CannaVest Corp. Announces First Quarter 2013 Earnings and PhytoSPHERE Systems Increase in Hemp Production and Expansion of

CannaVest Corp. Announces First Quarter 2013 Earnings and PhytoSPHERE Systems
Increase in Hemp Production and Expansion of Additional Product Lines

SAN DIEGO, June 20, 2013 (GLOBE NEWSWIRE) -- CannaVest Corp. (OTC:CANV) is
pleased to inform shareholders and the general public of the release of First
Quarter 2013 earnings. CannaVest Corp. has reported revenues of $1.275 million
and gross profit of $773,500 during the first full quarter of company
operations, with net income of $337,941, $0.04 per share. The company's full
quarterly report and financial statements can be found in the Form 10-Q/A
filed by the company with the Securities and Exchange Commission (SEC) on May
30, 2013 (

First Quarter 2013 Results

The company's financial performance over the first quarter of 2013 was driven
by the sale of raw hemp product to third parties.During the first quarter of
2013 the company sold and shipped to third parties 51 kilograms of finished
CBD products.

"After the commencement of our business and acquisition of production and
supply agreements from Phytosphere Systems in January 2013, we are pleased to
report that we are buying and selling to third parties substantial inventories
of raw hemp product, which generated our net income of $337,941 in the first
quarter of 2013," Michael Mona, Jr., Chief Executive Officer of CannaVest
Corp. said."We plan to substantially increase our production capabilities
through our existing supply chain partners, and add new partners, with the
goal of being the industry leader in the production of natural
pharmaceutical-grade CBD-rich oils, and one of the largest hemp production
companies in the world."

Increase in Hemp Production

The company has expanded its production capabilities for raw hemp product by
adding an additional 4,000 tons to its existing capability of 2,000 tons.This
increase of raw hemp is expected to add the equivalent of 450 tons of
Cannabinoid-rich hemp oil to overall reserves, an increase from 300 tons.This
increase will position the company for more robust sales of raw product while
allowing the company to increase its production of other cannabinoid-rich hemp
oils such as Cannabigerol (CBG).

In addition, the company intends to invest in a series of new hemp harvesting
and production equipment.The goal of this investment is to allow for the
added in-ground production to be processed and handled in an efficient manner
while keeping the integrity of the supply chain intact and increasing the
quality of the production.

Letter of Intent for Laboratory Space

On June 11, 2013, CannaVest Corp. executed a letter of intent for the leasing
of approximately 2,389 square feet of office and laboratory space located in
San Diego, California.Upon consummation of the lease, the company will
utilize this space for the production of its CBD-rich oils and derivatives,
cannabigerol (CBG), as well as cannabidiolic acid (CBD-A) and various

These operations intend to serve the demand from pharmaceutical companies and
research bodies, while allowing the company to explore additional combinations
of products within new and expanding product lines.The company is positioning
itself to supply large quantities of naturally derived cannabinoids,
tepenes/terpenoids to the pharmaceutical industry as an additive/enhancing
ingredient to their current product portfolios.Research has shown that
combining various cannabinoids and terpenoids have increased the overall
effects of a single component cannabinoid product (known as the "Entourage
Effect"), and the company's product offerings are meant to foster this effect
for the benefit of customers and, ultimately, end users of the products

Medical Marijuana, Inc. Press Release

On June 18, 2013, Medical Marijuana, Inc. (OTC: MJNA) issued a press release
reporting events and other information related to Phytosphere Systems.Medical
Marijuana, Inc. purported to jointly announce with Phytosphere Systems the
expansion of hemp production capability.As previously reported by CannaVest
Corp. in its Form 8-K/A filed on February 13, 2013, on January 29, 2013
CannaVest Corp. acquired certain assets of Phytosphere Systems, LLC, including
all vendor and supplier contracts for the securing of raw hemp product, as
well as all Internet domain names and an exclusive license to use the name
Phytosphere Systems for the purpose of developing and commercializing, buying,
selling, marketing and promoting hemp-based products.

CannaVest Corp., through its Phytosphere Systems operations, supplies raw hemp
product to Medical Marijuana, Inc. and its related companies.The company is
in discussions with Medical Marijuana, Inc. to enter into formal supply and
distribution agreements that will allow Medical Marijuana, Inc. and its
related companies to secure raw hemp product at pricing discounts to be
determined from current market values, and allow certain of those companies
distribution rights for finished products owned by CannaVest Corp.No such
agreements are currently in place, although the company expects they will be
completed in the near future.

In the June 18, 2013 press release, Medical Marijuana, Inc. also reported that
Phytosphere Systems is developing a product for the pet industry (Cibedex™), a
food based hemp oil and protein powder business (US HempOil™), a hemp based
fitness brand (HempFit™) and a skin care line (Cibaderm™).

About CannaVest Corp.

We are in the business of developing, producing, marketing and selling end
consumer products to the nutraceutical industry containing the hemp plant
extract, Cannabidoil ("CBD"), and reselling to third parties raw product
acquired by us pursuant to our supply relationships in Europe. We seek 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 constituent of the hemp plant and CBD is
derived from hemp stalk and seed.

Additional Information available from or by following this


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.

CONTACT: Corporate Contact:
         CannaVest Corp.
         2688 South Rainbow Blvd, Suite B
         Las Vegas, NV 89146
         Tel: 866-290-2157
         Investor Relations Contact:
         Stuart T. Smith
         SmallCapVoice.Com, Inc.
         P. 512-267-2430
         F. 512-267-2530
         AIM: SmallCapVoice7
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