CV Sciences, Inc. has entered into a definitive agreement to acquire Extract Labs, Inc., a manufacturer and distributor of cannabinoid products including gummies, topicals, and tinctures. This acquisition is expected to enhance CV Sciences' operational flexibility and accelerate new product development.
The total consideration for the acquisition payable at closing includes a cash payment of $400,000 and the issuance of CV Sciences' common stock valued at $1,000,000. Additionally, Extract Labs sellers are eligible for up to $600,000 of additional shares if certain revenue targets are met over two 12-month periods post-closing.
The acquisition is anticipated to create opportunities to increase sales, leverage existing assets, and optimize operations, with plans to in-source the manufacturing of select +PlusCBD™ branded products for meaningful cost savings. The transaction is expected to close during the first quarter of 2025.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.