CV Sciences, Inc. Announces New Distribution With Kroger and Expands Its Offering of Topical Products
June 12 2019 - 12:00PM
CV Sciences, Inc. (OTCQB:CVSI) (the “Company”, “CV Sciences”,
“our”, “us” or “we”), a preeminent supplier and manufacturer of
hemp CBD products, is pleased to announce further expansion of its
industry-dominating PlusCBD™ Oil brand with The Kroger Co.
(NYSE:KR).
The Company’s expanded retail distribution
includes the launch of CV Sciences’ new PlusCBD Oil™ Roll-Ons in
945 Kroger stores across many of its retail banners, including
Kroger, Dillons, Fry’s, Fred Meyer, King Sooper, Mariano’s, Pick ‘n
Save, QFC and Smiths locations in 17 U.S. states. PlusCBD™
Oil Roll-On, available in 200mg CBD and Extra Strength 500mg
formulations, is infused with concentrated CBD from agricultural
hemp plant parts, warming camphor and cooling menthol. Made with
its Gold Formula concentrated full spectrum hemp extract, the
Roll-Ons offer high intensity support in an easy-to-use
application. The Company’s best-selling PlusCBD™ Oil Extra Strength
and Original Balms are also available at the participating Kroger
locations. To meet consumer expectations of clean
ingredients, all PlusCBD™ Oil topical products contain no
phthalates, sulfates or parabens and are made without artificial
dyes or scents.
As discussed on the Company’s first quarter 2019
earnings call on May 8, 2019, CV Sciences’ recent distribution
gains include availability of PlusCBD™ Oil Extra Strength Balm in
an initial launch at CVS Pharmacy stores. With the addition
of 945 Kroger locations and new distribution into other
leading Food, Drug and Mass (FDM) retailers, as of June 12, 2019,
PlusCBD™ Oil branded products are available in 4,591 retail stores,
up from 3,308 retail stores as of March 31, 2019, an increase of
38.7% over the prior two months.
“We are delighted to partner with Kroger and
launch our new Roll-On topical as we continue our rapid expansion
into the FDM channel,” said Joseph Dowling, Chief Executive
Officer. “Kroger, CVS Pharmacy, and other leading national
retailers are keenly aware of the increased consumer demand for
hemp-based CBD products and they are partnering with CV Sciences
because of our unwavering commitment to safety and quality. We are
at the beginning of what we believe will be broad acceptance of CBD
products across national FDM accounts and we look forward to our
continued growth as we expand store count and SKUs with our retail
partners.”
PlusCBD™ Oil Extra Strength Balm ranks #1 in
sales in both the Total U.S. Natural Channel and Total U.S. MULO
(Multi Outlet) over the last 52 weeks* among CBD products within
Topical Analgesics, according to SPINS and IRI data, respectively.
Brightfield Group, a leading predictive analytics and market
research firm for the CBD market, expects $1.3 billion in sales of
CBD topicals in 2019, with a compound annual growth rate of 169%
from 2018 – 2022.
About CV Sciences, Inc.
CV Sciences, Inc. (OTCQB:CVSI) operates two
distinct business segments: a consumer product division focused on
manufacturing, marketing and selling plant-based CBD products to a
range of market sectors; and a drug development division focused on
developing and commercializing CBD-based novel therapeutics
utilizing CBD. The Company’s PlusCBD™ Oil 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, Inc. has primary
offices and facilities in San Diego, California and Las Vegas,
Nevada. 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
617-956-6736scott.vanwinkle@icrinc.com
Media Contact: ICR Cory Ziskind
646-277-1232cory.ziskind@icrinc.com
*SPINS and IRI MULO scan data, 13 quad weeks ending April 21,
2019
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