CV Sciences issues $2M secured note, extinguishes convertible debt to reduce dilution

CV Sciences, Inc.

Entered $2M secured promissory note with Streeterville Capital; net proceeds $1.59M after $400K OID and $10K fees.
Terminated existing $1.06M convertible note from 3i, LP by paying $675K settlement amount.
CEO states elimination of convertible debt removes dilutive stock issuance and downward price pressure.
Maturity of new note is 9 months from Aug 19, 2022; accelerated repayment from any CARES Act proceeds received.

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