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CVSI - CV Sciences Inc News Story

$0.16 0.0  0.0%

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, Inc. Announces Launch of PlusCBD™ Pet Product Line

Wed 4th November, 2020 12:00pm
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SAN DIEGO, Nov. 04, 2020 (GLOBE NEWSWIRE) -- CV Sciences, Inc.
(https://www.globenewswire.com/Tracker?data=22GvBMTfDWvt4IIcG0wGRVFFkHA4fME0QyDSmekHocTdMb9SjY_fAB_aS-Azxi4lSm9DCEZ_YptJpJ4sqTeRBL4wpMxdwpGn7W-41kuGfgE=)
(OTCQB:CVSI) (the “Company”, “CV Sciences”, “our”, “us” or
“we”), a preeminent leader in hemp derived cannabidiol (CBD) products,
today announced the launch of PlusCBD™ Pet, a full line of hemp extracts
formulated exclusively for dogs and cats.

Made with the same trusted hemp extracts used in CV Sciences’ best-selling
CBD products, PlusCBD™ Pet is available in 250mg and 500mg formats with pet
friendly flavors, including beef, chicken, peanut butter and salmon, as well
as unflavored. PlusCBD™ Pet will be sold across the Company’s natural and
online retail channels, with plans to expand into the pet specialty channel
and food, drug and mass retail channel.

The U.S. Pet CBD market grew to over 10 times its 2018 size in 2019, producing
$321 million in sales, and is projected to reach $563 million by the end of
2020, according to Brightfield Group. Growth is being driven by pet owners
looking for natural alternatives for pets’ medical ailments, including
anxiety, pain, or other serious conditions that have not responded well to
other treatments, and is expected to make up a $1.7 billion market by the end
of 2025, based on Brightfield Group data.

“PlusCBD™ Pet provides us with an exciting opportunity to leverage our
brand equity and retail distribution channels to participate in the growing
pet CBD market,” said Joseph Dowling, Chief Executive Officer, CV Sciences.
“We believe the pet CBD category will continue to grow as more research
demonstrates the health benefits of CBD for dogs and cats. Our employees have
supplemented their pets with our human PlusCBD™ products for years, now we
are pleased to have an opportunity to help all pet parents love their pets
with our soothing PlusCBD™ Pet products formulated specifically for
animals.”

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 6,200 retail locations throughout the U.S. and it is the top-selling
brand of hemp-derived CBD on the 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
(https://www.globenewswire.com/Tracker?data=cw79JFEhNgfGytqVxUFAqHFZC_EKMLItQgehk5wbdd6LcUSDZ8dQR2yMTrlnHasxoma55oRRFHHbf57x9BZ3ew==).
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.

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
Scott Van Winkle
617-956-6736
scott.vanwinkle@icrinc.com

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

A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/e127ef93-5838-4e15-be0f-a3ef058ea06e

(https://www.globenewswire.com/NewsRoom/AttachmentNg/cda334c6-52de-4df0-b0a2-55a02b8a5d52)
PlusCBD™ Pet Product Line 
(https://www.globenewswire.com/NewsRoom/AttachmentNg/e127ef93-5838-4e15-be0f-a3ef058ea06e/en)
Full line of soothing hemp extracts formulated exclusively for dogs and cats


GlobeNewswire, Inc. 2020
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