CordovaCann Reports Record Performance for Star Buds Cannabis Co.

CordovaCann Corp. (CSE: CDVA / OTCQB: LVRLF) has provided an update on its Star Buds Cannabis Co. retail operations in Canada. The 11-store chain experienced significant growth in the spring and summer of 2024, with average monthly revenues reaching $1.2 million from March to August. This period saw a year-over-year revenue growth of 10.3% per store.

Ontario stores outperformed, with a 13.9% increase in average monthly revenues. Additionally, the chain's gross margin improved by 800 basis points to 26.9%. The month of August set new records for both revenues and gross profit, surpassing the previous peak from August 2022, despite operating fewer stores.

Taz Turner, Chairman and CEO, expressed confidence in the continued growth of the platform as the year progresses. The company operates through subsidiaries 2734158 Ontario Inc. and 10062771 Manitoba Ltd.