible capital market solutions that meet the complex agreement structures of large, medium and small operators. “
“I am very pleased to close this round of debt financing, especially given the recent troubled capital markets and economic conditions,” said Juva CEO and founder Doug Chloupek. “I think it’s a testament to the excitement surrounding Juva’s cannabis operations, as well as our clinical research initiatives. As our cannabis operations continue to grow and generate revenue, it was imperative to secure our This funding allows us to achieve both of these goals while maintaining significant assets in our Stockton real estate assets. our downtown Redwood City retail store that, once completed, will create a new source of revenue for Juva.
Managing partner of Pelorus Equity Group Travis Goad He added: “As the cannabis industry expands, we continue to see significant demand for commercial real estate financing. Over the past year, we have done launched numerous innovative loan solutions for complex transactions, and next year we look forward to offering our cannabis customers more innovative loan solutions and loan programs that allow them to strategically scale their operations and achieve their business goals and objectives. “
Funding is secured by the assets of Juva and its subsidiaries, including real estate held in Stockton. It also includes the issuance of 2,500,000 warrants, each convertible into a common share of the Company, which may be exercised at CAD $ 0.18 per share for a period of three years after the maturity of the loan. The loan has a variable interest rate of 11.5% plus 1M SOFR (sofr SOFR of 1.5%) during the 36-month financing period.
To date, Pelorus has completed 68 commercial real estate loan transactions and deployed $ 429 million to cannabis companies and homeowners, including 3.25 million square feet in eight U.S. states. With the ability to approve construction draws to repay borrowers on an average of one. -in three days – and through a single agreement covering the financing of the whole project – the Pelorus Fund helps to stabilize the cash flow of customers so that they can stay focused on their core business. For more information, visit https://pelorusequitygroup.com/.
About Pelorus Equity Group
Pelorus Equity Group (“Pelorus”), the leading provider of commercial real estate loans to cannabis companies and owners of cannabis-related real estate, and its Pelorus Fund, a private mortgage real estate investment trust (“mREIT”), are changing commercial real estate. panorama of the loan to the cannabis sector.
Pelorus background offers a range of innovative transactional solutions to meet the diverse needs of real estate investors and portfolio managers, and its flexible bridge acquisition and lending programs are the direct result of the company’s involvement in more than 5,000 size transactions. and different complexity.
Since 1991, Pelorus executives have quickly understood an opportunity, structured a logical solution and executed a timely closure, and have been involved in more than $ 5 million in real estate investment transactions using debt and equity solutions. To date, Pelorus has completed 68 commercial real estate lending transactions and deployed more than $ 429 million to cannabis companies and real estate owners, including more than 3,250,000 square feet in eight U.S. states.
With the possibility of financing construction draws approved for repayment in an average of one to three days and a single agreement covering the financing of the entire project, the Pelorus Fund helps to stabilize the cash flow of its customers, from so that they can stay focused on their main business goals and objectives. For more information, visit https://pelorusequitygroup.com/.
About Juva Life Inc. (CSE: JUVA) (OTCQB: JUVAF) (FRA: 4VV)
Juva Life uses state-of-the-art science to discover, develop and market safe and effective pharmaceuticals and wellness products, both in the cannabis consumer segment and in the non-cannabinoid-based medical industry. The company is successfully implementing its 2018 roadmap, initially starting with the standardization of cultivation, extraction and formulation to provide consumers with reproducible benefits. Juva is building on these natural product process chemistry skills, to now include discovery pharmacology. The company will leverage the revenue from its retail operations to advance its clinical development and consumption efforts for Juva-019 and Juva-041, as well as other potentially valuable non-cannabinoid bioactives with important consumer and pharmaceutical applications. . Juva is working to bring the cannabis market face to face with the industry’s next-generation investment grade business model. More information at: https://juvalife.com/.
For more information, please contact:
Pelorus Equity Borrower / Broker Queries:
Pelorus Fund Consult:
Pelorus Equity Group Media Contact:
Juva Life Investor Relations Contact:
+ 1-833-333-5882 (JUVA)