CHARLOTTES WEB HLDGS INC - CWBHF STOCK NEWS

Charlotte's Web Holdings, Inc. (CWBHF) appointed Jade Proudman, CEO of Savage Cabbage, as Global Brand Ambassador. Proudman has built a strong reputation in the UK’s CBD market, serving over 9,000 customers in 44 countries. In comments, she emphasizes the transformative impact of Charlotte's Web products on health. The partnership aims to expand market presence in Europe, aligning with Charlotte's Web's commitment to quality and reliability. The company remains a leading provider of hemp extract wellness products and is recognized for its high-quality offerings.

Charlotte's Web Holdings, the market leader in full spectrum hemp extract products, announced a national distribution deal with GNC, enhancing its retail presence in the U.S. Initial shipments of six varieties of Charlotte's Web Gummies will be available in GNC locations across 24 states, with plans for further expansion. CEO Jacques Tortoroli emphasized that GNC's extensive reach will significantly broaden consumer access to their premium hemp CBD offerings, which include formulations for Sleep, Calm, Recovery, Immunity, Daily Wellness, and THC-Free options.

Charlotte's Web Holdings, Inc. (CWBHF) has completed a reorganization aimed at enhancing agility and growth as it prepares to launch new products and enter new markets. The changes follow a leadership update on December 16, 2021. The company aims to return to positive cash flow in 2022 by reducing costs and aligning compensation with equity growth. It has shifted to a horizontal structure to boost collaboration and decision-making. With a market share of approximately $3B, Charlotte's Web plans to leverage recent regulatory changes to drive revenue and expand its presence in both domestic and international markets.

Charlotte's Web Holdings announces significant leadership changes, appointing Jacques Tortoroli as CEO, replacing Deanie Elsner. Tortoroli, formerly of Bacardi, brings over 40 years of global executive experience, focusing on product innovation and customer relationships. Wes Booysen becomes Chief Financial & Operating Officer, while Jared Stanley is now Chief Cultivation and Innovation Officer. This strategic reorganization aims to leverage Tortoroli's expertise to enhance domestic and international growth opportunities.

Charlotte's Web Holdings has appointed Jacques Tortoroli, former Chief Administrative Officer of Bacardi Ltd., as the new Chief Executive Officer, replacing Deanie Elsner. This transition aims to leverage Tortoroli's extensive 40-year global executive experience, particularly in e-commerce, finance, and strategic partnerships. Additionally, Wes Booysen is now the Chief Financial & Operating Officer, and Jared Stanley has expanded his role to Chief Cultivation and Innovation Officer. Charlotte's Web focuses on growth and innovation, with plans to enhance its international market presence.

Charlotte's Web Holdings, Inc. (CWBHF) reported Q3-2021 net revenue of $23.7 million, down 5.8% from $25.2 million in Q3-2020. Gummy sales rose to 30% of revenue, while tinctures dropped to 37%. Gross profit increased to $14.9 million, yielding a gross margin of 62.9%. Operating expenses decreased by 15.6%, and adjusted EBITDA improved to a loss of $2.8 million. The company improved its cash position to $21.1 million, with significant progress in business-to-business and direct-to-consumer revenue. Supply chain disruptions hindered overall revenue growth, though recovery is anticipated in Q4-2021.

Charlotte's Web Holdings announced the successful completion of its first international hemp harvest in Canada, using its proprietary hemp cultivars. The 2021 crop exceeded expectations by 20% and is set to supply the Canadian market in 2022. The CW1AS1 cultivar, vital for their Original Formula, will prioritize medical cannabis patients. The company aims to leverage its strong brand presence and strategic partnerships for distribution in Canada, focusing on a largely untapped hemp CBD market. This expansion may open doors for international sales of hemp biomass and extracts.

Charlotte's Web Holdings has launched two new oral sprays: Calm Spray and Sleep Spray, formulated with CBG and CBN to help manage stress and support sleep. Each 10mL spray costs $49.99 and contains proprietary THC-free hemp extract along with beneficial botanicals. The Calm Spray supports relaxation, while the Sleep Spray aids sleep cycles. Available exclusively on the e-commerce site initially, the products will be released nationwide in 2022. Vice President Reed Damon emphasized a faster go-to-market strategy and rigorous safety standards for these innovative products.