Thanks to the passage of Assembly Bill 45 (AB 45) in California, the Golden State’s cannabis market is about to become much more flexible. Charlotte’s Web Holdings didn’t waste any time taking advantage of the new rules, announcing yesterday that it is ready to introduce full spectrum hemp extract products.
AB 45 allows the retail sale of products that contain hemp-derived cannabidiol (CBD), including topicals, over-the-counter options, dietary supplements and even pet products. Charlotte’s Web is going to start seeing more activity in the state as a result, as its national network of retailer partners will begin to request more of the company’s solutions. That retail network consists of more than 1,000 locations in California, providing Charlotte’s Web with an immediate and steady flow of activity.
Deanie Elsner, Charlotte’s Web’s CEO, said in a statement, “AB 45 is a big win for Californians seeking wider access to the benefits of safe, high-quality hemp dietary supplements, the retailers who want to sell them, and the farmers and manufacturers who make and ship them. We appreciate Assembly member Aguiar-Curry and her staff who have worked extensively bring oversight to Hemp CBD products in the state.”
The 2018 Farm Bill legalized hemp farming and manufacturing, but it didn’t include federal preemption or regulation of the nationwide hemp supply chain. This has resulted in a patchwork of state-level requirements that constrict hemp growers, manufacturers and retailers, and hampers the industry from realizing its full potential.
California Assemblywoman Cecilia Aguiar-Curry added, “I want to thank Charlotte’s Web and our coalition of advocates – from consumer and public health groups to manufacturers to retailers – who stuck with us through this three-year fight. The ability to offer safe, legal wellness products to Californians, as opposed to the completely unregulated products currently being sold, was my first priority in writing these bills.”