CordovaCann SIGNS LOI to Enter Nevada

TORONTO, Feb. 02, 2018 -- CordovaCann Corp. (OTCQB:LVRLF) (“CordovaCann” or the “Company”) is pleased to announce that it has entered into a letter of intent (the “LOI”) with a Nevada-licensed medical marijuana establishment (the “MME”) to license certain cannabis-related technology and intellectual property of the Company and to provide equipment financing, growth capital and management advisory services.

Under the terms of the LOI, the Company will license to the MME its portfolio of brands, standard operating procedures and other intellectual property for the purposes of manufacturing, packaging and distributing THC-based products in the State of Nevada. As consideration for the license, the Company would receive royalty-based revenue on a monthly basis. Furthermore, the Company and the MME are in discussions to advance the MME’s operations by providing management advisory services and ancillary equipment financing and capital for expansion plans and general working capital. It is expected that the parties will enter into definitive agreements prior to February 19, 2018 and are targeting a formal launch in the Nevada market in the second half of 2018.

“This is a significant opportunity for CordovaCann as the Nevada market provides another key state in our portfolio,” stated Mr. Taz Turner, Chief Executive Officer of the Company. He added, “We expect Nevada to be a key driver of growth for the Company given it is a more nascent market relative to other jurisdictions.”

About CordovaCann Corp.
CordovaCann Corp. (formerly LiveReel Media Corp.) is a Canadian-domiciled company focused on building a leading diversified cannabis company. CordovaCann primarily provides services and investment capital to the processing and production vertical markets of the cannabis industry.

Contact:
Taz Turner
Chief Executive Officer
T: (917) 843-2169
E: [email protected]