Charles & Colvard Announces New Exclusive Innovation That Produces a Whiter & Brighter Moissanite Gemstone Direct from the Source… Business Wire MORRISVILLE, N.C. -- April 18, 2013 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 & Colvard ^ Created 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 Section27A of the Securities Act of 1933, as amended, and Section21E 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. Contact: Charles & Colvard, Ltd. Timothy Krist Chief Financial Officer 919-468-0399, ext. 295 email@example.com or Investor Relations: Christopher Schreiber Taglich Brothers, Inc. Investor Relations Counsel 800-383-8464 firstname.lastname@example.org
Charles & Colvard Announces New Exclusive Innovation That Produces a Whiter & Brighter Moissanite Gemstone Direct from the
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