cbdMD Requests the Meals and Drug Administration (FDA) Take away the Drug Exclusion for CBD and Evaluation cbdMD’s In depth Security Submission

CHARLOTTE, N.C., February 22, 2022–(BUSINESS WIRE)–cbdMD, Inc. (NYSE American: YCBD, YCBDpA) (the “Firm”), one of many world’s main and most extremely trusted and acknowledged well being & wellness CBD corporations, immediately introduced that the Pure Merchandise Affiliation (NPA) filed a Citizen’s Petition on cbdMD’s behalf with the Meals and Drug Administration (FDA) requesting the FDA to take away the drug exclusion for CBD and to assessment the Firm’s intensive file of identification, security and high quality knowledge.

Eradicating the drug exclusion for CBD will obtain readability available in the market and create a stage enjoying area for all members. The ultimate end result of this course of is predicted to outcome within the capability of the Firm to submit and obtain acknowledgement for a New Dietary Ingredient Notification (NDIN). It will lastly permit the Firm to tell shoppers of the advantages of its cannabinoid merchandise and develop its gross sales in the US by opening up mass retail channels. Since passage of the Farm Invoice 2018, the FDA has not supplied any clear regulation on the CBD market. The shortage of a transparent, regulated framework has allowed an increasing pool of producers, producers and entrepreneurs to flood the market with substandard merchandise and an abundance of questionable promoting techniques. Creating and implementing industry-wide requirements would assist create a mandatory roadmap for all CBD merchandise and produce group to an {industry} that has in any other case been working with out order.

“FDA has requested for good science and stable security knowledge. We provided it to them in our pre NDI submission assembly and the FDA was excited to assessment our knowledge, however fell again on the drug exclusion. We wish them to assessment our science, which we consider incorporates the requisite research to obviously reveal the protection of our merchandise for shoppers. We wish a scientific path to market in keeping with the Dietary Complement Well being and Training Act (DSHEA), one that doesn’t bureaucratically reward corporations that aren’t placing shoppers first with security and science. Our science is so robust that we’re assured once we are given the chance to submit an NDIN we are going to obtain one other first, the primary acknowledgment letter for a NDIN for CBD,” mentioned Sibyl Swift, Ph.D., Vice President of Scientific & Regulatory Affairs for cbdMD.

For extra data on NPA’s submitting, https://www.npanational.org/information/npa-files-citizens-petition-with-fda-on-specific-cbd-relief-requests-enforcement-discretion-on-drug-exclusion-clause-for-a-single-product-to-review-premarket-notifications-of-cbd-consistent/

The Firm submitted its file of identification, high quality and security knowledge as a novel meals ingredient for the European Union (EU) Meals Security Authority (EFSA) and the UK (UK) Meals Requirements Company (FSA). The UK FSA has already begun to assessment this knowledge and EFSA is on observe to start shortly. “cbdMD is an {industry} chief with distinctive high quality and scientific requirements. We consider that our research will face up to the rigorous assessment within the EU and UK. We’re asking for the FDA to offer us the identical alternative as different authorities businesses have executed. cbdMD units the bar inside the {industry} for security and high quality. This citizen’s petition is one more instance of why cbdMD is the market chief. We stand behind our science and our high quality and stay up for the day once we are now not precluded from sharing our knowledge with our prospects,” says Martin A. Sumachrist, Chairman & co-CEO of cbdMD.

About cbdMD, Inc.

cbdMD, Inc. is without doubt one of the main and most extremely trusted and acknowledged cannabidiol (CBD) manufacturers with a complete line of U.S.-produced, THC-free1 CBD merchandise. The cbdMD model at the moment consists of over 130 SKUs of high-grade, premium CBD merchandise together with CBD tinctures, CBD gummies, CBD topicals, CBD capsules, CBD tub bombs, CBD tub salts, CBD sleep aids, CBD drink mixes and full spectrum CBD choices. Our Paw CBD model of pet merchandise consists of over 45 SKUs of veterinarian-formulated merchandise together with tinctures, chews and topical merchandise in various strengths, and our cbdMD Botanicals model of magnificence and skincare merchandise options 15 SKUs, together with facial oil and serum, toner, moisturizers, facial masks, exfoliants and physique care. To be taught extra about cbdMD and their complete line of U.S.-grown, THC-free1 CBD oil and full spectrum merchandise, please go to www.cbdmd.com, comply with cbdMD on Instagram and Fb or go to one of many 6,000 shops that carry cbdMD merchandise.

Ahead-Wanting Statements

This press launch incorporates sure forward-looking statements which can be based mostly upon present expectations and contain sure dangers and uncertainties inside the that means of the U.S. Personal Securities Litigation Reform Act of 1995. Such forward-looking statements may be recognized by means of phrases equivalent to ”ought to,” ”might,” ”intends,” ”anticipates,” ”believes,” ”estimates,” ”initiatives,” ”forecasts,” ”expects,” ”plans” and ”proposes.” These forward-looking statements are usually not ensures of future efficiency and are topic to dangers, uncertainties, and different components, a few of that are past our management and tough to foretell and will trigger precise outcomes to vary materially from these expressed or forecasted within the forward-looking statements, together with, with out limitation, statements made with respect to outcomes of critiques by the FDA, EFSA, and FSA; our capability to extend our market share; our capability to develop our enterprise and considerably enhance our revenues; our capability to successfully leverage our model partnerships and sponsorships, our capability to successfully compete in our market; and our capability to report worthwhile operations sooner or later. You’re urged to rigorously assessment and take into account any cautionary statements and different disclosures, together with the statements made underneath the heading “Threat Components” in cbdMD, Inc.’s Annual Report on Type 10-Okay for the fiscal 12 months ended September 30, 2021 as filed with the Securities and Trade Fee (the “SEC”) and our different filings with the SEC. All forward-looking statements contain vital dangers and uncertainties that would trigger precise outcomes to vary materially from these within the forward-looking statements, a lot of that are usually exterior the management of cbdMD, Inc. and are tough to foretell. cbdMD, Inc. doesn’t undertake any obligation to replace any forward-looking statements besides as could also be required by regulation. The knowledge which seems on our web sites and our social media platforms, together with, however not restricted to, Instagram and Fb, will not be a part of this press launch.

1 THC-free is outlined as under the extent of detection utilizing validated scientific strategies.

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Contacts

PR:
cbdMD, Inc.
Robert Pettway
Director of Paid Media
[email protected]
(423) 503-5225

Traders:
cbdMD, Inc.
John Weston
Director of Investor Relations
[email protected]
(704) 249-9515

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