SAN DIEGO, Feb. 12, 2014 (GLOBE NEWSWIRE) -- CannaVest Corp. (OTC:CANV), the world's leading industrial hemp company spearheading the development of cannabidiol (CBD)-rich hemp oils and other hemp industry products and services, proudly announces that its wholly-owned subsidiary, PhytoSphere Systems LLC, won its third consecutive High Times Medical Cannabis Cup award for "Highest Cannabidiol (CBD) Concentrate" with the pharmaceutical-grade CBD-rich hemp oil prototype, CBD Simple™.
The 2014 Los Angeles High Times Medical Cannabis Cup win is the latest in many awards for CBD Simple™, which also won the 2013 High Times Cannabis Cup competition in Amsterdam and the 2013 Seattle High Times Cannabis Cup for Highest (hemp) CBD Concentrate. In addition, CBD Simple™ took top honors at the 2013 Michigan Medical Marijuana Conference "Green Cup" contest for Highest CBD Concentrate.
The record-breaking prototype pharmaceutical CBD extract is not available to the public for purchase, but is intended for future product development. Dr. Joshua Hartsel, senior research scientist and head of research and development for CannaVest and PhytoSphere Systems, developed CBD Simple™ to explore the exciting potential of CannaVest's world-class laboratories. With the help of life sciences industry veteran Greg Waterbury (Project and Laboratory Manager) and Ryan Lamer (Research Scientist), the three have come up with several innovative techniques that have taken CannaVest CBD-rich hemp oil products to new industry standards.
"Winning our third Cannabis Cup in less than a year is a major accomplishment," says Michael Mona III, VP of Operations for CannaVest Corp. "With each competition, we are seeing significantly more entrants and more product submissions in the category. We were impressed by the increase in awareness of CBD-rich cannabis oils, and the industry focus on a higher level of quality and potency. We were thrilled to come away with another first place finish over 40 other competitors."
"We are encouraged by our repeated success at High Times Cannabis Cup competitions around the world," says Dr. Hartsel. "The increased visibility we are receiving has resulted in a number of inquiries about our CBD-rich hemp oil, and we are proud of the quality, consistency, and supply we provide. Our team has worked very hard to maintain this level of excellence, and we look forward to the increased demand for our award-winning product."
In addition to CBD Simple™, PhytoSphere Systems is responsible for developing CBD-rich hemp oil products like Real Scientific Hemp Oil (RSHO)™ -- the highest quality, all-natural, super concentrated CBD nutritional supplement on the market today; Cibdex™, an everyday CBD-rich hemp oil supplement available in 100mg and 500mg tinctures and 25mg vegan capsules; and Cibaderm™, a CBD-rich hemp oil infused personal care line that includes first-of-its-kind hair care, body care, lotions and salve.
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 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 and a wholly-owned subsidiary of 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
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.
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 and other factors, which may cause the actual results, performance or achievements of CannaVest Corp. to be materially different from the statements made herein.
LEGAL DISCLOSURE
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 are involved with federally legal distribution of medical marijuana-based products within certain international markets. Cannabidiol is a natural constituent of hemp oil.