CBD brands faced financial headwinds in 2020 2020 was a brutal year for many CBD brands, based on their financial results, yet sales in the broader category continued to grow.
A hemp-based CBD industry that was once searing hot hit the skids in 2020 amid cutthroat competition, regulatory uncertainty and a global pandemic that disrupted retail operations.
The financial results of many public companies selling CBD were dismal, especially when contrasted with several years of heady growth.
“2020 proved to be a very challenging year for the company and our industry, predominantly due to the impact of COVID-19,” CV Sciences Inc. CEO Joseph Dowling acknowledged in a fourth-quarter earnings call with analysts. “The year-long COVID-19 pandemic created significant headwinds for our retail customers, intensified competitive pressures and extended the regulatory uncertainty.”
April 20, 2021 at 7:57 am Published by NCV Newswire
Charlotte’s Web added to Health Canada’s List of Approved Cultivars (LOAC) for Cultivation in 2021
BOULDER, Colo., April 20, 2021 /PRNewswire/ – Charlotte’s Web Holdings, Inc. (“Charlotte’s Web” or the “Company”) (TSX: CWEB) (OTCQX: CWBHF), a certified B Corporation and the market leader in hemp CBD extract products, today announced that three of its proprietary hemp cultivars were approved for registration on Health Canada’s List of Approved Cultivars (“LOAC”) for outdoor cultivation in Canada. These are among the first hemp CBD cultivars on the LOAC that are early flowering and early maturing for outdoor cultivation and harvesting within the shorter Canadian growing season. The approved cultivars include the Company’s original “CW1AS1” U.S. patented genetics, clearing the way for Charlotte’s Web to cultivate its leading CBD wellness products in Canada in 2021. Currently, Charlotte’s W
BOULDER Canada has listed three of Charlotte’s Web Holdings Inc.’s (TSX: CWEB) (OTCQX: CWBHF) proprietary hemp cultivars as approved for outdoor cultivation in the country, according to a CW news release.
Charlotte’s Web Products are not easily available in Canada because laws do not allow for bulk importing of U.S.-grown hemp CBD or related products into Canada, the release said.
But that will soon change as CW is able to cultivate using the recently approved early-flowering and early-maturing cannabis strains during Canada’s shorter growing season.
“We aspire to be the world’s leading botanicals wellness company, entering countries with an asset light model where federal laws permit hemp extracts for health and wellness. Israel and Canada are included in the first steps of our international expansion,” Charlotte’s Web CEO Deanie Elsner said in the release.
Charlotte s Web Secures Health Canada Approval to Bring its Proprietary CBD Cultivars to Canada
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Charlotte s Web added to Health Canada s List of Approved Cultivars (LOAC) for Cultivation in 2021
BOULDER, Colo., April 20, 2021 /CNW/ - Charlotte s Web Holdings, Inc. (
Charlotte
s Web or the
Company ) (TSX: CWEB) (OTCQX: CWBHF), a certified B Corporation and the market leader in hemp CBD extract products, today announced that three of its proprietary hemp cultivars were approved for registration on Health Canada s List of Approved Cultivars (
LOAC ) for outdoor cultivation in Canada. These are among the first hemp CBD cultivars on the LOAC that are early flowering and early maturing for outdoor cultivation and harvesting within the shorter Canadian growing season. The approved cultivars include the Company s original CW1AS1 U.S. patented genetics, clearing the way for Charlotte s Web to cultivate its leading
Charlotte s Web Secures Health Canada Approval to Bring its Proprietary CBD Cultivars to Canada prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.