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Why CV Sciences Inc (OTCMKTS:CVSI) Shares are Surging Again

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Even though it is under fire from law firms and battling poor sentiment, CV Sciences Inc (OTCMKTS:CVSI) shares have started to surge back to the upside in recent action, crossing back above the stock’s 50-day moving average to close out last week. To help drive the story, the company recently announced that it has introduced PlusCBD Oil Gummies at the Natural Product Expo East 2018.

A look at the company’s press release from late September reveals additional details: “A new category of PlusCBD Oil products, PlusCBD Oil Gummies are offered in two tasty flavors, Cherry Mango and Citrus Punch. A line extension of our Gold Formula line with no artificial ingredients, each gummy contains 5 mg of CBD and a mere 1.5 g of sugar. Gluten free, vegan friendly, and non-GMO, these new products support healthy balance of the body and mind.”

CV Sciences Inc (OTCMKTS:CVSI) bills itself as a company that 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 to a range of market sectors.

CV Sciences, Inc. has primary offices and facilities in San Diego, California and Las Vegas, Nevada.

Moreover, CV Sciences, Inc. operates as a life science company. It operates through two segments, Specialty Pharmaceuticals and Consumer Products. The company focuses on developing and commercializing prescription drugs utilizing synthetic cannabidiol (CBD) as the active pharmaceutical ingredient. Its initial drug candidate is CVSI-007 that combines CBD and nicotine for the treatment of smokeless tobacco use and addiction.

The company also engages in the development, manufacture, marketing, and sale of consumer products containing plant-based CBD under the PlusCBD Oil name in various market sectors, including nutraceutical, beauty care, specialty foods, and vape.

CV Sciences, Inc. was founded in 2010 and is based in Las Vegas, Nevada.

CV Sciences Inc (OTCMKTS:CVSI) pulled in sales of $12.3M in its last reported quarterly financials, representing top line growth of 202.5%. In addition, the company has a strong balance sheet, with cash levels far exceeding current liabilities ($7.2M against $3M).

 

Surging Back

Shares of CVSI have powered higher over the past month, rallying roughly 52% in that time on strong overall action. Moreover, the listing has registered increased average transaction volume recently, with the past month seeing 15% beyond what we have been seeing over the larger time frame.

The action has taken the stock back above its critical 50-day moving average. The most recent press from the company, as discussed above, is its announcement that it has introduced PlusCBD Oil Gummies at the Natural Product Expo East 2018.

“We are pleased to introduce PlusCBD Oil Gummies to our existing line of industry leading hemp extract products that include balms, sprays, drops, capsules, and softgels,” stated Joseph Dowling, Chief Executive Officer of CV Sciences. “We are committed to innovation of our PlusCBD Oil products, and as the demand for CBD infused products continues to grow, it is important to expand our wide variety of products to suit all customer preferences. We foresee PlusCBD Oil Gummies being a solid revenue driving category for our Company.”

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Kushco Holdings Inc. (OTCMKTS:KSHB) Reaffirms Its F2019 Revenue Estimate Of Between $145 Million And $150 Million

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KushCo Holdings Inc. (OTCMKTS:KSHB) has reconfirmed its annual revenue guidance for the fiscal year that ended August 31, 2016, of around $145million to $150 million in sales.

Major milestones and initiatives in 2019

KushCo made significant milestones in fiscal 2019 after it launched several major initiatives. The company rebranded and changed its name to “KushCO Holdings Inc.” with its main operating subsidiary now being Kush Supply Co. It also opened new corporates headquarters in Cypress California.

The company opened a regional distribution center in Taylor Michigan and a product sourcing office in China. The company has enjoyed efficiencies and cost-cutting across its business thanks to the implementation of a new Warehouse Management System across the various warehouse locations.

In a bid to enhance its growth, KushCo joined the Sustainable Packaging Coalition and partnered with Sungrown and IEKO. This will enable it to provide combustible products to its growing consumer base. They also partnered with CA Fortune to introduce retail services to CBD and Hemp brands. KushCo also secured credit facility with Monroe Capital of around $50 million, which is the first for a cannabis company.

KushCo’s long term strategy focuses on creating more value for its customers

KushCO CEO and Chairman, Nick Kovacevich, stated that besides the significant milestones and the transformative initiatives; they have managed to equally grew their business, thus effectively positioning themselves for success. He said that KushCo’s revenue growth for the fiscal year remained strong.

