Charles & Colvard (CTHR) Renews Supply Agreement w/ Cree (CREE)

February 14, 2013 5:03 PM EST
Charles & Colvard Ltd (NASDAQ: CTHR) announced that it has entered into an amended Letter Agreement with Cree, Inc. (Nasdaq: CREE) that provides for the production of new silicon carbide (SiC) raw material to be delivered quarterly until July 2015. The supply and purchase of SiC material under this amended Letter Agreement will be governed in all respects by the terms and conditions of the parties’ Amended and Restated Exclusive Supply Agreement (the “Supply Agreement”) dated June 6, 1997. Under the amended Letter Agreement, exclusivity shall remain in effect as provided in the Supply Agreement.

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