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SAN DIEGO - CV Sciences, Inc. (OTCQB:CVSI), a leading consumer wellness company with annual revenue of $15.62 million, announced the launch of its new plant-based food brand, Lunar Fox™ Food Co. The product line, which includes vegan alternatives to traditional foods, is now available at select retailers and through the company’s website. According to InvestingPro data, the company maintains a healthy balance sheet with more cash than debt, though its overall financial health score indicates challenges ahead.
The Lunar Fox™ Food Co. range features a variety of gluten-free, 100% natural options catering to the increasing consumer demand for vegan products. The lineup includes CHEDDRLY MAC!, a vegan mac and cheese; CHEDDRLY!, a dairy-free cheese substitute; WHISKED!, an egg substitute for omelets and bakes; BAKED!, a baking-specific egg alternative; MANGIA!, a plant-based Italian meatless alternative; FIESTA!, a Mexican-flavored meat substitute; and BOLOGNESE!, a vegan Italian sauce. With a robust gross margin of 46.3%, the company appears positioned to maintain competitive pricing while preserving profitability in this new venture.
Joseph Dowling, CEO of CV Sciences, expressed enthusiasm for the launch, citing the expected growth of the global vegan food market and the role of millennials and flexitarians in driving sales. The introduction of Lunar Fox™ Food Co. adds to the company’s growing portfolio, which includes the +PlusCBD™ brand, the top-selling hemp-extract brand in the U.S. natural products market, and other health-focused products such as +PlusHLTH™ cannabinoid-free supplements.
CV Sciences, with offices in San Diego, California, Grand Junction, Colorado, and Warsaw, Poland, specializes in nutraceuticals and plant-based foods. The company’s products are sold through various channels, from B2B to B2C, and are known for their commitment to science-backed, natural ingredients.
The release of Lunar Fox™ Food Co. products is part of CV Sciences’ ongoing efforts to meet consumer demand and improve health and well-being. While the company’s market capitalization stands at $5.71 million, InvestingPro analysis suggests the stock may be undervalued at its current price of $0.03. For deeper insights into CV Sciences and similar investment opportunities, investors can access comprehensive Pro Research Reports covering 1,400+ US equities through InvestingPro. The information in this article is based on a press release statement from CV Sciences, Inc.
In other recent news, Cannaisseur Group Inc. has announced the resignation of Mr. Keijiero Varela from its board of directors, effective March 12, 2024. The announcement was made through a Form 8-K filing with the Securities and Exchange Commission. Mr. Varela is leaving to pursue other business opportunities, and the company has not yet named a successor or detailed how his responsibilities will be handled in the interim. This executive change comes as Cannaisseur Group continues to navigate the competitive landscape of the medicinal botanical sector. The board and management team are expected to address this vacancy in due course. Investors and stakeholders may closely monitor how this change impacts the company’s governance and strategic initiatives. The company’s adherence to its mission and vision will be observed in light of this recent development.
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