BOULDER, Colo., Aug. 10, 2020 /CNW/ - (TSX: CWEB) (OTCQX:
CWBHF) Charlotte's Web Holdings, Inc. ("Charlotte's Web" or the
"Company"), the world's most trusted hemp extract and market leader
in hemp-derived cannabidiol ("CBD") wellness products, will report
its second quarter results on September 14,
2020 before the open of trading on the Toronto Stock
Exchange. A conference call to discuss the results is scheduled for
the same day at 8:30 a.m. Eastern
Time.
Charlotte's Web CEO Deanie
Elsner, CFO Russ Hammer and
Director of Investor Relations Cory
Pala, will host the conference call, followed by a question
and answer period. To participate in the call, please dial
1-647-427-7450 or 1-888-231-8191 approximately 10 minutes before
the conference call.
Earnings Call Replay
A recording of the call will be available through September 24, 2020. To listen to a replay
of the earnings call please dial 1-416-849-0833 and provide
conference ID 4570749. A webcast of the call will also be
accessible through the investor relations section of the
Charlotte's Web website.
Q2-2020 Reporting Extension Period
Circumstances related to the COVID-19 pandemic have resulted in
the Company requiring additional time to complete the Company's
Q2-2020 filing.
The Company is relying on the temporary 45-day extension to the
filing deadline granted by the Ontario Securities Commission in
response to COVID-19 pursuant to Ontario Instrument 51-505 -
Temporary Exemption from Certain Corporate Finance
Requirements with Deadlines during the Period from
June 2 to August 31, 2020
("Instrument 51-505"), and similar extension periods
provided for by the Canadian Securities Administrators in the other
provinces of Canada, for filing
and delivery of its financial statements comprising its interim
financial report and related management's discussion and analysis
for the Company's second quarter ended June
30, 2020.
In accordance with the terms of the temporary relief provisions,
until the second quarter results are reported, members of
Charlotte's Web management and certain other insiders are subject
to a trading black-out period pursuant to the Company's Insider
Trading Policy and reflecting the principles in section 9 of
National Policy 11-207 Failure to-File Cease Trade Orders and
Revocations in Multiple Jurisdictions.
The Company confirms that, other than as disclosed in prior
press releases, regulatory filings or on the Company's website,
there have been no additional material business developments since
the filing on May 14, 2020 of the
Company's interim financial report for the first quarter ended
March 31, 2020.
About Charlotte's Web Holdings, Inc.
Charlotte's Web Holdings, Inc., headquartered in Boulder, Colo., is the market leader in the
production and distribution of innovative hemp-derived cannabidiol
("CBD") wellness products. The Company was founded by the Stanley
Brothers with a mission to unleash the healing powers of botanicals
with compassion and science, benefitting the planet and all who
live upon it. The Company's premium quality products start with
proprietary hemp genetics that are 100-percent American farm grown
and 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, more than 21,000 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 regenerative farming practices,
and supporting U.S. farming communities.
Charlotte's Web Holdings, Inc. is a socially and environmentally
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 diverse communities,
while maximizing profits and strengthening its brands which include
Charlotte's Web™, CBD Medic™, CBD Clinic™, and Harmony Hemp. The Company's management believes
that its socially oriented actions have a positive impact on the
Company, its employees and its shareholders.
Forward-Looking Information
Certain information in this news release constitutes
forward-looking statements and forward-looking information
(collectively, "forward-looking information"). In some cases, but
not necessarily in all cases, forward looking information can be
identified by the use of forward-looking terminology such as
"plans", "targets", "expects" or "does not expect", "is expected",
"an opportunity exists", "is positioned", "estimates", "intends",
"assumes", "anticipates" or "does not anticipate" or "believes", or
variations of such words and phrases or state that certain
actions, events or results "may", "could", "would", "might", "will"
or "will be taken", "occur" or "be achieved". In addition, any
statements that refer to expectations, projections or other
characterizations of future events or circumstances contain
forward-looking information.
Statements containing forward-looking information are not
historical facts but instead represent management's current
expectations, estimates and projections regarding the future of
our business, future plans, strategies, projections, anticipated
events and trends, the economy and other future conditions.
Forward-looking information is necessarily based on a number of
opinions, assumptions and estimates that, while considered
reasonable by the Company as of the date of this news release, are
subject to known and unknown risks, uncertainties, assumptions and
other factors that may cause the actual results, level of activity,
performance or achievements to be materially different from those
expressed or implied by such forward-looking information.
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SOURCE Charlotte's Web Holdings, Inc.