Charlotte’s Web Issues Statement on Hemp CBD Regulation

DENVER – (TSX: CWEB) (OTCQX: CWBHF) Charlotte’s Web Holdings, Inc., 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. 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.

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.

(This information is primarily sourced from Charlotte’s Web Holdings, Inc.  Highly Capitalized has neither approved nor disapproved the contents of this news release. Read our Disclaimer here).