CHARLOTTES WEB HLDGS INC - CWBHF STOCK NEWS

Charlotte's Web Holdings has appointed Jessica Saxton as the new Chief Financial Officer (CFO), effective January 1, 2023. Saxton brings extensive financial expertise from leading firms such as Anheuser-Busch InBev and General Motors. Outgoing CFO Greg Gould will transition with Saxton before his departure at the end of 2022. CEO Jacques Tortoroli expressed gratitude to Gould for steering the company during a crucial phase, including completing a $57 million financing and streamlining operations, paving the way for future growth initiatives.

Charlotte's Web Holdings, a leader in hemp CBD products, has appointed Alicia Morga to its Board of Directors. Morga, founder of No. 8 Media, Inc., brings extensive digital marketing and e-commerce experience. She replaces Jean Birch, who is retiring. Morga's background includes managing digital products and venture capital roles, enhancing the company's focus on e-commerce strategies. The Chairman, John Held, expressed excitement about her contribution towards digital transformation for the business.

Charlotte's Web Holdings (CWBHF) announced a US$56.8 million investment from a subsidiary of BAT (BTI) through a convertible debenture. This investment allows for a 19.9% non-controlling equity stake in Charlotte's Web and is aimed at funding growth initiatives and enhancing R&D capabilities. The additional capital will boost Charlotte's Web's pro-forma cash to approximately US$65 million. The terms include a 5% annual interest rate, reducing to 1.5% under certain conditions, and allows BAT to nominate board members while holding a significant stake.

Charlotte's Web Holdings (CWBHF) announced Q3 2022 results, reporting a net revenue of $17.0 million, down 28.1% from $23.7 million in Q3 2021. Direct-to-consumer e-commerce net revenue also fell by 22.5% to $11.8 million. However, operating expenses dropped 38%, contributing to a reduced operating loss of $3.9 million, improving by 58.3% year-over-year. The firm's strategic partnerships, including with Major League Baseball, aim to enhance brand recognition and market penetration. Cash reserves stood at $16.5 million at quarter-end.

Charlotte's Web Holdings, Inc. (CWBHF) announced that its CEO Jacques Tortoroli and COO Jared Stanley will present at the Jefferies London Healthcare Conference from November 15-17, 2022. The key presentation is scheduled for November 16 from 5:00-5:30 PM GMT, focusing on natural wellness in sport and the company's new sports product line. The executives will also address regulatory progress in the U.K. and U.S. Following the session, one-on-one meetings will be held on the 16th and 17th. Investors can join a live webcast and access a replay of the presentation for 60 days.

On November 10, 2022, Charlotte's Web Holdings announced a new distribution agreement with Stark Foods International, enhancing its presence in the European specialty food and beauty market. Stark Foods, known for its extensive reach across nearly 15,000 retail locations in the U.S., aims to introduce Charlotte's Web's premium CBD products to new consumer bases, particularly in the high-value New York Tri-State area. This partnership will leverage Stark's reputation for curated European products and Charlotte's Web's market leadership in hemp extract wellness.

Charlotte's Web Holdings, Inc. has rescheduled its Q3-2022 financial results release to 5:00 PM EST on November 14, 2022, followed by a conference call on November 15, 2022, at 10:00 AM EST. Stakeholders can participate via phone or a live webcast. The call will be accessible for replay until November 22, 2022. The adjustments are due to unexpected scheduling conflicts. Charlotte's Web remains the market leader in hemp extract wellness products, emphasizing quality and innovation in its offerings.

Charlotte's Web Holdings and Tilray Brands have formed a strategic alliance to manufacture and distribute Charlotte's Web CBD products across Canada. This partnership enables the availability of full-spectrum CBD products nationwide, addressing specific wellness needs for Canadians, who previously accessed these products only through special medical exemptions. Expected product launches include oil tinctures, gummies, and topicals in early 2023. The collaboration aims to leverage Tilray's established infrastructure for distribution and enhance market access for Charlotte's Web's trusted hemp extract products.

Charlotte's Web Holdings, Inc. (CWBHF) will release its third-quarter financial results on November 9, 2022. An earnings conference call is set for the same day at 11:00 a.m. Eastern Time. Participants can join by dialing 1-416-764-8659 or 1-888-664-6392, using confirmation number 24797121, or via live webcast. A replay will be available until November 16, 2022.