Las Vegas, October 24, 2014 – CannaVEST Corp. (OTC:CANV), a leading manufacturer and distributor of hemp and cannabidiol (CBD) based products, released a letter from Michael Mona, Jr., Chief Executive Officer, to stockholders and customers regarding a recent report issued by Project CBD:
Dear Stockholders and Customers,
First, thank you for your continued support of and belief in our company. As you may be aware, on October 14, 2014, Project CBD, an organization claiming to be an educational service on the medical utility of the cannabis plant, issued a “special report” titled Hemp Oil Hustlers. In the report, Project CBD makes numerous allegations against individuals and companies in the CBD industry who are not involved with or related to our company. However, of particular concern are the allegations and statements of purported fact concerning the quality and safety of our products.
We owe it to our stockholders and customers to respond to such allegations. The claims disparaging our products are based on scientific inconsistencies, critical flaws in the methodology used to perform tests and false data. Our industry as a whole is subject to numerous attacks, and typically we do not merit such attacks with a response. In this instance, where the quality and safety of our products is attacked, we owe it to our customers and stockholders to respond.
Our methods for processing our hemp oil are expertly controlled from seed to sale. We have invested substantial effort and capital in establishing a world-class research laboratory and processing facility to ensure that our processes for purifying and processing cannabidiol (CBD) exceed all applicable standards. Our lab has achieved purification in excess of 97% on natural (non-synthetic) hemp-based CBD, and our processes and the efforts of our scientific team should be applauded and not disparaged.