BOULDER, CO, June 3, 2019 /PRNewswire/ - Charlotte's Web Holdings, Inc. ("Charlotte's Web" or the "Company") (TSX:CWEB,OTCQX:CWBHF), the market leader in hemp CBD extract products, has officially unveiled its newest CBD product line - hemp extract-infused CBD Gummies – made with whole-plant extract from its prized hemp genetics and featuring synergistic functional ingredients to support specific health related functions including everyday stress, sleep, and recovery from exercise or active lifestyles.
Available in a variety of flavors, gummies are the latest addition to the Company's expanding line of CBD hemp-extract products. They are available for purchase through Charlotte's Web online store today, and begin shipping this week to retailers within the Company's growing network of more than 6000 locations across the United States.
"Gummies are a very popular edible format as a result of convenience and measurable consumption," stated Kelsey Morrison, Associate Director of Product Development at Charlotte's Web. "This new delivery format from Charlotte's Web provides an easy bite-sized way to ingest full-spectrum hemp-extract CBD."
The market for gummy vitamins for wellness is a global phenomenon, forecasted to rise at a CAGR of 5.2% between 2017 and 2025 according to Transparency Market Research and reaching US$4.17 billion by 2025. CBD gummies specifically have gained significant popularity lately as more people learn about CBD and its potential health benefits. In 2018 "CBD gummies" ranked as the third most searched term in the food category on Google.
"Our customers have been asking for gummies and we are excited to bring this new format to our product portfolio," said Deanie Elsner, CEO of Charlotte's Web. "When developing this product line, our product sciences team wanted to ensure that our gummies would be differentiated and thoughtfully formulated to be as effective as possible. As a result, we've created superior formulations that pair our high-quality hemp extract with supporting botanicals to provide enhanced results."
The gummies feature Charlotte's Web whole-plant hemp extract made from the Company's proprietary hemp genetics that people know and trust. Charlotte's Web extracts contain a full-spectrum of 80+ naturally occurring phytocannabinoids plus terpenes and flavonoids. In addition, the three varieties of gummies are uniquely formulated and enhanced with functional herbs and botanical supplements that work in synergy to further support a targeted wellness focus.
Charlotte's Web developed three gummy CBD options:
Charlotte's Web SLEEP: CBD + Melatonin – to support restful sleep with 10 mg of CBD and 3mg of melatonin. (Raspberry flavor)
Charlotte's Web CALM: CBD + Lemon balm + L-theanine – to support everyday stresses and feel relaxed, but not sleepy with 10 mg of CBD, 50mg of L-theanine, and 75mg of lemon balm. (Lemon Lime flavor)
Charlotte's Web RECOVERY: CBD + Ginger + Tumeric – For exercise and active lifestyles to support healthy inflammatory response and promote joint strength with 10 mg of CBD, 25mg of ginger, and 50mg curcuminoids. (Ginger flavor)
The launch of the gummies line follows the recent expansion of its CBD pet line as the Company broadens its product offerings.
Charlotte's Web continues to blaze new trails, harnessing its brand leadership advantage as the digital marketplace leaders open up to ecommerce and digital advertising for hemp extract products. "In addition to availability through our retail channels and online store, we are launching a pilot digital marketing program through Google, and are also working to make our products available on Amazon," added Ms. Elsner.
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. Industrial hemp products are non-intoxicating. 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 at May 24, 2019 Charlotte's Web had 39,772,154 Common Shares outstanding and 138,332.38 Proportionate Voting Shares convertible at 400:1, for an effective equivalent of 95,105,106 Common Shares outstanding.
Certain information in this news release constitutes 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 estimates 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.