Business
Charlotte's Web Positions to Enter US Cannabis Wellness Market
Charlotte's Web Positions to Enter US Cannabis Wellness Market Canada NewsWire ...
About this update from Charlotte's Web Holdings, Inc.
[{"type":"text","content":"\n \n \n \n Charlotte's Web Positions to Enter US Cannabis Wellness Market\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 \n Charlotte's\n \n Web secures Option to purchase\n \n Stanley Brothers'\n \n cannabis business\n \n \n \n \n BOULDER, Colo.\n \n ,\n \n March 3, 2021\n \n /CNW/ -\n \n \n \n Charlotte's\n \n Web Holdings, Inc. (\"\n \n \n Charlotte\n \n \n \n '\n \n \n s Web\n \n \", \"\n \n CW\n \n \" or the \"\n \n Company\n \n \") (TSX: CWEB) (OTCQX: CWBHF), the market leader in full-spectrum\n \n hemp CBD extract products\n \n , announces that it has entered into an Option Purchase Agreement (the \"\n \n Option\n \n \") with Stanley Brothers\n \n USA\n \n Holdings, Inc. (\"\n \n Stanley Brothers\n \n USA\n \n \n \"), a privately-held\n \n Delaware\n \n company, and the shareholders of Stanley Brothers\n \n USA\n \n . Stanley Brothers\n \n USA\n \n is a cannabis wellness incubator currently operating in three states (\n \n Colorado\n \n ,\n \n California\n \n ,\n \n Florida\n \n ) with expansion plans underway in eight additional states. The Option has a five-year term (extendable for an additional two years) and provides\n \n Charlotte's\n \n Web the optionality to acquire Stanley Brothers\n \n USA\n \n on the earlier of three years from the effective date of the Option and federal legalization of cannabis in\n \n the United States\n \n , or such earlier time as Stanley Brothers\n \n USA\n \n and\n \n Charlotte's\n \n Web may agree (the \"\n \n Triggering Event\n \n \") potentially including when otherwise permitted by the policies of the stock exchange on which the Company's securities are listed for trading. The common shares of Charlotte's Web continue to trade on the TSX in\n \n Canada\n \n and OTCQX in the US.\n \n \n \n \n \n \n \n \n \n \"Consumer attitudes, market trends, and laws surrounding cannabis and its role within the wellness category continue to trend positively. This strategic Option provides\n \n Charlotte's\n \n Web optionality to enter the...