CV Sciences, Inc. Achieves Industry’s First Hemp Extract GRAS Self-Affirmation
First Hemp Extract to Achieve Highly Sought-After Self-Affirmed GRAS Status Designation
LAS VEGAS, Sept. 10, 2018 (GLOBE NEWSWIRE) -- CV Sciences, Inc. (OTCQB:CVSI) (the “Company”, “CV Sciences”, “our” or “we”) preeminent supplier and manufacturer of hemp-derived phytocannabinoids including CBD oil, announced today that the Company’s hemp-derived CBD gold extract which includes all of PlusCBD Oil™ Gold Formula product line, has received self-affirmed Generally Recognized as Safe (GRAS) status in accordance with stringent U.S. Food and Drug Administration (FDA) safety guidelines. CV Sciences is the only hemp CBD nutraceutical company to invest in the scientific evidence necessary to achieve this sought-after designation, recognizing an ingredient as presumably safe among experts under the conditions of its intended use.
Joseph Dowling, Chief Executive Officer at CV Sciences, commented, “We are committed to building consumer confidence and trust in the safety and quality of our products, supported by scientific evidence. This milestone significantly advances our leadership in this space and provides us with opportunities to broaden consumer access to our products, while removing any doubts on the safety and benefits of our products. We are proud to be the first and only company to obtain GRAS self-affirmation on a hemp extract and believe this is a milestone for CV Sciences as well as the entire hemp CBD industry.”
As demand for CBD continues to increase, research has cited tremendous growth including Hemp Business Journal, an industry market research publication which projects that the CBD market will reach $2.1 billion by 2020. CV Sciences’ vertically integrated process allows for Full Traceability - From Seed to Shelf™ and ensures product quality and safety for its complete line of finished products.
About CV Sciences, Inc.
CV Sciences, Inc. (OTCQB:CVSI) operates two distinct business segments: a drug development division focused on developing and commercializing novel therapeutics utilizing synthetic CBD; and, a consumer product division focused on manufacturing, marketing and selling plant-based CBD products (PlusCBD Oil™) to a range of market sectors. CV Sciences, Inc. has primary offices and facilities in Las Vegas, Nevada and San Diego, California. Additional information is available from OTCMarkets.com or by visiting www.cvsciences.com.
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.
Released September 10, 2018