Charlottes Web Holdings Inc - CWBHF stock
OTC Symbol: CWBHF | OTC Tier: OTCQX International | Related ticker symbols: TSX:CWEB
Company Profile[edit]
Charlotte's Web Holdings, Inc., [OTCQX: CWBHF] is a certified Denver-based B corporation that engages in the cultivation, manufacturing, distribution, and sale of hemp-derived cannabidiol (CBD) wellness products. The company advances its products under a portfolio of brands, including Charlotte’s Web, CBD Clinic, CBD Medic, and Harmony Hemp. The company’s product categories include full spectrum hemp extract oil tinctures (liquid products), gummies (exercise recovery, immunity, sleep, stress), capsules, CBD topical creams, lotions, and pet products. It offers the broad-spectrum CBD-certified NSF for Sport, the world’s only official CBD of Major League Baseball. Its products are distributed online through www.charlottesweb.com., its official website, and physically to over 15,000 retailers and over 8,000 healthcare practitioners nationwide.[1] The seven Stanley Brothers founded the company in 2013. It was formerly known as Stanley Brothers Holdings Inc. before changing its name to Charlotte's Web Holdings Inc. in July 2018. It is headquartered in Louisville, Colorado.[2] Charlotte's Web’s shares are listed on the TSX under the symbol "CWEB" and on OTCQX under the CWBHF stock symbol.[3]
Business Overview[edit]
Charlotte’s Web Holdings, Inc. is a certified B corporation that conducts most of its business in the United States. It carries out its production, distribution, and quality control operations at its new cGMP facility in Louisville. The company has also expanded its Research and Development activities since it moved into the facility in the second quarter of 2020. The firm established CW Labs to maximize research around the scope of Hemp-derived compounds. The lab currently engages in clinical trials on the safety of Hemp-based health remedies. Most of the firm's revenue is generated from selling branded products to consumers through its DTC e-commerce website and distributors, retail, and wholesale B2B customers. Charlotte's Web whole-plant CBD extracts are offered in full-spectrum and broad-spectrum (THC-free) varieties. Charlotte's Web-branded premium products incorporate American farm-grown proprietary hemp genetics as input. These hemp species are cultivated using organic and regenerative cultivation procedures. The extracts contain naturally occurring phytocannabinoids such as CBC, CBD, cannabigerol (CBG), flavonoids, and terpenes, amongst other significant compounds. It believes that synergistically integrating multiple compounds maximizes superior effects compared to a single compound.
On October 12, 2022, the company established a partnership with Major League Baseball (MLB) and launched Charlotte's Web SPORT, the first THC-free hemp-derived tincture to be certified for Sport by NSF. The company neither produces nor sells recreational or medicinal marijuana or products generated from high-THC cannabis plants. On March 2, 2021, the firm executed a purchase option acquisition deal for Stanley Brothers USA, a Cannabis wellness incubator. The company has also expanded its research to explore new market opportunities, with an eye on the botanical wellness products industry, which is swiftly growing. It aims to capture the botanical wellness products market by accelerating customer acquisition and retention, propelling national retail expansion, and increasing its global market penetration.[4]
Distribution[edit]
The company's CBD topical products are available in 827 Walmart stores across California, Illinois, Florida, Texas, and Pennsylvania. This marks an expansion of the company's retail distribution and presence in the CBD wellness market. The rollout aims to provide Walmart customers with access to Charlotte’s Web CBD topicals at an affordable price point.[5]
Corporate Origin[edit]
It started with Charlotte Figi, a girl diagnosed with a rare form of epilepsy. Paige, her mother, began extensive research on health alternatives, leading her to the cannabidiol (CBD) compound. Coincidentally, the Stanley Brothers were also working to develop high THC and low CBD proprietary hemp genetics. Paige contacted the Stanley brothers in 2012 for a non-psychoactive natural option for her seven-year-old daughter. The Stanley brothers were motivated to share the extracts with others after Charlotte’s response to the extract. News spread after this, leading many people and families to Colorado to search for CBD products between 2013 and 2015. After meeting the girl and other families, Dr. Sanjay Gupta (CNN) echoed the products with other media platforms following suit. The Stanley Brothers established the company Charlotte's Web to unleash the healing powers of botanicals bridged with compassion and science.[6]
Funding[edit]
Charlotte’s Web received a US$56.8 million investment in the company from a subsidiary of BAT in November, 2022. The investment provided the company with additional funds for growth initiatives, including plans to expand its botanical wellness products portfolio. The investment was made via a debenture, which is convertible into approximately 19.9% of a non-controlling equity stake in Charlotte's Web in BAT's direction.[7]
- ↑ Charlotte's Web Holdings, Inc. Company Details – CNBC News. Accessed on March 12, 2023.
- ↑ CWBHF Company Profile – Seeking Alpha. Accessed on March 12, 2023.
- ↑ Stock, Quote, & Chart – Charlotte’s Web website. Accessed on March 12, 2023.
- ↑ The Management's Discussion and Analysis of Financial Condition and Results of Operations for Charlotte’s Web Holdings, Inc./Business Overview, Pages 2,3 & 4 – Charlotte's website.
- ↑ PR Newswire. Charlotte's Web Debuts at Walmart with New CBD Topical Collection. June 26, 2024.
- ↑ CHARLOTTE’S WEB: AN ORIGIN STORY – Charlotte’s Web website.
- ↑ Charlotte's Web Announces US$56.8 Million Investment from BAT – Charlotte’s Web Press Releases. November 15, 2022.
