CHARLOTTES WEB HLDGS INC - CWBHF STOCK NEWS

Charlotte's Web Holdings Inc. has appointed Tim Saunders to its Board of Directors, enhancing its governance and financial oversight. Saunders, former CFO of Canopy Growth, brings extensive experience, having managed over C$6.4 billion in financings and 31 acquisitions. He is expected to strengthen the company's expansion efforts into Canada, Israel, Europe, and the U.K. His broad insight into global markets will assist in navigating regulatory challenges as the company seeks growth in hemp and cannabis sectors.

Charlotte's Web Holdings, Inc. (CWBHF) announced the appointment of Wessel Booysen as Chief Financial Officer (CFO) on June 15, 2021. Booysen, a former executive at Molson Coors, brings over a decade of experience in finance and international expansion, helping to drive the company’s growth plans. He has a proven track record in the Asia Pacific and Africa regions, where he achieved double-digit growth. Outgoing CFO Russ Hammer will assist in a transition period before his retirement in August 2021.

Charlotte's Web Holdings (CWBHF) announced a collaboration with the University of Colorado-Boulder's REACH Center for a preclinical study on the effects of CBD and CBN on anxiety and sleep. This research aims to provide scientific validation for the benefits of full-spectrum hemp formulations, addressing the limited data on cannabinoids other than CBD and THC. The study is expected to enhance understanding of how specific ratios of cannabinoids can improve sleep quality and is backed by significant research funding.

Charlotte's Web Holdings (CWBHF) reported a 9.1% increase in Q1 2021 revenue, totaling $23.4 million, driven by a 14.5% rise in DTC eCommerce sales. Gross profit decreased to 58.4% of revenue, reflecting a shift in product mix. B2B sales declined by 1.4%, but retail sales showed a 11% increase when excluding certain services. The company holds $35 million in cash and has expanded its market share. Adjusted EBITDA loss narrowed to $4.7 million, but operating expenses rose 2.9%. A forward-looking purchase agreement for the Stanley Brothers cannabis business was secured pending legalization.

On May 5, 2021, Charlotte's Web (CWBHF) announced a partnership with U.S. soccer star Carli Lloyd. Following her knee surgery, Lloyd turned to CBDMEDIC products for pain relief, becoming an advocate for hemp-derived CBD's benefits for athletes. The partnership highlights Lloyd's personal recovery story, including products like Active Sport Pain Relief Ointment and Arthritis Aches and Pain Relief Cream. This announcement comes just before the Summer Games, where CBD is no longer banned, potentially boosting the brand's visibility among athletes.

Charlotte's Web Holdings announced the approval of three of its proprietary hemp cultivars for outdoor cultivation in Canada by Health Canada. This marks a significant step for the company as its CW1AS1 variety, among others, will enable the cultivation of CBD products within Canada's shorter growing season. Currently, CBD products from the U.S. face import restrictions into Canada. The approved cultivars aim to address the underdeveloped hemp CBD market in Canada, potentially opening access to Charlotte's Web products and expanding its growth opportunities.

Charlotte's Web Holdings (OTCQX: CWBHF) successfully resolved its trademark infringement claims against AAXLL Supply Co LLC, affirming its rights to the CHARLOTTE'S WEB trademark. The U.S. District Court ruled in favor of Charlotte's Web, validating the trademark's enforceability and preventing AAXLL from using it in CBD product advertising. CEO Deanie Elsner emphasized the importance of protecting their intellectual property. This outcome strengthens Charlotte's Web’s market position in the hemp CBD wellness sector.

Charlotte's Web Holdings, Inc. (CWBHF) reported a 17.9% revenue increase to $26.9 million for Q4 2020, driven by a 21.2% rise in Direct-to-Consumer eCommerce sales. Total net revenue for 2020 was $95.2 million, slightly above 2019's $94.6 million. The company faced challenges with a 29.5% decline in B2B sales due to COVID-19. Gross profit for Q4 was $16.8 million (62.2% of revenue). However, the adjusted EBITDA loss narrowed to $2.1 million from $6.7 million in Q3. Charlotte's Web increased distribution significantly and completed the acquisition of Abacus Health to enhance its product offerings.

Charlotte's Web Holdings, Inc. (CWBHF) announced results from a Validcare study confirming no liver toxicity in 839 adult participants ingesting their CBD products. Conducted over seven months, the study aimed to provide scientific data requested by the FDA regarding CBD safety. Researchers found zero instances of liver toxicity, reinforcing Charlotte's Web's commitment to safety and regulatory compliance. The study involved adult CBD users who had previously consumed CBD for at least 30 days. The findings bolster consumer trust and support the company’s industry leadership.