CHARLES & COLVARD FORGES EXCLUSIVE STRATEGIC ALLIANCE WITH IGI TO SUPPLY MOISSANITE GRADING REPORTS

RESEARCH TRIANGLE PARK, N.C., May 23, 2024 /PRNewswire/ -- Charles & Colvard, Ltd. (NASDAQ:CTHR) (the "Company"), a globally recognized fine jewelry company that specializes in moissanite and lab grown diamonds, is pleased to announce an exclusive strategic alliance with the International Gemological Institute (IGI), introducing comprehensive grading reports for moissanite gemstones and jewelry.

"Not all moissanite is created equal," says Don O'Connell, President and CEO of Charles & Colvard. "The new collaboration with IGI emphasizes our commitment to maintaining brand integrity in a market increasingly saturated with false information and counterfeit products."

The grading reports, with unique identifiers tying back to each individual laser-inscribed gemstone, are designed to boost consumer confidence by providing standardized measures for loose Forever One™ moissanite gemstones, ensuring a reliable standard of quality and authenticity for purchasers.

Expert gemologists will rigorously evaluate and authenticate each moissanite gemstone and provide comprehensive certification reports detailing its quality characteristics. Consumers will recognize the standard 4Cs used in diamond grading—cut, clarity, carat, and color—in the grading report, along with Charles & Colvard moissanite-specific grading measures.

"Moissanite has long been celebrated for its brilliance and durability, but until now, consumers have not had access to moissanite gemstones with grading reports backed by an industry leader in the space. We believe our collaboration with IGI will be a significant turning point in the lab-grown industry. This strategic alliance will bring unparalleled transparency and accountability regarding the quality of moissanite gemstones. We believe our new certifications will allow consumers, retailers, and distributors to further validate the quality and value of our gems while helping to safeguard customers against misinformation and false claims made by other moissanite providers," continued O'Connell.

"This development underscores IGI's commitment to supporting our industry with detailed, accurate assessments," added Avi Levy, President of IGI North America. "It demonstrates our dedication to reinforcing consumer trust in all of the gemstone products they purchase." 

Forever One™ moissanite gemstone reports will be available exclusively to the trade beginning next week in a limited capacity for the launch. IGI will scale to meet the demand for the reports as their experts continue to grade Charles & Colvard's moissanite gemstone inventory. Later this year, consumers will also be able to purchase finished jewelry mounted with IGI-certified gemstones from Charles & Colvard.

Both companies will be exhibiting at the upcoming JCK Show, one of the largest and most trusted jewelry industry trade events, in Las Vegas, Nevada, from May 31 – June 3, 2024. Visitors can find IGI at booth #11065 and Charles & Colvard at booth #12058 in the Bridal Pavilion.

To learn more about IGI, visit www.igi.org.

About Charles & Colvard, Ltd.

Charles & Colvard, Ltd. (NASDAQ:CTHR) believes that fine jewelry should be as ethical as it is exquisite. Charles & Colvard is the original creator of lab grown moissanite (a rare gemstone formed from silicon carbide). The Company brings revolutionary gems and fine jewelry to market by using exclusively Made, not Mined™ above ground gemstones and a dedication to 100% recycled precious metals. The Company's Forever One™ moissanite and Caydia^® lab grown diamond brands provide exceptional quality, incredible value and a conscious approach to bridal, high fashion, and everyday jewelry. Charles & Colvard was founded in 1995 and is based in North Carolina's Research Triangle Park region. For more information, please visit www.charlesandcolvard.com.

About IGI

About IGI: The International Gemological Institute (IGI), a Blackstone portfolio company. IGI has 30 laboratories and 19 education facilities in major diamond and jewelry centers around the world. For close to 50 years, IGI has provided the fine jewelry community and consumers with a broad range of services including natural and laboratory-grown diamond reports, colored stone grading and origin reports, as well as jewelry identification and appraisal reports. With the increase of lab-grown diamonds in the marketplace, IGI screens millions of natural and lab-grown diamonds in order for the industry and consumers to receive the product they expect. Regardless of location or marketplace, authentic IGI Laboratory Reports are designed to empower trust and confidence among buyers and sellers alike.

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SOURCE Charles & Colvard, Ltd.