CV SCIENCES, INC. ACQUIRES ELEVATED SOFTGELS, A FLEXIBLE, LOW-MOQ, NUTRACEUTICAL MANUFACTURER
SAN DIEGO, May 13, 2024 /PRNewswire/ — CV Sciences, Inc. (OTCQB:CVSI) (the “Company”, “CV Sciences”, “our”, “us” or “we”), a preeminent consumer wellness company specializing in hemp extracts and other proven science-backed, natural ingredients and products, today announced that it has consummated its purchase of Elevated Softgels, LLC (“Elevated Softgels”), a leading manufacturer of encapsulated softgels and tinctures for the supplement and nutrition industry. Elevated Softgels has operational flexibility allowing low to large minimum order quantity (“MOQ”) production runs, allowing for efficient use of capital and the ability to increase speed to market for new product development. Elevated Softgels is GMP-certified and FDA-registered. The acquisition creates opportunity to further increase our sales to current and new clients. In addition, we intend to in-source production of certain of our key products. The acquisition was structured as an equity purchase, where the Company will operate Elevated Softgels as its wholly-owned subsidiary.