Business
Charlotte's Web Hemp Harvest Increases 10X, Building Inventory to Meet Growing CBD Product Demand
Charlotte's Web Hemp Harvest Increases 10X, Building Inventory to Meet Growing CBD Product...
About this update from Charlotte's Web Holdings, Inc.
[{"type":"text","content":"\n\n\n\n\nCharlotte's Web Hemp Harvest Increases 10X, Building Inventory to Meet Growing CBD Product Demand\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nBOULDER, CO, Jan. 15, 2019\n\n\n\nEnsuring quality CBD products are always available for people who rely on \"The World's Most Trusted Hemp Extract™\"\n BOULDER, CO, Jan. 15, 2019 /CNW/ - (CSE: CWEB; OTCQX: CWBHF) Charlotte's Web Holdings, Inc. (\"Charlotte's Web\" or the \"Company\"), the market leader in whole-plant hemp extract products with naturally occurring cannabidiol (\"CBD\"), today reported its 2018 harvested hemp results. The Company reported more than a 10 times growth in harvested hemp compared to its 2017 grow season. The high-quality 100% U.S.-grown hemp will be processed through proprietary extraction methods to create whole plant hemp extract that will be used in Charlotte's Web products for sale in 2019 and 2020.\n\n \n \n\n \n\"Charlotte's Web is one of only a few hemp CBD producers capable of supplying large volumes of high-quality hemp extract from its own supply chain that can meet significantly increasing market demand,\" said Hess Moallem, President and CEO of Charlotte's Web. \"As the category and brand leader, our goal is to increase our market share and with this bountiful harvest we are able to satisfy our customer demands for 2019 and beyond. This incredible harvest ensures we can continue to produce our high-quality human nutrition products without being subject to constantly fluctuating market prices as is common with third-party sourced raw material. This allows us to have better control and predictability over our cost of goods sold and thereby our gross margins. In addition, these harvest levels will allow us to explore opportunities to supply future partners with our proprietary hemp extracts.\"\nCharlotte's Web cultivates its hemp crops outdoors in various regions across the United States to hedge against potential weather risks and other crop related impacts. The Company planted 300 acres of h...