CV Sciences defaults on $1.06M convertible note; enters forbearance until June 1, 2022

CV Sciences, Inc.

Failed to pay $130K principal plus interest on May 17, 2022 maturity date, triggering default.
Default interest rate of 15% per annum applied; investor can demand redemption at 115% of face value.
Forbearance agreement signed May 18, 2022; investor agrees not to exercise remedies through June 1, 2022 or earlier trigger events.
Company must pay aggregate principal at redemption premium plus all accrued interest and fees after forbearance period.
All other terms of the original note and securities purchase agreement remain in effect.

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