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Charlotte's Web Comments on Letter from Joel and Jesse Stanley
Charlotte's Web Comments on Letter from Joel and Jesse Stanley Canada NewsWire ...
About this update from Charlotte's Web Holdings, Inc.
[{"type":"text","content":"\n \n \n \n Charlotte's Web Comments on Letter from Joel and Jesse Stanley\n \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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n The Board of Directors, as well as Institutional Shareholder Services (\"ISS\") and Glass Lewis and ‎Co., LLC (\"Glass Lewis\"), recommend that shareholders vote \"FOR\" ‎each of the Company's ‎nominees for election to the Board at the upcoming Annual Meeting.\n \n \n \n \n \n LOUISVILLE, Colo.\n \n \n ,\n \n \n June 13, 2023\n \n \n /CNW/ - (TSX: CWEB) (OTCQX: CWBHF), Charlotte's Web Holdings, Inc. ‎‎(\"Charlotte's Web\" or the \"Company\"), the market leader in full spectrum hemp extract wellness ‎products, comments on certain demands made to the Company's Board of Directors (the \"Board\") by ‎Joel and\n \n Jesse Stanley\n \n (\"Joel and Jesse\") in connection with the Company's upcoming\n \n June 15, 2023\n \n annual ‎general shareholder meeting (the \"Meeting\")‎.\n \n \n Late afternoon on\n \n Friday, June 9, 2023\n \n , Joel and Jesse delivered a letter to the Board (the \"Letter\") ‎demanding that the Board take immediate steps to facilitate the replacement of a majority of Board ‎members, including all but one of the independent Board members (the \"Targeted Directors\") with ‎four individuals selected by Joel and Jesse.  Two of the four individuals proffered were Joel and Jesse ‎themselves and one of the individuals is their long-standing business associate. The Letter provided that the Board acquiesce to their demands within 48 hours of receipt of the Letter. ‎\n \n \n Both the Letter, and a subsequent press release issued by Joel and Jesse on\n \n June 12, 2023\n \n , advise that ‎they have communicated with certain Company shareholders in an effort to reconstitute the Board. The Letter demanded that the Board waive the application of the Company's advance ‎notice by-laws, which are designed to ensure that the Corporate Governance and Nominating &...