$CVSI CV Sciences, Inc. (OTCQB: CVSI) recently announced the expansion of its operations with a new production and warehouse facility. The 45,500 square foot facility will expand the Company's capacity for hemp CBD oil production, warehousing and fulfillment by more than 500 percent to meet growing retailer and consumer demand for PlusCBD™ Oil products. The facility, located in San Diego, is expected to be operational in the fourth quarter of 2019 and will support CV Sciences' U.S. and international expansion opportunities.
"Our recently announced U.S. hemp sourcing initiative combined with this facility and capacity expansion positions CV Sciences for continued rapid domestic growth, while ensuring we are well-positioned to capitalize on the international opportunities we are currently exploring," said Joseph Dowling, Chief Executive Officer. "The distribution of PlusCBD™ Oil products into national retailers in the Food, Drug and Mass (FDM) channel is growing significantly, yet we are still in the early stages of growth. Despite more than doubling the number of stores carrying our industry leading products to 4,591 stores in the first six months of this year, we see a significant runway for additional growth, including increasing our domestic and international store count, as well as broadening product SKUs with our retail partners."
Nothing I say, post, or do should ever be considered financial advice. I may be holding a long, short or no position. I am NOT or NEVER have I been compensated to post on here or anywhere and all my posts are for entertainment purposes only.
