DENVER, Jan. 27,
2023 /CNW/ - (TSX: CWEB) (OTCQX: CWBHF) Charlotte's
Web Holdings, Inc. ("Charlotte's Web" or the "Company"), the market
leader in cannabidiol ("CBD") hemp extract wellness products issues
the following statement regarding the FDA's January 26th press announcement:
Charlotte's Web is encouraged that the Administration has agreed
that it is necessary for Congress to act for the regulation of
hemp-derived cannabidiol ("CBD"). The FDA position has taken four
years to come together, while the CBD industry has matured without
a clear regulatory pathway for CBD products that are already
available for sale in all 50 states and consumed safely by millions
of Americans. This includes professional athletes, veterans, and
everyday wellness seekers. The Company looks forward to continuing
its work in Washington DC to
forward this process.
The Company also agrees with the FDA on the importance of
testing to ensure the quality and safety of CBD products and has
already provided studies to support this position. As the CBD
pioneer and market leader, Charlotte's Web has engaged in safety
studies and compiled toxicology data including liver safety. These
studies have been conducted under an Institutional Review Board and
Good Laboratory Practices, following guidelines of the Organization
for Economic Co-operation and Development (OECD). They have been
subjected to an unbiased peer review and published in journals and
have been vetted and accepted for indexing in the PubMed central
database. These studies support the efforts of a legislative
regulatory framework.
During this four-year period of regulatory absence, Charlotte's
Web has set the standard in responsible self-regulation in product
manufacturing, safety, and labeling. In addition to safety and
toxicology studies the Company utilizes cGMP-compliant
manufacturing facilities, seed-to-shelf testing, and certificate of
analysis (COA) transparency for all products. Recently, Charlotte's
Web became the first and only broad-spectrum CBD hemp extract to be
NSF Certified for Sport®, the gold standard to ensure safe and
consistent products for professional athletes and consumers
alike.
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About Charlotte's Web Holdings,
Inc.
Charlotte's Web Holdings, Inc., a Certified B Corporation
headquartered in Denver, is the
market leader in innovative hemp extract wellness products under a
family of brands that includes Charlotte's Web™, CBD Medic™, and
CBD Clinic™. Charlotte's Web whole-plant CBD extracts come in
full-spectrum and broad-spectrum (THC-free) options, including the
world's only broad-spectrum CBD certified NSF for Sport®, which is
the official CBD of Major League Baseball©. Founded by the seven
Stanley Brothers, ignited the CBD
industry when they came to global prominence with the coverage of a
young girl's astounding reaction to their hemp extract. Their
advocacy changed laws, public perception, and research around the
vast health potential of plant-based solutions. The Stanleys built
their business with the mission to bring safe, botanical options to
health seekers worldwide. Charlotte's Web branded premium quality
products start with proprietary hemp genetics that are American
farm-grown using organic and regenerative cultivation practices.
The Company's hemp extracts have naturally occurring botanical
compounds including cannabidiol ("CBD"), CBC, CBG, terpenes,
flavonoids, and other beneficial compounds. The Company's CW Labs
R&D division advances hemp science at a center of excellence in
Louisville, Colorado. Charlotte's
Web product categories include CBD oil tinctures (liquid products)
CBD gummies (sleep, stress, exercise recovery), CBD capsules, CBD
topical creams and lotions, as well as CBD pet products for
dogs. Through its vertically integrated business model,
Charlotte's Web maintains stringent control over product quality
and consistency with 20+ product lot testing for quality assurance.
Charlotte's Web products are distributed to more than 15,000
retailer locations, over 8,000 health care practitioners, and
online through the Company's website at
www.charlottesweb.com.
© Major League Baseball trademarks and copyrights are used with
permission of Major League Baseball. Visit MLB.com.
Forward-Looking
Information
Certain information in this news release constitutes
forward-looking statements and forward-looking information within
the meaning of applicable securities laws (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 current
expectations, estimates and projections regarding the future of
our business, future plans, strategies, projections, anticipated
events and trends, the economy and other future conditions.
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 statements containing forward-looking
information. Although these statements containing forward-looking
information are based on assumptions the Company considers to be
reasonable based on the information available on the date such
statements are made, such statements are not guarantees of future
performance and readers are cautioned against placing undue
reliance on forward-looking information.
The material factors and assumptions used to develop the
forward-looking information herein include, but are not limited to,
international and political considerations; regulatory changes;
and the factors discussed throughout the "Risk Factors" section of
the Company's most recently filed annual information form available
on www.SEDAR.com and in the Company's most recently filed
Annual Report on Form 10-K and quarterly report on Form 10-Q as
amended, and other filings with the Securities and Exchange
Commission available on www.SEC.gov. Except as required by
applicable securities laws, the Company undertakes no obligation to
publicly update any forward-looking information, whether written or
oral, that may be made from time to time, whether as a result of
new information, future developments or otherwise.
Charlotte's Web Holdings, Inc.
THE WORLD'S MOST TRUSTED HEMP EXTRACT™
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SOURCE Charlotte's Web Holdings, Inc.