Business
Charlotte's Web to Acquire Abacus Health Products for Combined 35% Marketshare of CBD in Food/Drug/Mass Retail Channel
Charlotte's Web to Acquire Abacus Health Products for Combined 35% Marketshare of CBD in F...
About this update from Charlotte's Web Holdings, Inc.
[{"type":"text","content":"\n\n\n\nCharlotte's Web to Acquire Abacus Health Products for Combined 35% Marketshare of CBD in Food/Drug/Mass Retail Channel\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.prngen3{\nBORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; VERTICAL-ALIGN: TOP; BORDER-BOTTOM:black 0pt; TEXT-ALIGN: LEFT; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.50em\n}\n.prnsbb0{\nBORDER-BOTTOM:0pt\n}\n.prnpr6{\nPADDING-RIGHT:0.50em\n}\n.prnsbr0{\nBORDER-RIGHT:0pt\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n.prnsbl0{\nBORDER-LEFT:0pt\n}\n.prnsblb0{\nBORDER-LEFT:black 0pt\n}\n.prnrbrb0{\nBORDER-RIGHT:black 0pt\n}\n.prntal{\nTEXT-ALIGN: LEFT\n}\n.prnsbt0{\nBORDER-TOP:0pt\n}\n.prnsbtb0{\nBORDER-TOP:black 0pt\n}\n.prnvat{\nVERTICAL-ALIGN: TOP\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prnsbbs{\nBORDER-BOTTOM:black 1pt solid\n}\n.prnpl6{\nPADDING-LEFT:0.50em\n}\n\n\n\n\n\n\n\nCanada NewsWire\nBOULDER, CO, WOONSOCKET, RI and TORONTO, March 23, 2020\n\n\n\nSolidifies leadership in CBD topical and ingestible productsBolsters platform for innovation and growth Over 15,000 unique retail doors combined\n BOULDER, CO, WOONSOCKET, RI and TORONTO, March 23, 2020 /CNW/ - Charlotte's Web Holdings, Inc. (\"Charlotte's Web\" or the \"Company\") (TSX:CWEB, OTCQX:CWBHF), the world's most trusted hemp extract and market leader in hemp-derived cannabidiol (\"CBD\") wellness products, and Abacus Health Products, Inc. (\"Abacus\") (CSE:ABCS, OTCQB:ABAHF), a leader in over-the-counter (\"OTC\") topical products combining active pharmaceutical ingredients with hemp extract, are pleased to announce that they have entered into a definitive arrangement agreement (the \"Arrangement Agreement\") pursuant to which Charlotte's Web proposes to acquire all of the issued and outstanding subordinate voting shares of Abacus (the \"Abacus Shares\"), after conversion of all outstanding proportionate voting shares of Abacus into Abacus Shares (the \"Transaction\"). Under the terms of the Arrangement Agreement, shareholders of Abacus (\"Abacus Shareholders\") will receive 0.85 of a common share of Charlotte's Web (\"Charlotte's Web...