The CEO indicated that the company is currently in a better position, and they are excited about it. He said that KushCO currently has the right people, customer base as well as a growth strategy to enable them to expand. Kovacevich affirmed that they are growing and executing because of the work they have put in establishing a foundation and their optimal long-term strategy, focusing on the creation of value to customers.

Cannabis businesses are partnering with KushCo because of the value they present. Kovacevich stated that they would continue doing everything to create more value for customers and remain key to their success.

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The Wait Is Over For MedMen Enterprises Inc.’s (OTCMKTS:MMNFF) Proposed Acquisition Of PharmaCann

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MedMen Enterprises Inc. (OTCMKTS:MMNFF) has announced the expiry of the waiting period concerning the proposed acquisition of PharmaCann under the HSR Act. The expiry of the waiting period under the act fulfills the condition necessary to finalize the transaction.

Acquisition to enhance MedMen’s geographical footprint

MedMen CEO and co-founder, Adam Bierman stated that this is a significant step in the cannabis industry. He said that he was optimistic that it would open the way for other companies in what is seen as a highly dynamic and acquisitive industry.

The CEO further affirmed that MedMen had created a desirable footprint which has positioned its brand among the best in the biggest cannabis market in the globe. He added that the acquisition of PharmaCann would make MedMen be even a bigger brand for consumers. With the acquisition, MedMen now doubles the number of states where it currently holds licenses. This further extends the company’s geographic footprint as well as creates a massive opportunity for MedMen shareholders. Bierman concluded by saying that they are delighted they are almost closing the transaction.

MedMen entered an agreement to acquire PharmaCann last year

The company announced in December last year that it had entered into a definitive business combination deal to acquire PharmaCann. In March this year per the HSR Act, the companies received a “Second Request” from the Antitrust Division in the Department of Justice. On August 9 PharmaCann and MedMen confirmed significant compliance with the request for additional information. The waiting period, according to the HSR Act expired on September 9, 2019. The period automatically extended for 30 days following the declaration of substantial compliance by the companies with the Second Request.

According to the terms of the transaction, PharmaCann stockholders will receive around 168.4 million shares of the combined company. This will be based on MedMen’s fully-diluted outstanding shares as of June 29, 2019. However, the total stock is subject to adjustment depending on the company’s fully-diluted outstanding stock as of the date of closing the transaction.  

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Valens Groworks Corp (OTCMKTS:VGWCF) Enters Five Year Contract With Iconic Brewing For Production Of Cannabis-Infused Beverages

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Valens GroWorks Corp (OTCMKTS:VGWCF) has announced that it has signed a binding five-year white label cannabis beverage deal with Iconic Brewing’s cannabis division. Iconic Brewing is one of Canada’s best innovative beverage companies.

Iconic Brewing to produce 2.5 million cannabis-infused beverages

The white label contract requires Valens to provide Iconic with formulation services, top quality extracts, as well as SoRSETM emulsion solution for its cannabis-infused drinks. On its part, Iconic Brewing will have the obligation of branding and marketing the final products across Canada.

According to the terms of the agreement, the company should produce at least 2.5 million cannabis-infused beverages over five years. There is an option of expanding the partnership with new product offerings soon.

Valens CEO, Tyler Robson indicated that the partnership with Iconic Brewing is a major milestone for Valens. This is because Iconic Brewing is among the fastest-growing beverage companies in eastern Canada, and therefore they will be vital in helping Valens in the creation of a new product line of cannabis-infused beverages.

Valens and Iconic Brewing seeks to leverage each other’s strength in production

Robson lauded the ability of Iconic Brewing to formulate and predict trends which he said are second to none. This is evident from the success of their current beverage products enjoy. Their offerings include Picnic Wine Co, Liberty Village, Cottage Springs Vodka Soda, and Cabana Coast. The CEO added that for Valens to service the agreement, it will employ its proprietary emulsion solution SoRSETM Technology. The technology creates oil-based ingestible products as well as beverages that offer a steady experience with quick onset and offset.

Iconic Brewing’s head of cannabis division, Cole Miller stated that they were delighted to partner with Valens to create a new product line of cannabis-infused drinks. He affirmed the company’s unwavering dedication to enhancing the safe and reliable experience for new cannabis users through their low dosage and unparalleled product education. He added that with the proprietary emulsion technology of Valen, they are ready to deliver their promise of creating the world’s best cannabis-infused beverages.

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