Charlie's Holdings Announces Uplisting to the OTCQB

Rhea-AI Summary

Charlie's Holdings, Inc. (OTCQB:CHUC) announced its uplisting from the OTC Pink Market to the more prestigious OTCQB Venture Market, effective August 3, 2021. This shift enhances the company's visibility and credibility in capital markets. Charlie's aims to appeal to a broader investor base and move closer to uplisting on a national exchange. The company is also navigating the FDA's Premarket Tobacco Application process and has projected revenue growth for 2021. Improved financials and compliance with OTCQB standards signify a positive trajectory for the company.

Positive

• Successful uplisting to the OTCQB Venture Market improves visibility and credibility.
• Projected revenue growth for 2021 indicates positive financial outlook.
• Meeting OTCQB requirements positions the company closer to uplisting on a national exchange.

Negative

• None.

COSTA MEAS, CA / ACCESSWIRE / August 2, 2021 / Charlie's Holdings, Inc. (OTCQB:CHUC) ("Charlie's" or the "Company"), an industry leader in both the premium, nicotine-based, e-cigarette space and the hemp-derived CBD wellness space, today announced its successful uplisting from the OTC Pink Market to the OTCQB^® Venture Market (the "OTCQB") effective Tuesday, August 3, 2021. Charlie's will continue to trade under the ticker symbol "CHUC".

The OTCQB, operated by OTC Markets Group Inc., is designed for developing and entrepreneurial companies. The OTCQB is recognized by the United States Securities and Exchange Commission as an established public market providing public information for analysis and valuation of securities. OTCQB companies must be current in their financial reporting and must undergo an annual verification and management certification process, including meeting a minimum bid price and other financial conditions. With more compliance and quality standards, the OTCQB provides investors improved visibility to enhance trading decisions.

"Uplisting to the OTCQB is another important milestone for Charlie's. We believe this achievement will significantly improve our capital markets appeal to a broader range of investors… and meeting all of the heightened requirements and criteria of the OTCQB will bring us one step closer to our longer term objective of uplisting to a national exchange," explained Matt Montesano, Charlie's Chief Financial Officer.

"With a Premarket Tobacco Application ("PMTA") in Substantive Review with the FDA, revenues that are projected to grow through the rest of 2021, and a significantly improved balance sheet, Charlie's has made great progress this year. Now, we are thrilled to be able to trade on a higher-tier market," explained Charlie's Chief Operating Officer Ryan Stump. "As our momentum builds, the additional capital markets exposure afforded by our OTCQB listing will be invaluable. We believe that Charlie's is well on its way to emerging as America's #1 premium, nicotine-based e-cigarette company!"

About Charlie's Holdings, Inc.

Charlie's Holdings, Inc. (OTCQB: CHUC) is an industry leader in the premium, nicotine-based, vapor products space and the hemp-derived CBD wellness market. The Company's products are sold around the world to select distributors, specialty retailers, and third-party online resellers through subsidiary companies Charlie's Chalk Dust, LLC and Don Polly, LLC. Charlie's Chalk Dust, LLC has developed an extensive portfolio of brand styles, flavor profiles, and innovative product formats. Don Polly, LLC creates innovative wellness products and brands in the hemp-derived CBD marketplace.

For additional information, please visit our corporate website at: CharliesHoldings.com and our branded online websites: CharliesChalkDust.com and PachamamaCBD.com.

Safe Harbor Statement

This press release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to statements regarding the Company's overall business, existing and anticipated markets and expectations regarding future sales and expenses. Words such as "expect," "anticipate," "should," "believe," "target," "project," "goals," "estimate," "potential," "predict," "may," "will," "could," "intend," variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond the Company's control. The Company's actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to: the Company's ongoing ability to quote its shares on the OTCQB; whether the Company will meet the requirements to uplist onto a national exchange in the future; the Company's ability to successful increase sales and enter new markets; whether the Company's PMTA will be approved by the FDA, and the FDA's decisions with respect to the Company's future PMTAs; the Company's ability to manufacture and produce product for its customers; the Company's ability to formulate new products; the acceptance of existing and future products; the complexity, expense and time associated with compliance with government rules and regulations affecting nicotine and products containing cannabidiol; litigation risks from the use of the Company's products; risks of government regulations; the impact of competitive products; and the Company's ability to maintain and enhance its brand, as well as other risk factors included in the Company's most recent quarterly report on Form 10-Q, annual report on Form 10-K, and other SEC filings. These forward-looking statements are made as of the date of this press release and were based on current expectations, estimates, forecasts and projections as well as the beliefs and assumptions of management. Except as required by law, the Company undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in its expectations.

Investors Contact:
IR@charliesholdings.com
Phone: 949-570-0691

SOURCE: Charlie's Holdings, Inc.

View source version on accesswire.com:
https://www.accesswire.com/658016/Charlies-Holdings-Announces-Uplisting-to-the-OTCQB

FAQ

What does the uplisting to OTCQB mean for Charlie's Holdings (CHUC)?

The uplisting to OTCQB enhances Charlie's Holdings' credibility and visibility to investors, providing improved market access.

When will Charlie's Holdings start trading on the OTCQB?

Charlie's Holdings will begin trading on the OTCQB effective August 3, 2021.

What are the benefits of being listed on the OTCQB for CHUC?

OTCQB provides better visibility, capital market exposure, and requires compliance with stringent financial reporting standards.

How is Charlie's Holdings performing financially in 2021?

The company projects growth in revenues throughout 2021, indicating a positive financial trajectory.

What is the significance of the PMTA in relation to Charlie's Holdings?

Charlie's Holdings has a Premarket Tobacco Application under review with the FDA, which is crucial for its e-cigarette products.