Charles & Colvard Announces New Exclusive Innovation That Produces a Whiter & Brighter Moissanite Gemstone Direct from the Source…
Charles
& Colvard, Ltd. (NASDAQ Global Select Market: CTHR), the sole
manufacturer of created moissanite gemstones, The Most Brilliant
Jewel in the World®, is excited to announce a new
exclusive innovation in moissanite gemstone production. Cree, Inc. has
developed a technological advancement in the organic growth of silicon
carbide crystals that results in such improved natural whiteness that no
treatment, enhancement, or other whitening process is needed in order
for Charles & Colvard to produce a dazzling gemstone that will be sold
under its trademark, FOREVER BRILLIANT®. As a result of this
development, Charles & Colvard and Serenity Technologies, Inc. have
agreed to terminate their agreement pursuant to which Serenity had
previously provided Charles & Colvard with a whitening process for its
gemstones. Charles & Colvard expects to continue to use Serenity, on a
non-exclusive basis, as a provider of fancy color treatment for some of
its gemstones.
“Innovation remains a driving force for Charles & Colvard’s long-term
strategy. We continue to introduce new, exciting, and innovative
products like our improved premier brand of Charles & Colvard Created
Moissanite®, FOREVER BRILLIANT®, gemstones with
optical properties that are remarkably whiter and brighter than ever
before,” stated Randy N. McCullough, Chief Executive Officer of Charles
& Colvard, Ltd. “The results are amazing and I’m sure consumers will be
astonished at this recent improvement of our FOREVER BRILLIANT®
moissanite gemstone in 2013. The refraction and scintillation are off
the charts, providing a brilliance that surpasses anything we’ve seen
before in our moissanite gemstones.”
Charles & Colvard Created Moissanite®
Made of silicon carbide (SiC) and exhibiting overall properties that are
close to that of diamonds but with nearly 2.5 times the fire of diamond,
moissanite’s superior brilliance, luster, and optical properties rival
even the highest quality diamonds. Created moissanite gemstones possess
the quality, value, and resilience of fine diamonds while offering much
more affordable price points. Charles & Colvard also markets its
exclusive trademarked brand of whiter moissanite gemstones – FOREVER
BRILLIANT®.
Limited Lifetime Warranty and Certificate of Authenticity
Charles & Colvard is committed to ensuring the quality and longevity of
FOREVER BRILLIANT® gems. Each gemstone is accompanied by a
Charles & Colvard certification and laser inscribed on the girdle for
easy identification. FOREVER BRILLIANT® moissanite gemstones
carry the same Limited Lifetime Warranty as all other Charles & Colvard
Created Moissanite® gemstones for maintaining their optical
property of brilliance. An enhancement or other treatment by any party
other than Charles & Colvard to a Charles & ColvardCreated
Moissanite® gemstone voids the warranty.
About Charles & Colvard, Ltd.
Charles & Colvard, Ltd., based in the Research Triangle Park area of
North Carolina, is the global sole source of moissanite, a unique,
near-colorless created gemstone that is distinct from other gemstones
and jewels based on its exceptional fire, brilliance, luster,
durability, and rarity. Charles & Colvard Created Moissanite®
and Forever Brilliant® are currently
incorporated into fine jewelry sold through domestic and international
retailers and other sales channels. Charles & Colvard, Ltd. is
headquartered in Morrisville, North Carolina, and its common stock is
listed on the NASDAQ Global Select Market under the symbol “CTHR.” For
more information, please visit www.charlesandcolvard.com.
This press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended.
Statements expressing expectations regarding our future and projections
relating to products, sales, revenues, and earnings are typical of such
statements and are made under the Private Securities Litigation Reform
Act of 1995. These forward-looking statements include, but are not
limited to, statements about our plans, objectives, representations, and
contentions and are not historical facts and typically are identified by
use of terms such as “may,” “will,” “should,” “could,” “expect,” “plan,”
“anticipate,” “believe,” “estimate,” “predict,” “continue,” and similar
words, although some forward-looking statements are expressed
differently.
All forward-looking statements are subject to the risks and
uncertainties inherent in predicting the future. You should be aware
that although the forward-looking statements included herein represent
management’s current judgment and expectations, our actual results may
differ materially from those projected, stated, or implied in these
forward-looking statements as a result of many factors including, but
not limited to, our dependence on consumer acceptance and growth of
sales of our products resulting from our strategic initiatives;
dependence on a limited number of customers; our ability to fulfill
orders on a timely basis; the financial condition of our major
customers; dependence on Cree, Inc. as the sole current supplier of the
raw material; our current wholesale customers’ potential perception of
us as a competitor in the finished jewelry business; intense competition
in the worldwide jewelry industry; general economic and market
conditions, including the current economic environment; risks of
conducting business in foreign countries; the pricing of precious
metals, which is beyond our control; the potential impact of seasonality
on our business; our ability to protect our intellectual property; the
risk of a failure of our information technology infrastructure to
protect confidential information and prevent security breaches; possible
adverse effects of governmental regulation and oversight; and the
failure to evaluate and integrate strategic opportunities, in addition
to the other risks and uncertainties described in our filings with the
Securities and Exchange Commission, or the SEC, including our Annual
Report on Form 10-K for the fiscal year ended December 31, 2012 and
subsequent reports filed with the SEC. Forward-looking statements
speak only as of the date they are made. We undertake no obligation to
update or revise such statements to reflect new circumstances or
unanticipated events as they occur except as required by the federal
securities laws, and you are urged to review and consider disclosures
that we make in the reports that we file with the SEC that discuss other
factors relevant to our business.
