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Charlotte's Web Reports 2023 Third Quarter Financial Results

Retrieved on: 
Thursday, November 9, 2023
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New CEO Reinvigorates Organizational Focus and Strategic Discipline; Washington D.C. Making Headway on Federal CBD Regulatory Framework

Key Points: 
  • New CEO Reinvigorates Organizational Focus and Strategic Discipline; Washington D.C. Making Headway on Federal CBD Regulatory Framework
    LOUISVILLE, Colo., Nov. 9, 2023 /PRNewswire/ - (TSX: CWEB) (OTCQX: CWBHF), Charlotte's Web Holdings, Inc. ("Charlotte's Web" or the "Company"), the market leader in full spectrum hemp extract wellness products, today reported financial results for the third quarter ended September 30, 2023.
  • On September 13, 2023, Charlotte's Web appointed Bill Morachnick, Chief Executive Officer of the Company.
  • "Since I joined Charlotte's Web in the late third quarter, I have been truly impressed by the talent, passion, and scientific expertise within the company," stated Bill Morachnick, the CEO of Charlotte's Web.
  • In early 2023, Charlotte's Web initiated a plan to move the production of topical products in-house.

Charlotte's Web Appoints Jessica Saxton as Chief Financial Officer

Retrieved on: 
Monday, December 19, 2022
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DENVER, Dec. 19, 2022 /PRNewswire/ - Charlotte's Web Holdings, Inc. ("Charlotte's Web" or the "Company") (TSX: CWEB) (OTCQX: CWBHF), the market leader in hemp CBD extract products, is pleased to announce that Jessica Saxton has joined the Company as Chief Financial Officer (CFO) effective January 1, 2023.

Key Points: 
  • DENVER, Dec. 19, 2022 /PRNewswire/ - Charlotte's Web Holdings, Inc. ("Charlotte's Web" or the "Company") (TSX: CWEB) (OTCQX: CWBHF), the market leader in hemp CBD extract products, is pleased to announce that Jessica Saxton has joined the Company as Chief Financial Officer (CFO) effective January 1, 2023.
  • Ms. Saxton will transition with outgoing Chief Financial Officer, Greg Gould, ahead of his departure at the end of 2022.
  • "We are grateful to Greg for serving as CFO during a pivotal time, including completing the transition to SEC reporting and streamlining operations.," said Jacques Tortoroli, Chief Executive Officer of Charlotte's Web.
  • Ms. Saxton also brings small company experience, most recently as Chief Financial Officer for EverGrain Ingredients, which aims to revolutionize sustainable ingredients including non-GMO natural plant compounds.

Charlotte's Web Appoints Digital Marketing Executive, Alicia Morga, to Board of Directors

Retrieved on: 
Wednesday, December 7, 2022
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Ms. Morga brings extensive digital marketing and e-commerce experience to the board and is the founder and Chief Executive Officer of No.

Key Points: 
  • Ms. Morga brings extensive digital marketing and e-commerce experience to the board and is the founder and Chief Executive Officer of No.
  • 8 Media, Inc., which was established in 2016 and provides digital transformation services to consumer packaged goods, health, education, and financial technology companies.
  • Ms. Morga is also an adjunct professor of Digital Marketing for the University of San Francisco and teaches online and in person digital marketing courses for enterprises.
  • "We are excited to welcome Alicia and her extensive experience in digital marketing, as the Company brings a sharp focus on its E-commerce experience in the coming year," said John Held, Chairman of Charlotte's Web.

Charlotte's Web Announces US$56.8 Million Investment from BAT

Retrieved on: 
Tuesday, November 15, 2022
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The Investment provides substantial liquidity at an attractive cost of capital for Charlotte's Web.

Key Points: 
  • The Investment provides substantial liquidity at an attractive cost of capital for Charlotte's Web.
  • Upon closing of this investment, Charlotte's Web will have pro-forma cash and short-term investments of approximately US$65 million.
  • The Investment was made by BAT's subscription for an unsecured convertible debenture issued by Charlotte's Web (the "Debenture") in the principal amount of C$75.3 million due November 14, 2029.
  • Concurrently with entering into the Debenture, BAT and Charlotte's Web entered into an investor rights agreement (the "IRA").

Charlotte's Web to Present at Jefferies London Healthcare Conference

Retrieved on: 
Monday, November 14, 2022
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DENVER, Nov. 14, 2022 /PRNewswire/ - (TSX: CWEB) (OTCQX: CWBHF) Charlotte's Web Holdings, Inc. ("Charlotte's Web" or the "Company"), the market leader in cannabidiol (CBD) hemp extract wellness products , today announced that the Company's Chief Executive Officer, Jacques Tortoroli, and Chief Operating Officer, Jared Stanley, will present at the Jefferies London Healthcare Conference taking place from November 15-17, 2022.

Key Points: 
  • DENVER, Nov. 14, 2022 /PRNewswire/ - (TSX: CWEB) (OTCQX: CWBHF) Charlotte's Web Holdings, Inc. ("Charlotte's Web" or the "Company"), the market leader in cannabidiol (CBD) hemp extract wellness products , today announced that the Company's Chief Executive Officer, Jacques Tortoroli, and Chief Operating Officer, Jared Stanley, will present at the Jefferies London Healthcare Conference taking place from November 15-17, 2022.
  • "Charlotte's Web Sport Daily Edge" broad spectrum oil tincture is the first and only broad spectrum CBD oil to be certified NSF for Sport.
  • Charlotte's Web was named the "Official CBD of Major League Baseball" on October 12, 2022.
  • Charlotte's Web branded premium quality products start with proprietary hemp genetics that are American farm-grown using organic and regenerative cultivation practices.

