BOULDER, CO, Aug. 21, 2019 /CNW/ - (TSX: CWEB, OTCQX:
CWBHF), Charlotte's Web Holdings, Inc.
("Charlotte's Web" or the "Company"),
the market leader in whole-plant hemp CBD extract products is
pleased to announce the results from its 2019 annual general and
special meeting of shareholders held on August 20, 2019 in New
York (the "Meeting"). Each of the matters voted
upon at the Meeting is discussed in detail in the Company's
Management Information Circular dated July
10, 2019 (the "Circular"), a copy of which is
available on the Company's SEDAR profile at www.sedar.com.
The total number of votes cast at the Meeting was 55,076,745,
representing 56.57% of the total number of votes attached to the
outstanding voting shares of the Company. According to the proxies
received, the results of the vote for the election of directors
were as follows:
Nominee
|
# Votes
For
|
% Votes
For
|
# Votes
Withheld
|
% Votes
Withheld
|
Joel
Stanley
|
40,022,399
|
98.58%
|
576,363
|
1.42%
|
Adrienne
Elsner
|
40,031,798
|
98.60%
|
566,964
|
1.40%
|
Jared
Stanley
|
40,003,600
|
98.58%
|
576,511
|
1.42%
|
John Held
|
40,557,008
|
99.90%
|
41,429
|
0.10%
|
Shane
Hoyne
|
40,557,031
|
99.90%
|
41,631
|
0.10%
|
William
West
|
40,558,444
|
99.90%
|
40,218
|
0.10%
|
The following matters detailed in the Company's Circular were
also duly approved by the requisite votes at the Meeting:
- The appointment of MNP LLP as the auditors of the Company to
hold office until the close of the next annual meeting of
shareholders of the Company.
- The resolution authorizing the amendment of the Company's
Articles and Notice of Articles with respect to stakeholder
interests and conversion to a benefit company.
- The resolution authorizing the amendment of the Company's
advance notice provisions contained in the Articles.
- The approval and adoption of the employee share purchase plan
of the Company.
Detailed results of the matters considered at the Meeting are
reported in the Report of Voting Results as filed by the Company
on sedar.com.
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About Charlotte's Web Holdings, Inc.
Charlotte's Web Holdings, Inc. is the market leader in the
production and distribution of innovative hemp-derived cannabidiol
("CBD") wellness products. Founded by the Stanley Brothers,
the Company's premium quality products start with proprietary hemp
genetics that are responsibly manufactured into hemp-derived CBD
extracts naturally containing a full spectrum of phytocannabinoids,
including CBD, terpenes, flavonoids and other beneficial hemp
compounds. Charlotte's Web product categories include CBD Oil
tinctures (liquid products), CBD capsules, CBD topicals, as well as
CBD pet products. Charlotte's Web hemp-derived CBD extracts
are sold through select distributors, brick and mortar retailers,
and online through the Company's website at www.CharlottesWeb.com.
The rate the Company pays for agricultural products reflects a fair
and sustainable rate driving higher quality yield, encouraging good
farming practices, and supporting U.S. farming communities.
Charlotte's Web is a socially conscious company and is committed
to using business as a force for good and a catalyst for
innovation. The Company weighs sound business decisions with
consideration for how its efforts affect its employees, customers,
the environment, and the communities where its employees live and
where it does business, while maximizing profits and strengthening
its brands. The Company's management believes that socially
oriented actions have a positive impact on the Company, its
employees and its shareholders. Charlotte's Web donates a portion
of its pre-tax earnings to charitable organizations.
Shares of Charlotte's Web trade on the Toronto Stock Exchange
(TSX) under the symbol "CWEB" and are quoted in U.S. Dollars in
the United States on the OTCQX
under the symbol "CWBHF". As at August
12, 2019 Charlotte's Web had 49,253,934 Common Shares
outstanding and 120,529.07 Proportional Voting Shares convertible
at 400:1, for an effective equivalent of 97,565,562 Common Shares
outstanding.
Forward-Looking Information
Certain information in this news release constitutes
forward-looking information which are not historical facts but
instead represent management's expectations, estimates and
projections regarding future events. Forward-looking
information may be materially different from those expressed or
implied by such forward-looking information, including but not
limited to the factors described in greater detail in the public
documents of the Company available at www.sedar.com.
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SOURCE Charlotte''s Web Holdings, Inc.