Business
Charlotte's Web Announces TSX Listing
Charlotte's Web Announces TSX Listing Canada NewsWire BOULDER, CO, May 29, 2019 ...
About this update from Charlotte's Web Holdings, Inc.
[{"type":"text","content":"\n\n\n\nCharlotte's Web Announces TSX Listing\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nBOULDER, CO, May 29, 2019\n\n\n\nBOULDER, CO, May 29, 2019 /CNW/ - Charlotte's Web Holdings, Inc. (\"Charlotte's Web\" or the \"Company\") (CSE:CWEB, OTCQX:CWBHF), the market leader in hemp CBD extract products, is pleased to announce that it has received conditional approval for the listing of the Company's common shares (the \"Common Shares\") on the Toronto Stock Exchange (the \"TSX\"). \n\n \n \n\n \nIt is anticipated that the Common Shares of Charlotte's Web will commence trading on the TSX effective as of market open on Friday, May 31, 2019. Upon listing on the TSX, the Common Shares will continue to trade under the symbol \"CWEB\". In conjunction with listing on the TSX, the Common Shares will be voluntarily delisted from the Canadian Securities Exchange (the \"CSE\") as at the close of trading on Thursday, May 30, 2019. \nThe Company believes that the TSX listing will increase the Company's exposure to a wider capital markets audience, increase trading liquidity, and expand access to international institutional investors and capital.\nThe move from the CSE to the TSX comes just nine months after the Company's successful IPO on August 30, 2018 and is a reflection of both the Company's continued growth and the improving regulatory environment for hemp in Canada and the United States. While Charlotte's Web previously met operational, governance and capital requirements for a TSX listing at the time of its IPO, uncertainties regarding the federal legality of hemp in the United States at the time were not clear enough to satisfy TSX listing policies. With the passing of the Agricultural Improvement Act of 2018 (also known as the 2018 Farm Bill) in December of 2018, hemp and hemp products were permanently removed from the Controlled Substances Act (CSA) and out of the jurisdiction of the Drug Enforcement Administration (DEA). Hemp became an agricultural commodity governed by the U.S. Department of Agriculture (USDA).\n\"As the market leader in hemp CBD extra...