Charlotte's Web Holdings, Inc. - CWBHF STOCK NEWS

Charlotte's Web Holdings, a leader in hemp-derived CBD products, has expanded its retail presence by launching a new line of CBD topicals in over 800 Walmart locations across five states: California, Illinois, Florida, Texas, and Pennsylvania. The new collection includes a balm stick, cream, and cooling gel, each containing 1,000 mg of CBD isolate. These products are affordable, non-GMO, cruelty-free, sulfate-free, paraben-free, and formulated without major allergens. Bill Morachnick, CEO, highlighted the company's commitment to excellence and innovation in the CBD industry, aiming to provide accessible and high-quality wellness solutions to Walmart shoppers.

Charlotte's Web Holdings, a leading provider of hemp-derived CBD wellness products, has appointed Erika Lind as its new Chief Financial Officer, effective June 29, 2024. Lind replaces Jessica Saxton, who is leaving the company on June 28, 2024, to pursue other interests. Lind joined Charlotte's Web in 2023 as Vice President of Financial Planning and Analysis and Treasury. She has over two decades of executive financial leadership experience, having worked at companies like Celestial Seasonings, Orica USA, Hammond's Candies, and Spectra Logic Corp. Prior to Charlotte's Web, she was the Vice President of Finance at Made in Nature CEO Bill Morachnick expressed confidence in Lind's ability to guide the company towards profitable growth. Outgoing CFO Jessica Saxton will assist in the transition.

On June 13, 2024, Charlotte's Web held its annual general and special meeting of shareholders. A total of 62,034,339 votes were cast, representing 39.4% of the company's outstanding voting shares. All items on the agenda were approved. The election results for the board of directors showed high approval rates for all nominees, with Jonathan Atwood, Matthew McCarthy, Angela McElwee, William Morachnick, Jared Stanley, and Maureen Usifer receiving over 94% of votes each. Jared Stanley, a co-founder and former director, and Maureen Usifer, an experienced executive in the consumer products industry, were appointed to the board. Detailed results are available on the company's SEDAR profile.

Charlotte's Web reported financial results for the first quarter of 2024, showing a decrease in revenue compared to the same period in 2023. The company is focusing on its 'True North' initiatives to enhance the consumer experience, expand product offerings, and improve cost efficiencies. Despite revenue challenges in the CBD industry, the company remains optimistic about its future growth.

Charlotte's Web Holdings, Inc. announces details of its upcoming 2024 Annual General and Special Meeting of Shareholders, proposing to establish six directors and elect new nominees. The meeting will be held virtually on June 13, 2024, with shareholders able to vote online. Current directors are appreciated for their contributions, with John Held not standing for reelection. Newly proposed directors include notable industry figures. The Board aims to continue its growth trajectory through strategic appointments.

Charlotte's Web Holdings, Inc. will release its 2024 first-quarter results on May 8, 2024, followed by a conference call at 11:00 A.M. Eastern Time. Investors can join the call via phone or webcast. A replay will be available until May 15, 2024.

Charlotte's Web Holdings, Inc. reported its financial results for Q4 and year-ended December 31, 2023, focusing on True North initiative, eCommerce platform enhancements, brand consolidation, and price adjustments. The company aims to transform the consumer journey, reinforce retail partnerships, amplify its voice, and identify cost efficiencies. Despite a decrease in revenue, Charlotte's Web maintained healthy gross margins and improved operational efficiencies. The company also introduced new products like Stay Asleep CBN gummies and reduced prices on CBD oils to enhance consumer accessibility. Financially, the company reported a net loss for Q4 2023 but showed improvements in gross profit margins and SG&A expenses.

Charlotte's Web Holdings, Inc. launches 'Stay Asleep' CBN Gummies, a research-backed sleep formula to address poor sleep. The gummies are the first CBN sleep product supported by a rigorous peer-reviewed study, offering 20mg of CBN. Crafted under the leadership of Dr. Marcel Bonn-Miller, the gummies are non-GMO, gluten-free, kosher, and vegan-friendly, targeting the 67% of adults experiencing sleep disruptions. Priced at $29.99 for 30-count, $44.99 for 60-count, and $56.00 for 90-count, the gummies aim to revolutionize wellness by providing quality and uninterrupted sleep.

Charlotte's Web Holdings, Inc. will release its 2023 fourth quarter and year-end results on March 21, 2024. The market leader in CBD hemp extract products invites stakeholders to join the conference call to discuss the financial performance.