PhytoSPHERE Systems Increases Production by Over 1500% From 2013
LAS VEGAS, Feb. 5, 2014 (GLOBE NEWSWIRE) — CannaVest Corp. (OTC:CANV), the world’s leading cannabis-based investment company spearheading the development of cannabidiol (CBD)-rich hemp oils and other industry-related products and services, is pleased to announce that its subsidiary, PhytoSPHERE Systems, has increased its industrial hemp oil production over 1500% for the 2014 season. The company has also increased its production capabilities to concentrate these hemp oils into high value CBD-rich hemp oils, from the rate of several kilograms per batch production cycle in 2013 to over twenty tons per batch production cycle for 2014.
“With this drastic increase in our production and our refining capabilities, we will continue to be able to significantly decrease our production costs and increase our operating margins,” stated Michael Mona Jr., President and Chairman of the Board for CannaVest Corp. “The market interest in CBD-rich hemp oils has significantly increased over the past year, due in large part to the many remarkable documentaries and publicity surrounding the positive benefits of cannabis, specifically natural cannabidiol. We are at the forefront of hemp oil production today, and as the legal markets continue to expand we are one of the few companies actually able to capture and benefit from that increased demand.”
Over the past year, the Company released its flagship CBD-rich hemp oil product, Real Scientific Hemp Oil™ (RSHO™), and developed a multi-award winning prototype CBD extract called CBD Simple, which won the 2013 High Times Cannabis Cup competition in Amsterdam for Highest CBD Concentrate. This international judging event featured entries by the most prominent growers, breeders and producers of cannabis and cannabis products worldwide. CBD Simple also won the 2013 Seattle High Times Cannabis Cup and 2013 Michigan Medical Marijuana Conference “Green Cup” contests for Highest CBD Concentrate. In addition, the Company launched a line of popular everyday CBD-rich hemp oil supplements, Cibdex™, now available in drops or capsules—and the world’s first natural hair and body care line with CBD-rich hemp oil, Cibaderm™.
These products can be purchased at the following sites:
Real Scientific Hemp Oil™
“We are very pleased with the performance of our products in these competitions and look forward to a strong performance in 2014,” continued Mona Jr.
About CannaVest Corp.
CannaVest Corp. is in the business of investing and developing hemp-based businesses. CannaVest Corp. also develops, produces, markets and sells end-consumer products to the nutraceutical industry containing the hemp plant extract, cannabidiol (CBD). Additionally, the company resells—to third parties—raw product acquired by CannaVest Corp. pursuant to the company’s supply international relationships. CannaVest Corp. seeks to take advantage of an emerging worldwide trend to re-energize the production of industrial hemp and to foster its many uses for consumers. Cannabinoids (cannabidiol/CBD) are natural constituents of the hemp plant, and CBD is derived from hemp stalk and seed. Additional information is available from OTCMarkets.com or by visiting CannaVest.com.
About PhytoSPHERE Systems
PhytoSPHERE Systems is a global phytocannabinoid biotechnology company based in San Diego, California with an exclusive license for use by CannaVest Corp. (OTC:CANV). The company utilizes advanced cultivation methods and state-of-the-art processing technology leading to development of pharmaceutical, nutraceutical and food products.
PhytoSPHERE Systems, the manufacturer of the CBD-rich hemp oil used in Real Scientific Hemp Oil (RSHO), has developed special cultivars (similar to “strains”) that produce hemp that is especially rich in CBD, making it possible for PhytoSPHERE to offer all-natural products with high concentrations of hemp-based CBD. For more information, visit: PhytoSPHERESystems.com
HempMedsPX offers mainstream marketing, sales, customer service, and logistics for the cannabis industry. HempMedsPX is a corporate portfolio company of Medical Marijuana, Inc. (OTC Pink:MJNA) and the exclusive master distributor and contracted marketing company for CannaVest Corp. (OTC:CANV) and Medical Marijuana Inc. In addition to handling sales and distribution, HempMedsPX is the communication hub for the Medical Marijuana Inc. portfolio of companies.
CannaVest Corp. does not sell or distribute any products that are in violation of the United States Controlled Substances Act (US.CSA). The company does grow, sell and distribute hemp based products and is involved with federally legal distribution of medical marijuana-based products within certain international markets. We use the following names for informational purposes only, all of which refer to the legal industrial hemp plant: cannabis, canipa, kanipa, kanna, canna, kanabis, marijuana, medical marijuana, hemp, and industrial hemp.
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 and other factors, which may cause the actual results, performance or achievements of Medical Marijuana, Inc. to be materially different from the statements made herein.
FOOD AND DRUG ADMINISTRATION (FDA) DISCLOSURE
These statements have not been evaluated by the FDA and are not intended to diagnose, treat or cure any disease.
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