Charles & Colvard to Debut New Asscher Cut and Expanded Collection of Forever One Moissanite at JCK Las Vegas, June 3-6

Charles & Colvard Created Moissanite® Gemstone Kits to Be
Available in Booth B57004

MORRISVILLE, N.C.–(BUSINESS WIRE)–Charles
& Colvard, Ltd.
 (NASDAQ:CTHR), the original and leading
worldwide source of moissanite, today announced the debut of its
expanded collection of Forever One™ moissanite at JCK Las Vegas, taking
place June 3-6, 2016 at the Mandalay Bay Resort and Casino. In addition
to the current collection, the company will showcase the new Forever One
Asscher cut moissanite gemstone along with a broader assortment of size
offerings in existing Forever One round and cushion cuts. Charles &
Colvard will now offer five shapes in Forever One moissanite: Asscher,
cushion, oval, round and square brilliant.

JCK Las Vegas is the leading jewelry event in North America, showcasing
the latest awe-inspiring designers and sought-after trends. Charles &
Colvard will exhibit in the bridal section (Bayside Level 1), booth
B57004. For the first time, the company will sell gemstone kits at its
booth, which will be available in three configurations. These kits will
offer independent jewelers an economical way to present moissanite
gemstones to their customers as a brilliant option for engagement rings
and other fine jewelry.

Suzanne Miglucci, President and CEO of Charles & Colvard, said, “I
believe the new shape and sizes of Forever One will be met with
enthusiasm since demand for this colorless moissanite continues to grow.
I am confident our customers are going to be happy with the new options
we are presenting at JCK. These popular cuts and sizes will fill the
void in the market for brilliant gemstones that offer today’s consumer
affordable luxury.”

The new Asscher cut will be available in two size options exclusively in
Charles & Colvard’s premier line of Forever One, which is the company’s
first line of moissanite with a D-E-F color range. Moissanite offers 2.4
times the fire of diamond and more brilliance than any gem on earth.
This conflict-free, socially conscious created gemstone has seen a surge
in popularity as the consumer’s desire for value and ethical standards
rise.

Each Charles & Colvard Created Moissanite gemstone comes with a
Certificate of Authenticity and a Limited Lifetime Warranty from Charles
& Colvard. Laser inscriptions are engraved on Forever One and Forever
Brilliant® gemstones attesting that each gemstone meets the highest
standards of Charles & Colvard’s quality specifications. As natural
moissanite’s origins come from meteorites, found only in minute
quantities on earth, Charles & Colvard Created Moissanite manufacturing
process mimics nature, as each crystal is grown slowly, subjecting it to
tremendous heat and pressure for days until a precious crystal of
moissanite takes shape (as such, moissanite can withstand temperatures
that would dissolve a diamond). Each stone is cut and polished by master
craftsmen, then only the stones with the best clarity are chosen to
become one of the Charles & Colvard Forever Family.

Loose stones featuring the new Asscher cut, as well as existing shapes,
will be available to distributors and jewelers through Charles &
Colvard’s wholesale division, as well as to customers through Charles &
Colvard’s ecommerce site www.moissanite.com.
New jewelry designs featuring the Asscher cut will be available in the
coming months.

For more information on Charles & Colvard Created Moissanite, please
visit www.charlesandcolvard.com.

About Charles & Colvard, Ltd.

Charles & Colvard, Ltd., based in Morrisville, NC, is the world’s only
source of Forever Classic, Forever Brilliant, and Forever One moissanite
gemstones, which surpasses the fire and brilliance of diamonds.
Moissanite is a unique gemstone, available in three color grades
(colorless, near-colorless, and faint color), and created from silicon
carbide (SiC) crystals for fine jewelry. Charles & Colvard Created
Moissanite is sold with a Certificate of Authenticity and Warranties for
gemstones and jewelry to wholesale distributors, manufacturers,
retailers, TV shopping networks, and designers as loose stones or set in
a wide variety of quality metal setting options. Charles & Colvard, Ltd.
also sells direct to consumers through its wholly owned and operated
subsidiary Moissanite.com,
LLC. Charles & Colvard, Ltd.’s common stock is listed on the NASDAQ
Global Select Market under the symbol “CTHR.” For more information,
please visit www.charlesandcolvard.com.

Forward-Looking Statement

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; the impact of the execution
of our business plans on our liquidity; our ability to fulfill orders on
a timely basis; the financial condition of our major customers and their
willingness and ability to market our products; dependence on Cree, Inc.
as the sole supplier of the raw material; intense competition in the
worldwide jewelry industry; our ability to successfully manage the
transition of our President and Chief Executive Officer and other
organizational change; our ability to meet the continued listing
requirements of The Nasdaq Stock Market LLC; our current wholesale
customers’ potential perception of us as a competitor in the finished
jewelry business; quality control challenges from time to time that can
result in lost revenue and harm to our brands and reputation; 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; our ability to maintain and utilize
e-commerce platforms for our sales strategy; the failure to evaluate and
integrate strategic opportunities; possible adverse effects of
governmental regulation and oversight; and the impact of anti-takeover
provisions included in our charter documents, 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, 2015 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.

Contacts

Charles & Colvard, Ltd.
Sarah O’Dea, 919-468-0399
sodea@charlesandcolvard.com
or
Investor
Relations:
Taglich Brothers, Inc.
Christopher Schreiber,
212-661-6886