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CVSI - CV Sciences Inc News Story

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Last Trade - 02/12/21

Sector
Healthcare
Size
Micro Cap
Market Cap £13.5m
Enterprise Value £13.9m
Revenue £15.6m
Position in Universe 6623rd / 7292

CV Sciences and Alkemist Labs Form Partnership to Support the National Institute of Standards and Technology’s Cannabis Quality Assurance Program

Tue 13th April, 2021 1:30pm
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SAN DIEGO, April 13, 2021 (GLOBE NEWSWIRE) -- CV Sciences, Inc.
(https://www.globenewswire.com/Tracker?data=4n4s04_AwLV82us0lDJigltKlvePlhSRAwHGwCdr3Z1jYXULkMnLMiL3ACwhCavFD9Ar3aujZLRBG11WTHTJFrwFfXYXeiIauWx6TEe1zXQ=)
(OTCQB:CVSI) (the “Company”, “CV Sciences”, “our”, “us” or
“we”), a preeminent leader in hemp derived cannabidiol (CBD) products,
today announced an ongoing partnership with Alkemist Labs, an established
leader in botanical plant testing, to collaborate with the National Institute
of Standards and Technology (“NIST”) on efforts to help cannabis testing
labs demonstrate and improve measurement capabilities and comparability. The
tools developed by this NIST cannabis program will support measurements
establishing legal, commerce, and safety claims through the development of
fit-for-purpose analytical methodologies, production of Reference Materials,
and implementation of NIST’s Cannabis Quality Assurance Program
(“CannaQAP”).

As part of this collaboration, CV Sciences will prepare and provide hemp oil
samples that NIST will distribute to laboratories that participate in
CannaQAP. In addition, Alkemist Labs will provide initial measurements of
cannabinoid levels in those samples.

Currently, marijuana and THC remain on the controlled substances list,
although medical marijuana is legal in 33 states and recreational marijuana is
legal in 11 states as well as the District of Columbia. The 2018 Farm Bill
defined hemp as cannabis containing not more than 0.3% THC and removed hemp
from the controlled substances list. These legal changes have required
laboratories throughout the United States to implement quantitative analytical
methods to distinguish cannabis raw material and finished products as
marijuana or hemp.

“As one of the first accredited cannabis testing labs in California,
Alkemist Labs has a long history as a strong advocate for rigorous laboratory
standards for cannabis products,” said Alkemist Labs CEO Elan Sudberg.
“We’re very pleased to be partnering with CV Sciences and NIST on this
important effort to ensure that labs have the fit-for-purpose test methods
they need to support high quality standards of cannabis products.”

CannaQAP will improve the accuracy and capability of cannabis product testing,
which supports industry transparency and protects consumers. The CannaQAP will
benefit forensic laboratories that are developing analytical methods to
distinguish hemp from marijuana through quantitative measurements or screening
thresholds; quality control laboratories testing cannabis products for
strength and composition; regulatory laboratories testing for product
compliance; and researchers conducting clinical trials on the safety and
benefits of cannabis products.

“As the most trusted hemp-derived CBD company, CV Sciences was honored to be
invited to partner with Alkemist Labs to assist NIST in its efforts to improve
cannabis testing throughout the industry,” said Dr. Douglas Mackay, N.D.,
Senior Vice President of Scientific and Regulatory Affairs for CV Sciences.
“We are dedicated to moving the CBD industry forward through science and
advancing NIST’s CannaQAP program will play a pivotal role in helping the
industry improve the scientific rigor and reproducibility between Cannabis
testing labs.”

A full description of CannaQAP can be found here:
https://www.nist.gov/programs-projects/nist-tools-cannabis-laboratory-quality-assurance.

About CV Sciences, Inc.

CV, or Curriculum Vitae, is Latin for "course of life", and science is the
pursuit of truth. CV Sciences: our name is our mission -improving quality of
life through nature and science.

CV Sciences, Inc. (OTCQB:CVSI) operates two distinct business segments: a
consumer product division focused on manufacturing, marketing and selling
plant-based dietary supplements and CBD products to a range of market sectors;
and a drug development division focused on developing and commercializing
CBD-based novel therapeutics. The Company’s PlusCBD™ products are sold at
more than 7,300 retail locations throughout the U.S. and it is the top-selling
brand of hemp-derived CBD in the natural products market, according to SPINS,
the leading provider of syndicated data and insights for the natural, organic
and specialty products industry. CV Sciences follows all guidelines for Good
Manufacturing Practices (GMP) and the Company’s products are processed,
produced, and tested throughout the manufacturing process to confirm strict
compliance with company standards and specifications. With a commitment to
science, PlusCBD™ product benefits in healthy people are supported by human
clinical research data, in addition to three published clinical case studies
available on PubMed.gov. PlusCBD™ was the first hemp CBD supplement brand to
invest in the scientific evidence necessary to receive self-affirmed Generally
Recognized as Safe (GRAS) status. CV Sciences, Inc. has primary offices and
facilities in San Diego, California. Additional information is available from
OTCMarkets.com or by visiting www.cvsciences.com.

About Alkemist Labs

Alkemist Labs is an ISO 17025 accredited contract testing laboratory
specializing in plant authentication, botanical ingredient identification and
quantitative analytical services to the Food & Beverage, Nutraceutical and
Cosmeceutical industries. Located in a state-of-the-art facility in Garden
Grove, California, Alkemist Labs offers clients a wide range of specialty
research services to evaluate the identity, purity and quality of botanical
raw materials, dietary ingredients and finished products. DEA registered 1, 2,
3n, and 4 for over 20 years, Alkemist is also approved to be on California
Department of Food and Agriculture (CDFA) list for hemp testing. Alkemist Labs
produces a complete line of Composite Reference Botanicals (CRBs), critical
tools for botanical identity verification. Since it was founded in 1997,
Alkemist Labs has become the ideal “Partner for Quality” to companies
interested in producing high quality natural products requiring independent,
third-party analysis, Stability/Shelf-life studies, Certification of Analysis
and cGMP compliance. alkemist.com
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FORWARD-LOOKING DISCLAIMER

This press release may contain certain forward-looking statements and
information, as defined within the meaning of Section 27A of the Securities
Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is
subject to the Safe Harbor created by those sections. This material contains
statements about expected future events and/or financial results that are
forward-looking in nature and subject to risks and uncertainties. Such
forward-looking statements by definition involve risks, uncertainties.

CONTACT INFORMATION:

Investor Contact:
ICR
Reed Anderson
646-277-1260
CVSciences@icrinc.com

Media Contact:
ICR
Cory Ziskind
646-277-1232
cory.ziskind@icrinc.com

Alkemist Labs Media Contact:
Suzanne Shelton
847-922-5454
Suzanne@SheltonGroupPR.com

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GlobeNewswire, Inc. 2021
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