Charlotte’s Web Holdings Inc (OTCMKTS: CWBHF) has announced that it will expand product distribution in California following the state passing Assembly Bill 45 (AB 45) on October 6. The law allows cannabis businesses to sell products with cannabidiol such as pet products, over-the-counter products, topical, and dietary supplements.
Because of the new law, Charlotte’s Web expects retailers in California to accept products from the company or increase their shipments. The company has many national retail partners who operate stores in over 1000 California locations.
Cecilia Aguiar-Curry played a role in the passing of the bill
According to Deanie Elsner, the CEO of Charlotte’s Web, the bill will benefit various people, such as customers who want high-quality hemp-derived products, retailers and farmers. The passing of the law has been made possible by Aguiar-Curry, an assembly member who worked tirelessly to legalize hemp-derived cannabidiol.
The assembly member Cecilia Aguiar-Curry adds that her team is grateful for the retailers, manufacturers, public health, and consumer groups who showed support for the bill in the three years that it took to make it pass. Aguiar-Curry’s main goal was to ensure consumers got legal and safe products rather than unregulated products. The move will also allow manufacturers, retailers, and farmers to be part of the market, increasing jobs and economic growth for the state.
Hemp in California was legalized in 2018
The state previously legalized hemp farming using the 2018 Farm Bill. However, it did not offer legislation for the national supply chain or federal preemption. For this reason, retailers, manufactures, and farmers were highly limited in growth.
Elsner adds that the law draws attention to the need for the federal regulation of Hemp-derived cannabidiol from congress. Charlotte’s Web will continue to support and give resources to ensure measures that enable a credible and safe industry, such as the House of Representative Bill 841, are considered.
The company, which was formerly known as Stanley Brothers Holdings Inc, changed its name in 2018. It is a certified B coolant with its headquarters in Denver, Colorado. Charlotte’s Web develops whole-plant hemp-based supplements inform of pet products, topical, gummies, capsules, and tinctures.
Charlotte’s Web sells its products brands such as Harmony Hemp, CBD Clinic, CBD Medic, and Charlotte’s Web.
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