The results of the 2019 harvest versus the 2018 are as follows:
245% increase in total dried biomass to 2.34 million lbs.
22% increase in CBD potency
10% increase in yield per acre
Estimated 36 thousand kg CBD harvested, with a 33% reduction per milligram of cost
"We are very pleased with the results of the 2019 harvest, achieving yield and potency levels that surpassed our expectations. This reflects the tremendous expertise we have gained in hemp cultivation over the last six years," said
Charlotte's Web, the world's most trusted hemp extract™, is 100% American-grown and is cultivated across three states (
The Horticulture Division at Charlotte's Web excels in the development of new hemp genetics with superior cannabinoid expression and increasingly efficacious full-spectrum extract profiles. The 2019 growing season saw two varieties from the Company's breeding program go into full production - "Lindorea" and "Kirsche." Developed by Charlotte's Web Senior Director of
"Our genetics resulted in the highest biomass yield per acre in our history, with many acres producing well above 3,000 pounds of biomass (with fiber removed)" said
The Company stores its hemp inventory for extraction and manufacturing over time, maintaining low-cost inventory levels that ensure consistent production to support a minimum two years of projected sales. The 2019 harvest is expected to support growth into 2022, guaranteeing consistency in product availability and efficacy, critical to customers that rely on Charlotte's Web™ products daily, as well as the food, drug and mass (F/D/M) retail channel that requires shelf-availability certainty.
The (F/D/M) retail channel has been awaiting regulatory certainty from the
"So, we know one thing from the American people: they're using CBD products," Hahn said. "We're not going to be able to say, 'you can't use these products,'" Hahn said. "Even if we did, it's a fool's game to try to even approach that.". But what do we need to do? We need to fill the information gaps."
"Regulatory certainty would bode well for Charlotte's Web, consumers and American farming communities,"
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Forward-Looking Information
Certain information in this news release constitutes forward-looking statements and forward-looking information (collectively, "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.
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