Charlotte's Web Secures U.S. Utility Patents for Two New Hemp Varietals with Superior Cannabinoid Expression
BOULDER, Colo., Jan. 12, 2021 /PRNewswire/ - (TSX: CWEB) (OTCQX: CWBHF) Charlotte's Web Holdings, Inc. ("Charlotte's Web" or the "Company"), the market leader in hemp CBD wellness products, announces that Charlotte's Web, Inc., a wholly-owned subsidiary, has been granted U.S. Utility Patents for its hemp genetics by the United States Patent and Trademark Office. The newly issued patents cover two of the Company's new feminized seed hybrid hemp varieties developed under the Company's breeding program; 'Kirsche' (US Patent No. 10,888,060) and 'Lindorea' (US Patent No. 10,888,059). 'Lindorea' and 'Kirsche' are the world's first two allowed U.S. Utility Patents reading on feminized hybrid hemp plants.
The Company now has earned a total of five U.S. hemp variety patent grants: one Plant Patent and four Utility Patents as it advances the science of hemp horticulture.
"Achieving the first patented hemp hybrids demonstrates that it is possible to improve hemp through similar methods as other agronomic crops using natural breeding techniques. We believe that 'Kirsche' and 'Lindorea' are some of the hardiest botanical hemp varietals under cultivation." said Bear Reel, Charlotte's Web vice president of cultivation and R&D and the developer of the new varietals.
'Kirsche,' having a naturally rich phytochemical profile and good disease resistance, has an excellent plant structure and a flower-to-stem ratio that is compatible with mechanical harvesting innovations. 'Lindorea,' developed for the Kentucky climate, exhibits broad resistance to fungal pathogens in the North and South Appalachian regions but also in the wetter autumn climate in Ore. while delivering record breaking yields.
"The 'Kirsche' and 'Lindorea' U.S. patents represent more than four years of scientific research and trials, and some of the most cutting-edge work being conducted in genetics in the hemp CBD industry today," said Deanie Elsner, Charlotte's Web president and CEO. "Charlotte's Web will continue to advance and protect our prized hemp varietals to build consumer confidence in the consistency of our hemp extract products. This is at the heart of our mission to advance the science of hemp for the greater benefit of the people who choose these products for their wellness needs."
About Charlotte's Web Holdings, Inc.
Charlotte's Web Holdings, Inc., a Certified B Corporation headquartered in Boulder, Colorado, is the market leader in the production and distribution of innovative hemp-derived cannabidiol ("CBD") wellness products under a family of brands which includes Charlotte's Web™, CBD Medic™, CBD Clinic™, and Harmony Hemp. The Company's premium quality products start with proprietary hemp genetics that are 100-percent American farm grown and manufactured into whole-plant hemp extracts containing a full spectrum of naturally occurring phytocannabinoids including CBD, CBC, CBG, terpenes, flavonoids and other beneficial hemp compounds. Charlotte's Web product categories include CBD oil tinctures (liquid products), CBD gummies (sleep, stress, inflammation recovery), CBD capsules, CBD topical creams and lotions, as well as CBD pet products for dogs. Charlotte's Web is the number one CBD brand in the USA and distributed through more than 22,000 retail locations, select distributors and online through the Company's website at www.CharlottesWeb.com.
Charlotte's Web was founded by the Stanley Brothers with a mission to unleash the healing powers of botanicals through compassion and science, benefiting the planet and all who live upon it. Charlotte's Web is a socially and environmentally 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 employees, customers, the environment, and diverse communities. The rate the Company pays for agricultural products reflects a fair and sustainable rate driving higher quality yield, encouraging regenerative farming practices, and supporting U.S. farming communities. Management believes that its socially oriented and environmentally responsible actions have a positive impact on its customers, suppliers, employees and stakeholders. Charlotte's Web donates a portion of its pre-tax earnings to charitable organizations.
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Forward-Looking Information
This news release contains forward-looking statements and information within the meaning of applicable securities legislation. Often, but not always, forward-looking statements and information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "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" or "will" be taken, occur or be achieved. Forward-looking statements or information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Charlotte's Web to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements or information contained in this news release.
Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information, including assumptions as to the efficacy and results of research; the adverse impact of the COVID-19 pandemic to the Company's operations; and such risks contained in Charlotte's Web's annual information form dated March 27, 2020 and filed with Canadian securities regulators available on Charlotte's Web's issuer profiles on SEDAR at www.sedar.com. Readers are cautioned that the foregoing list of factors is not exhaustive.
Charlotte's Web Holdings, Inc.
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