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CSE New Listing - Charlette's Web Holdings Commences Trading on the Canadian Securities Exchange - Video News Alert on InvestmentPitch.com
Vancouver, British Columbia--(Newsfile Corp. - September 4, 2018) - Charlette's Web Holdings (...
About this update from Charlotte's Web Holdings, Inc.
[{"type":"text","content":"CSE New Listing - Charlette's Web Holdings Commences Trading on the Canadian Securities Exchange - Video News Alert on InvestmentPitch.comVancouver, British Columbia--(Newsfile Corp. - September 4, 2018) - Charlette's Web Holdings (CSE: CWEB) is the latest new listing on the Canadian Securities Exchange. The company was created to indirectly acquire all the capital stock of CWB Holdings Inc.InvestmentPitch Media has produced a \"video\" which provides a brief overview of the company. If this link is not enabled, please visit www.InvestmentPitch.com and enter \"CWEB\" in the search box. Cannot view this video? Visit:http://www.investmentpitch.com/video/0_bac6ql6x/Charlettes-Web-Holdings-CSECWEB-New-ListingCWB competes in the fast-growing hemp-derived CBD supplements market. In the United States, the market is expected to grow from US$174 million in 2016 to US$1.6 billion in 2021 and management believes expansion internationally is expected to have similar growth rates.The company is a market leader in the production and distribution of hemp-based, CBD wellness products, and does not produce or sell medicinal or recreational marijuana. The company's products are made from high quality and proprietary strains of whole-plant hemp extracts produced from Industrial Hemp, which is defined as Cannabis with less than 0.3% THC, and therefore has no psychoactive effects.CWB grows its proprietary hemp on farms leased in northeastern Colorado and sources high quality hemp through contract farming operations in Kentucky and Oregon.The company's current product categories include tinctures, capsules and topical products. Charlotte's Web is the #1 brand by market share and one of the most recognized brands in the hemp-derived CBD supplements segment. Its products are distributed through its e-commerce website, select wholesalers and more than 2,700 retail locations.The company reported that its gross profit grew from US$9.6 million in 2016 to US$29.9 million in 2017, representing growth of 212% year-over-year, with gross profit for the first quarter of 2018 at US$10.5 million.The company raised gross proceeds of $115 million from the sale of approximately 16.4 million shares at $7 per share. 13.3 million shares were sold through an IPO led by Canaccord Genuity, with another 3.1 million shares sold by current shareholders.For more information, p...