Charles & Colvard announces the opening of a wholesale gemstone distribution center in Panyu, China

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RESEARCH TRIANGLE PARK, North Carolina, November 3, 2021 / PRNewswire / – Charles & Colvard, Ltd. (Nasdaq: CTHR) (the “Company”), a world-renowned jewelry company specializing in laboratory-created gemstones, today announced the official opening of a Charles & Colvard wholesale distribution center in Panyu , Guangdong, China. This new distribution center allows the Company to expand its global brand presence and showcase its Forever OneMT moissanite gemstones in an organized manner.

(PRNewsfoto / Charles & Colvard, Ltd.)

“The official opening of a wholesale distribution center in Panyu, Guangdong, china during the pre-seasonal Panyu District Jewelry Show, highlights the importance of nurturing the presence of the Charles & Colvard brand internationally, ”said Don O’Connell, President and CEO of Charles & Colvard. “We believe the wholesale distribution center will expand the company’s reach as a global authority on moissanite gemstones.”

“This space, which will allow retailers to purchase Charles & Colvard moissanite gemstones in bulk, allows retailers to China fine jewelry market to see, touch and smell our Forever OneMT moissanite gemstones in person. We believe that allowing our retailers to experience the brilliance of our products firsthand is the key to elevating the Charles & Colvard house brand and the Forever One product brand and distinguishing our products from others available in the market, by particular in the Asia Pacific region, ”concluded Mr. O’Connell.

About Charles & Colvard, Ltd.

Charles & Colvard, Ltd. (Nasdaq: CTHR) believes that fine jewelry can be accessible, beautiful and conscientious. Charles & Colvard is the original pioneer of lab-created moissanite, a rare gemstone formed from silicon carbide. Company Brings Ground-breaking Gemstones and Jewelry to Market with Forever One heydayMT moissanite brand and its premium Caydia® lab grown diamond mark. Consumers seek Charles & Colvard fashion, bridal and luxury jewelry because of its exceptional quality, incredible value, and shared beliefs in environmental and social responsibility. Charles & Colvard was founded in 1995 and is based in that of North Carolina Research Triangle Park. For more information, please visit www.charlesandcolvard.com.

Forward-looking statements

This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) and reflects judgment and expectations of the Company as of the date of this press release. These forward-looking statements are subject to a number of risks and uncertainties, some of which cannot be predicted or quantified and are beyond the control of the Company, including, but not limited to (1) our business, our financial condition and results of operations may continue to be affected by an ongoing COVID-19 pandemic and related global economic conditions; (2) future financial performance is dependent on increased consumer acceptance, growth in sales of our products and operational execution of our strategic initiatives; (3) our business and results of operations could be materially adversely affected by general and economic conditions; (4) we face intense competition in the global gemstone and jewelry industry; (5) our current customers may potentially perceive us as a competitor in the finished jewelry industry; (6) we are subject to certain risks due to our international operations, distribution channels and suppliers; (7) we are currently dependent on a limited number of distributors and retail partners in our traditional segment for the sale of our products; (8) government regulation and supervision could negatively impact our operations; (9) the execution of our business plans could have a significant impact on our liquidity; (10) the financial difficulties or insolvency of one or more of our major customers or their lack of willingness and ability to market our products could adversely affect results; and (11) if we fail to assess, implement and successfully integrate strategic acquisition or disposal opportunities, our business may suffer, in addition to the risks and uncertainties described in documents filed by the Company with the United States Securities and Exchange Commission (the “SEC”), including our annual report on Form 10-K for the year ended June 30, 2021 and subsequent reports filed with the SEC. Forward-looking statements speak only as of the date on which they are made. Future developments and actual results could differ materially from those stated, contemplated or underlying forward-looking statements. In light of these risks and uncertainties, there can be no assurance that forward-looking information will prove to be accurate. The Company assumes no obligation to update or revise these forward-looking statements to reflect new circumstances or unforeseen events as they occur, except as required by federal securities laws, and you are urged to review and consider the disclosures that the Company makes in the reports that it files with the SEC for information on other factors relevant to our business. Statements in this press release expressing the Company’s future expectations, projections, plans and objectives with respect to our products, sales, income and profits are typical of such statements and are made under Private Law. Securities Litigation Reform Act of 1995.

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SOURCE Charles & Colvard, Ltd.


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