CHARLOTTES WEB HLDGS INC - CWBHF STOCK NEWS

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.

Charlotte's Web has launched new THC-Free CBD Oil Tinctures in 10 and 30 mL sizes to cater to consumers seeking THC-free options, particularly healthcare professionals and frontline workers. The tinctures, containing 25mg of CBD, are priced at $24.99 and $59.99 respectively. They are made with proprietary hemp genetics, non-GMO, vegan, and sweetened with a zero-calorie monk fruit sweetener. Available online and in retail stores by April 2021, these products highlight the company's commitment to quality and wellness, undergoing extensive testing for safety.

Charlotte's Web Holdings has entered into an Option Purchase Agreement with Stanley Brothers USA, a cannabis wellness incubator, allowing Charlotte's Web to acquire the company within five years, contingent upon certain conditions. Stanley Brothers operates in Colorado, California, and Florida and plans to expand into eight more states. The agreement involves a purchase price determined by revenue and EBITDA multiples. The Option was purchased for US$8 million. Charlotte's Web aims to strengthen its presence in the cannabis wellness market as consumer trends and laws evolve favorably.

Charlotte's Web Holdings, Inc. (CWBHF) has announced a collaboration with McLean Hospital and Harvard Medical School's Dr. Staci Gruber to conduct two clinical trials examining the efficacy of a custom-formulated, high-CBD product. Funded by CW Labs, results are expected to be published in 2022. Dr. Gruber's MIND program aims to study the long-term impact of cannabis on health. This partnership reflects Charlotte's Web's commitment to supporting third-party research in the hemp CBD sector.

Charlotte's Web Holdings, Inc. (CWBHF) has achieved B Corporation™ certification, underscoring its commitment to social and environmental performance. This certification aligns with the company's mission to benefit stakeholders, including customers and communities. Joining over 3,500 certified B Corps worldwide, Charlotte's Web formalizes its dedication to sustainability and accountability. CEO Deanie Elsner emphasized this milestone as a means to enhance their business practices from seed to shelf, promoting better outcomes for society and the environment.