Natural Wellness Options for Support of
Recovery, Focus, and Sleep
DENVER, Aug. 11,
2022 /CNW/ - (TSX: CWEB) (OTC: CWBHF) Charlotte's Web
Holdings, Inc. ("Charlotte's Web," "CW" or the "Company"), the
market leader in full-spectrum hemp extract CBD products, today
announced plans to unveil a product line catering to the sports
vertical. The products are currently undergoing the NSF for
Sport® certification process with NSF, a third-party
organization that manufacturers, regulators, and consumers look to
for the development of public health standards and certification
marks that help protect the world's food, water, consumer products,
and environment.
Charlotte's Web has been used by elite and everyday athletes
alike since its founding, given the support many athletes
experience with Charlotte's Web CBD tinctures and gummies.
Recently, the Company was named the official CBD partner of Angel
City Football Club (ACFC) marking the Company's first partnership
with a sports team. Charlotte's Web-owned CBDMEDIC™ has an
established partnership with retired professional soccer player,
Carli Lloyd.
"Focus, recovery, and sleep are critical areas of
optimization for athletes that our sports products can
support," said Jacques
Tortoroli, Chief Executive Officer of Charlotte's
Web. "An NSF Certified for
Sport® line can assure sports leagues and
their players that ingredients are safe and certifies that there
are no banned substances. We believe our products, upon
meeting NSF certification, will make a positive impact on the lives
of professional, amateur athletes and fans alike."
The initial product from the new Charlotte's Web sports line is
planned for launch later this year pending NSF Certified for
Sport® with non-detectable amounts of THC.
Charlotte's Web already provides THC-Free options and uses an
NSF-certified manufacturing facility. The final NSF Certified for
Sport® product certification process is
underway.
Each product in the Charlotte's Web Sports portfolio pipeline
will undergo NSF's certification for sport to meet the content
quality, transparency and safety requirements of many leagues,
teams, and players. NSF Certified for
Sport® products must have less than 9mcg of THC per
serving. With the majority of Charlotte's Web's current product
portfolio containing full-spectrum products, the broad-spectrum
sports portfolio will target a different consumer segment than most
of its current product lines.
Charlotte's Web NSF Certified for
Sport® THC-Free products will include tinctures,
topicals, gummies, and more. The first product planned for launch
is an NSF certified tincture and gummy followed by a robust sport
portfolio planned for release in the front half of 2023.
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About NSF
NSF is an independent, global organization that facilitates
standards development, and tests and certifies products for the
food, water, health sciences and consumer goods industries to
minimize adverse health effects and protect the environment.
Founded in 1944, NSF is committed to protecting human health and
safety worldwide. With operations in 180 countries, NSF is a Pan
American Health Organization/World Health Organization
Collaborating Center on Food Safety, Water Quality and Indoor
Environment.
NSF's health sciences services include training and education,
consulting, clinical research, regulatory guidance, corporate
compliance and, separately, auditing, GMP and GLP analytical
testing, DNA testing, certification and R&D for the pharma,
biotech, medical device, and dietary supplement industries
throughout the product lifecycle.
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 which includes Charlotte's Web™, CBD Medic™, CBD
Clinic™, and Harmony Hemp™. 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. Web product categories
include full-spectrum hemp 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 retail, over 8,000 health care practitioners, and online
through the Company's website at
https://www.charlottesweb.com/. Charlotte's Web's mission
is "To unleash the healing powers of botanicals with compassion and
science, benefitting the planet and all who live upon it."
Forward-Looking
Information
Certain information in this news release constitutes
forward-looking statements and forward-looking information
(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 forward-looking information. Important
factors that could cause actual results and financial condition to
differ materially from those indicated in the forward-looking
information include, among others, 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 Form 10, as amended, and other filings with the Securities
and Exchange Commission available on www.SEC.com.
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.
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SOURCE Charlotte's Web Holdings, Inc.