Charlotte’s Web added to Health Canada’s List of Approved Cultivars (LOAC) for Cultivation in 2021
BOULDER, Colo., April 20, 2021 /PRNewswire/ – Charlotte’s Web Holdings, Inc. (“Charlotte‘s Web” or the “Company“) (TSX: CWEB) (OTCQX: CWBHF), an authorized B Corporation and the market chief in hemp CBD extract products, right now introduced that three of its proprietary hemp cultivars have been authorised for registration on Health Canada’s List of Approved Cultivars (“LOAC“) for out of doors cultivation in Canada. These are among the many first hemp CBD cultivars on the LOAC which might be early flowering and early maturing for out of doors cultivation and harvesting inside the shorter Canadian rising season. The authorised cultivars embody the Company’s authentic “CW1AS1” U.S. patented genetics, clearing the best way for Charlotte’s Web to domesticate its main CBD wellness merchandise in Canada in 2021. Currently, Charlotte’s Web Products usually are not simply out there in Canada as a result of legal guidelines don’t enable for bulk importing of USA grown hemp CBD or associated merchandise into Canada.
“Today, Charlotte’s Web is the leading hemp wellness company in the U.S. with the most recognized and trusted hemp CBD extract,” mentioned Deanie Elsner, Charlotte’s Web president and CEO. “We aspire to be the world’s leading botanicals wellness company, entering countries with an asset light model where federal laws permit hemp extracts for health and wellness. Israel and Canada are included in the first steps of our international expansion.”
In addition to the Company’s CW1AS1 cultivar used for its main Original Formula and different full-spectrum hemp extract merchandise, Charlotte’s Web is bringing two early maturing hemp varieties to Canada – named “Duchess” and “Ambassador” – developed for cultivation in shorter northern local weather rising seasons.
Charlotte’s Web’s authorised cultivars are three of 15 added to the 2021 LOAC. “The majority of approved cultivars on the LOAC to date have been for industrial hemp grown to produce food, fiber, and animal feed. Now our approved cultivars are paving the way for full-spectrum hemp CBD demand in Canada and most importantly, will provide access to Charlotte’s Web products in Canada1,” defined Jared Stanley, co-founder and chief cultivation officer of Charlotte’s Web.
Hemp-Derived CBD in Canada
Despite Canada being one of many first nations to federally legalize the sale of cannabis, the hemp CBD wellness class is underdeveloped in Canada, with restricted choices of high quality full-spectrum hemp extract merchandise1. Most CBD merchandise in Canada are produced from cannabis with THC ranges nicely above 0.3% which have an intoxicating impact. Charlotte’s Web hemp cultivars are cultivated under 0.3% THC, leading to full-spectrum extracts with wellness advantages, however with out the intoxication from THC.
Currently, Health Canada treats hemp CBD below the identical regulatory regime as cannabis THC. The Canadian hemp trade is lobbying the Canadian federal authorities to alter the rules for hemp CBD to a pure well being complement that may very well be added to meals, drinks, cosmetics and different wellness merchandise. Hemp CBD merchandise may then be offered in all varieties of retailers throughout Canada, which might assist meet demand for the product. In September 2020 a report prepared by the Institute of Fiscal Studies and Democracy1 (IFSD) concluded that if Ottawa regulated CBD like common well being merchandise it might open an annual market price greater than C$2 billion with immense potential for exporting CBD to different nations.
About Charlotte’s Web Holdings, Inc.
Charlotte’s Web Holdings, Inc., a Certified B Corporation headquartered in Boulder, Colorado, is the market chief within the manufacturing and distribution of modern hemp-derived cannabidiol (“CBD”) wellness merchandise below a household of manufacturers which incorporates Charlotte’s Web™, CBD Medic™, CBD Clinic™, and Harmony Hemp. The Company’s premium high quality merchandise begin with proprietary hemp genetics which might be 100-percent American farm grown and manufactured into whole-plant hemp extracts containing a full spectrum of naturally occurring phytocannabinoids together with CBD, CBC, CBG, terpenes, flavonoids and different useful hemp compounds. The Company’s CW Labs R&D science division is situated on the University at Buffalo in New York which is a part of the State University of New York (SUNY) system of 64 universities. Charlotte’s Web product classes embody CBD oil tinctures (liquid merchandise), CBD gummies (sleep, stress, inflammation recovery), CBD capsules, CBD topical creams and lotions, in addition to CBD pet products for dogs. Charlotte’s Web is the primary CBD model within the USA and is distributed via greater than 22,000 retail areas, choose distributors and on-line via the Company’s web site at
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1. Institute of Fiscal Studies and Democracy (IFSD) on the University of Ottawa: “Assessing the Economic Impact of Regulating CBD Products as Health Products“ September 14, 2020.
This information launch accommodates forward-looking statements and knowledge inside the which means of relevant securities laws. Often, however not all the time, forward-looking statements and knowledge may be recognized by way of phrases corresponding to “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such phrases and phrases or state that sure actions, occasions or outcomes “may”, “could”, “would”, “might” or “will” be taken, happen or be achieved. Forward-looking statements or info contain recognized and unknown dangers, uncertainties and different elements which can trigger the precise outcomes, efficiency or achievements of Charlotte’s Web to be materially totally different from any future outcomes, efficiency or achievements expressed or implied by the forward-looking statements or info contained on this information launch.
Risks, uncertainties and different elements concerned with forward-looking info may trigger precise occasions, outcomes, efficiency, prospects and alternatives to vary materially from these expressed or implied by such forward-looking info, together with assumptions as to the efficacy and outcomes of analysis; and the antagonistic influence of the COVID-19 pandemic to the Company’s operations. These foregoing lists usually are not exhaustive. Additional info on these and different elements which may have an effect on the Company’s operations or monetary outcomes are included within the Company’s most up-to-date annual info kind and different public paperwork on file with the Canadian Securities regulatory authorities on www.sedar.com.
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