CordovaCann Reports Strong Start to 2024 for Star Buds Cannabis Co. Retail Operations

TORONTO, ON - CordovaCann Corp. (CSE: CDVA) (OTCQB: LVRLF), a consumer-focused cannabis company, has announced a robust start to 2024 for its Star Buds Cannabis Co. retail operations in Canada. The company's 11 retail stores have been successful in gaining significant market share and expanding their gross profit, attributed to effective cost controls, a diversified product lineup, and outstanding customer service.

The Star Buds Cannabis Co. reported monthly revenues of $1.1 million in January and February, showing strong financial performance. The stores have exhibited a year-over-year revenue growth of 14.2% in January and 12.6% in February. In particular, stores in Ontario have exceeded expectations, with monthly revenues growing by 14.6% in January and 15.7% in February. The overall gross margin for the first two months stood at 27.0%, indicating a solid financial health. With this momentum, the company expects continued success throughout March and beyond.

CordovaCann is optimistic about the future, anticipating further success due to industry consolidation, closure of competing stores, and an expanding customer base. Plans are underway to grow the Star Buds Cannabis Co. brand nationwide through organic growth and strategic acquisitions. "The Star Buds Cannabis Co. stores began 2024 just as strong as they finished 2023," said Taz Turner, CEO of Cordova, emphasizing the company's efforts to scale profitability and expand the store base in the competitive Canadian market.