Juva Life Inc. Undergoes Court-Appointed Receivership

Juva Life Inc., a life science company involved in cannabis production and distribution, has entered court-appointed receivership as of November 7, 2024. The Superior Court of California named Kevin Singer to oversee Juva's assets amidst financial challenges. This move comes after a failed attempt to refinance debt and explore strategic alternatives.

The receiver will manage asset liquidation to address secured debts, though Juva's liabilities may surpass asset values. Consequently, Juva's Board has resolved to dissolve its U.S. and Canadian entities following asset sales, including Juva Stockton, Inc. and Juva Life, Inc. (California and British Columbia).

Despite engaging over 336 potential investors, no viable options arose. In November, both CFO Mat Lee and CEO Douglas Chloupek resigned, marking a significant period of change for Juva Life.