CV Sciences, Inc. Applauds Governor Abbot's Veto of Senate Bill 3

Rhea-AI Summary

CV Sciences (OTCQB:CVSI), a consumer wellness company focused on hemp extracts, commends Texas Governor Greg Abbott's decision to veto Senate Bill 3. The bill would have effectively banned the sale of consumable hemp products in Texas.

The vetoed legislation posed a significant threat to Texas's hemp industry, which provides employment to thousands and supplies wellness products statewide. Governor Abbott emphasized the need for a regulatory framework that ensures public safety, aligns with federal law, maintains proper enforcement funding, and can be implemented without delays.

Positive

• Veto preserves CV Sciences' ability to continue operations in Texas market
• Protection of existing hemp industry jobs and businesses in Texas
• Maintained access to federally legal hemp products for Texas consumers

Negative

• None.

SAN DIEGO, CALIFORNIA / ACCESS Newswire / June 23, 2025 / CV Sciences, Inc. (OTCQB:CVSI) (the "Company", "CV Sciences", "our", "us" or "we"), a preeminent consumer wellness company specializing in hemp extracts and other proven science-backed, natural ingredients and products, today applauds Texas Governor Greg Abbott for vetoing Senate Bill 3, which would have created an effective ban on the sale of consumable hemp products across the state of Texas.

The proposed legislation posed a direct threat to Texas's robust hemp industry, which supports thousands of jobs and provides effective wellness products for consumers throughout the state. Senate Bill 3 would have effectively removed the majority of hemp-derived products currently available on the market, disrupting small businesses and limiting consumer access to federally legal wellness alternatives. We agree with Governor Abbott as he declared in his veto statement: "Texas must enact a regulatory framework that protects public safety, aligns with federal law, has a fully funded enforcement structure, and can take effect without delay."

CV Sciences remains committed to advocating for science-backed, safe and legal access to hemp-derived products across the country. The Company thanks Governor Abbott for recognizing the consumer impact of this bill.

About CV Sciences, Inc.

CV Sciences, Inc. (OTCQB:CVSI) is a consumer wellness company specializing in nutraceuticals and plant-based foods. The Company's hemp extracts and other proven, science-backed, natural ingredients and products are sold through a range of sales channels from B2B to B2C. The Company's +PlusCBD™ branded products are sold at select retail locations throughout the U.S. and are the top-selling hemp-extract brand in the natural products market, according to SPINS, the leading provider of syndicated data and insights for the natural, organic and specialty products industry. With a commitment to science, PlusCBD™ product benefits in healthy people are supported by human clinical research data, in addition to three published clinical case studies available on PubMed.gov. +PlusCBD™ was the first hemp extract supplement brand to invest in the scientific evidence necessary to receive self-affirmed Generally Recognized as Safe (GRAS) status. The Company also produces cannabinoid-free supplements under its +PlusHLTH™ brand, with targeted formulations to optimize health, improve performance, and increase vitality. Our Cultured Foods™ brand provides a variety of 100% plant-based food products that are distributed primarily in the EU and other select markets. Cultured Foods™ caters to individuals seeking vegan, gluten-free, or flexitarian options for a wholesome and satisfying culinary experience. In addition, the Company owns Elevated Softgels, a leading manufacturer of encapsulated softgels and tinctures for the supplement and nutrition industry. CV Sciences, Inc. has primary offices and facilities in San Diego, California, Grand Junction, Colorado, and Warsaw, Poland. Additional information is available from OTCMarkets.com or by visiting www.cvsciences.com.

Forward Looking Statements

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 risk and uncertainties. CV Sciences does not undertake any obligation to publicly update any forward-looking statements, except as required by applicable law. As a result, investors should not place undue reliance on such forward-looking statements.

Contact Information

ir@cvsciences.com

SOURCE: CV Sciences, Inc.

View the original press release on ACCESS Newswire

FAQ

What was Texas Senate Bill 3 and why did Governor Abbott veto it?

Senate Bill 3 would have effectively banned the sale of consumable hemp products in Texas. Governor Abbott vetoed it, stating the need for a regulatory framework that protects public safety, aligns with federal law, and has proper enforcement structure.

How would Senate Bill 3 have affected CV Sciences (CVSI) operations in Texas?

The bill would have severely impacted CVSI by effectively removing the majority of hemp-derived products from the Texas market, disrupting their business operations and limiting consumer access to their products.

What is the current status of hemp product sales in Texas after the veto?

With the veto of Senate Bill 3, hemp-derived products remain legal for sale in Texas, allowing companies like CV Sciences to continue providing wellness products to Texas consumers.

How significant is the Texas hemp market for companies like CV Sciences (CVSI)?

The Texas hemp market is substantial, supporting thousands of jobs and providing wellness products throughout the state. It represents an important market for companies like CVSI in the hemp-derived product industry.