Only Full-Spectrum Hemp-Derived CBD Pet Line
to Comply with Industry's Two Highest Standards
BOULDER, CO, Feb. 20, 2020 /CNW/ - Charlotte's Web Holdings,
Inc. ("Charlotte's Web" or the "Company") (TSX:CWEB, OTCQX:CWBHF),
the market leader in hemp-derived extract products, is pleased to
announce that its edible pet supplements have been approved to
carry seals of approval from two of the most trusted organizations
in their respective industries, the National Animal Supplement
Council (NASC), a non-profit group dedicated to protecting and
enhancing the health of companion animals throughout the country
and the U.S. Hemp Authority™, an organization created for the
purpose of helping create standardization and quality across the
hemp industry.
As the only full-spectrum hemp derived CBD brand to comply with
both the NASC Quality Seal program and the U.S. Hemp Authority™
Certification Program, Charlotte's Web is further validating to pet
owners why it is known as The World's Most Trusted Hemp Extract™.
The Company has been expanding its presence in the fast-growing pet
CBD market, with its 12 SKU pet line experiencing 57%
year-over-year revenue growth in Q3 2019.
Charlotte's Web pet products will also now feature labels
confirming Non-GMO, Grain Free and USA Grown Hemp as part of the Company's
commitment to corporate responsibility, health and wellness, and
sustainable farming practices. As part of these efforts,
Charlotte's Web has been transitioning its hemp farming from
conventional to organic agriculture practices, with more than 50%
of its fields now certified organic. The Company is pursuing broad
organic certification for its various product lines.
"For canine owners, we understand that dogs aren't just pets,
they're family. They deserve products you can trust," said
Deanie Elsner, CEO of Charlotte's
Web. "Charlotte's Web is committed to producing the safest and
highest quality pet products. We are very proud that our edible pet
products have earned a seal of approval from both the NASC and the
U.S. Hemp Authority."
In addition to the Company's full-spectrum hemp extract with
naturally occurring CBD and other cannabinoids and terpenes,
Charlotte's Web canine chews include functional ingredients to
support Hip & Joint, Senior Dogs and Calming. Each of these
products will display the NASC Quality Seal on their packaging.
The NASC Quality Seal enables consumers to make safe and
empowered purchasing decisions when shopping for their pets. The
seal is awarded only to manufacturers and suppliers that have
successfully passed an NASC facility audit and comply with rigorous
quality standards, including strict labeling requirements,
real-time adverse event reporting, and random product testing by an
independent lab.
Charlotte's Web products also carry U.S. Hemp Authority™
Certification, which requires meeting or exceeding stringent
self-regulatory standards for Current Good Manufacturing Practices
(cGMP) and passing an annual third-party audit. The Program is
designed to increase consumer and law enforcement confidence in
hemp products being sold in the market today by designating them as
safe and legal.
Subscribe to Charlotte's Web news
About Charlotte's Web Holdings, Inc.
Charlotte's Web Holdings, Inc. is the market leader in the
production and distribution of innovative hemp-derived cannabidiol
("CBD") wellness products. Founded by the Stanley Brothers, the
Company's premium quality products start with proprietary hemp
genetics that are responsibly manufactured into hemp-derived CBD
extracts naturally containing a full spectrum of phytocannabinoids,
including CBD, terpenes, flavonoids and other beneficial hemp
compounds. Charlotte's Web product categories include CBD oil
tinctures (liquid products), CBD capsules, CBD topicals, as well as
CBD pet products. Charlotte's Web hemp-derived CBD extracts are
sold through select distributors, brick and mortar retailers, and
online through the Company's website at www.CharlottesWeb.com.
The rate the Company pays for agricultural products reflects a fair
and sustainable rate driving higher quality yield, encouraging good
farming practices, and supporting U.S. farming communities.
Charlotte's Web is a socially conscious company and is committed
to using business as a force for good and a catalyst for
innovation. The Company weighs sound business decisions with
consideration for how its efforts affect its employees, customers,
the environment, and the communities where its employees live and
where it does business, while maximizing profits and strengthening
its brands. The Company's management believes that socially
oriented actions have a positive impact on the Company, its
employees and its shareholders. Charlotte's Web donates a portion
of its pre-tax earnings to charitable organizations.
Shares of Charlotte's Web trade on the Toronto Stock Exchange
(TSX) under the symbol "CWEB" and are quoted in U.S. Dollars in
the United States on the OTCQX
under the symbol "CWBHF". As of January 1,
2020, Charlotte's Web had 67,418,174 Common Shares
outstanding and 95,342.49 Proportional Voting Shares convertible at
400:1 into Common Shares, for an effective equivalent of
105,555,170 Common Shares outstanding.
Forward-Looking Information
Certain
information in this news release constitutes forward-looking
statements and forward-looking information (collectively,
"forward-looking information"). In some cases, but not necessarily
in all cases, forward looking information can be identified by the
use of forward-looking terminology such as "plans", "targets",
"expects" or "does not expect", "is expected", "an opportunity
exists", "is positioned", "estimates", "intends", "assumes",
"anticipates" or "does not anticipate" or "believes", or variations
of such words and phrases or state that certain actions, events or
results "may", "could", "would", "might", "will" or "will be
taken", "occur" or "be achieved". In addition, any statements that
refer to expectations, projections or other characterizations of
future events or circumstances contain forward-looking information.
Statements containing forward-looking information are not
historical facts but instead represent management's expectations,
estimates and projections regarding future events.
Forward-looking information is necessarily based on a number
of opinions, assumptions and estimates that, while considered
reasonable by the Company as of the date of this news release, are
subject to known and unknown risks, uncertainties, assumptions and
other factors that may cause the actual results, level of activity,
performance or achievements to be materially different from those
expressed or implied by such forward-looking information, including
but not limited to the factors described in greater detail in the
public documents of the Company available
at www.sedar.com. These factors are not
intended to represent a complete list of the factors that could
affect the Company; however, these factors should be considered
carefully. There can be no assurance that such expectations,
estimates, projections and assumptions will prove to be correct.
The forward-looking statements contained in this news release are
made as of the date of this news release, and the Company expressly
disclaims any obligation to update or alter statements containing
any forward-looking information, or the factors or assumptions
underlying them, whether as a result of new information, future
events or otherwise, except as required by law.
View original content to download
multimedia:http://www.prnewswire.com/news-releases/charlottes-web-pet-products-approved-for-nasc-quality-and-us-hemp-authority-seals-301008164.html
SOURCE Charlotte's Web Holdings, Inc.