Charlotte's Web Signs European Specialty Distributor Stark Foods International

Retrieved on: 
Thursday, November 10, 2022
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DENVER, Nov. 10, 2022 /PRNewswire/ -(TSX:CWEB, OTCQX:CWBHF) Charlotte's Web Holdings, Inc. ("Charlotte's Web" or the "Company"), the market leader in cannabidiol ("CBD") hemp extract wellness products , is pleased to announce a new distribution agreement with Stark Foods International, a distributor of European specialty food and beauty products to grocery and retail.

Key Points: 
  • DENVER, Nov. 10, 2022 /PRNewswire/ -(TSX:CWEB, OTCQX:CWBHF) Charlotte's Web Holdings, Inc. ("Charlotte's Web" or the "Company"), the market leader in cannabidiol ("CBD") hemp extract wellness products , is pleased to announce a new distribution agreement with Stark Foods International, a distributor of European specialty food and beauty products to grocery and retail.
  • Additionally, Stark Foods distributes to specialty independent retail and specialty channels which are not generally served by mainstream distributors.
  • In total, Stark Foods reaches nearly 15,000 doors through its multi-broker network.
  • "Stark is a well-respected distribution partner with particular strength in curated European products, where Charlotte's Web has the opportunity to significantly increase its awareness to new groups of consumers ," said Jacques Tortoroli, Chief Executive Officer of Charlotte's Web.

Charlotte's Web Reschedules Q3-2022 Earnings Call and Webcast Date

Retrieved on: 
Monday, November 7, 2022
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Charlotte's Web will issue its Q3-2022 financial results at 5:00pm Eastern Standard Time November 14, 2022.

Key Points: 
  • Charlotte's Web will issue its Q3-2022 financial results at 5:00pm Eastern Standard Time November 14, 2022.
  • To listen to a replay of the earnings call please dial 1-416-764-8677 or 1-888-390-0541 and provide conference replay ID 797121.
  • A webcast of the call will also be accessible through the investor relations section of the Company's website for an extended period of time.
  • Charlotte's Web Holdings, Inc., a Certified B Corporation headquartered in Denver, is the market leader in innovative hemp extract wellness products.

Tilray Brands and Charlotte’s Web Announce Strategic Alliance in Canada

Retrieved on: 
Wednesday, November 2, 2022
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Partnering with Charlottes Web, the market leading CBD brand, opens new opportunities for Tilray Brands in Canada as we evolve our distribution channels from the dispensary model to natural wellness retail channels and eventually mass retail opportunities.

Key Points: 
  • Partnering with Charlottes Web, the market leading CBD brand, opens new opportunities for Tilray Brands in Canada as we evolve our distribution channels from the dispensary model to natural wellness retail channels and eventually mass retail opportunities.
  • We look forward to launching Charlottes Webs trusted, certified, and tested products across Canada in 2023. said Blair MacNeil, President, Canada at Tilray.
  • Charlottes Web is thrilled to be partnering with Tilray Brands, a respected global category captain.
  • Charlotte's Web Holdings, Inc., a Certified B Corporation headquartered in Denver, is the market leader in innovative hemp extract wellness products under a family of brands that includes Charlotte's Web, CBD Medic, and CBD Clinic.

Charlotte's Web Enters Strategic Alliance with Tilray for Manufacturing and Distribution in Canada

Retrieved on: 
Wednesday, November 2, 2022
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Hemp-derived CBD falls under the same regulatory framework in Canada as cannabis; and therefore, Charlotte's Web will be available through traditional Canadian cannabis sales channels.

Key Points: 
  • Hemp-derived CBD falls under the same regulatory framework in Canada as cannabis; and therefore, Charlotte's Web will be available through traditional Canadian cannabis sales channels.
  • Establishing Charlotte's Web's supply chain and distribution in Canada also prepares for the contemplated introduction of new natural health products regulations and potential ability to sell CBD products through traditional pharmacies in Canada.
  • We are grateful for the meaningful collaboration with Health Canada and Tilray to make Charlotte's WebTM products available for all Canadians."
  • Quality and manufacturing by Tilray will follow the same proprietary methods and specifications Charlotte's Web employs in the USA.

Charlotte's Web Q3-2022 Earnings Call and Webcast Notice

Retrieved on: 
Friday, October 28, 2022
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To listen to a replay of the earnings call please dial 1-416-764-8677 or 1-888-390-0541 and provide conference replay ID 797121.

Key Points: 
  • To listen to a replay of the earnings call please dial 1-416-764-8677 or 1-888-390-0541 and provide conference replay ID 797121.
  • A webcast of the call will also be accessible through the investor relations section of the Company's website for an extended period of time.
  • Charlotte's Web Holdings, Inc., a Certified B Corporation headquartered in Denver, is the market leader in innovative hemp extract wellness products under a family of brands that includes Charlotte's Web, CBD Medic, and CBD Clinic.
  • Charlotte's Web branded premium quality products start with proprietary hemp genetics that are American farm-grown-grown using organic and regenerative cultivation practices.