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2018-08-23T17:16:40+00:00 Aug. 1, 2018 9:25AM EST|

Venture Market News for August 1, 2018

  • CV Sciences, Inc. Reports Second Quarter 2018 Financial ResultsPress Release | 08/01/2018

    Growth and Profitability Driven by Key Financial Performance Metrics, including Record GAAP Net Income of $3.2 Million

    Management to Host Second Quarter 2018 Financial Results Conference Call on August 1, 2018 at 4:15pm ET

LAS VEGAS, Aug. 01, 2018 (GLOBE NEWSWIRE) -- CV Sciences, Inc. (OTCQB:CVSI) (the “Company”, “CV Sciences”, “our” or “we”) announced today its financial results for the second quarter ended June 30, 2018.

Second Quarter 2018 Financial and Operating Highlights

    Record Sales of $12,349,000, an increase of 203% compared to Q2 2017

    Record Gross Profit of $9,060,000, an increase of 219% compared to Q2 2017

    Record GAAP Net Income of $3,186,000, an improvement of $4,178,000 compared to Q2 2017

    Record Adjusted EBITDA $3,806,000, an improvement of $4,087,000 compared to Q2 2017

    Increased Retail Channel Distribution to 1,968 Stores as of June 30, 2018, an 11% sequential increase over the Company’s retail store count for the first quarter of 2018

    Continued Progress in Drug Development Division including preclinical progress with CVSI-007, the Company’s patent-pending synthetic-based cannabidiol, which will be co-administered with nicotine to provide treatment options for smokeless tobacco use and addiction, currently a multibillion-dollar market with no currently FDA-approved drugs available to help patients.

  • Medical Marijuana, Inc. Portfolio Company Kannalife Sciences Finalizes Share Exchange Agreement with TYG Solutions

SAN DIEGO, Aug. 1, 2018 /PRNewswire/ -- Medical Marijuana, Inc. (OTC: MJNA), the first-ever publicly traded cannabis company in the United States, announced today that its portfolio company Kannalife Sciences, Inc. ("Kannalife"), a bio-pharmaceutical and phyto-medical company, has completed a share exchange offer with TYG Solutions Corp. (OTC: TYYG). The closing of this transaction marks an important step in making Kannalife the only publicly traded company in the cannabinoid therapeutics space with an exclusive license to a U.S. government patent from the National Institutes of Health ("NIH").

  • Electrovaya Announces Follow-on Purchase Orders for a total of US$1.3 million (C$1.7 million)

TORONTO, Aug. 01, 2018 (GLOBE NEWSWIRE) -- Electrovaya Inc. (“Electrovaya” or the “Company”) (TSX:EFL) (OTCQX:EFLVF), announces follow-on purchase orders from two current customers totalling  about US$1.3 million (~C$1.7 million) for its ELivate line of forklift battery systems and energy storage modules.

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Forward-Looking Statements

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan," or "planned," "will," or "should," "expected," "anticipates," "draft," "eventually," or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and 24/7MN undertakes no obligation to update such statements

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