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Monday, October 25, 2021

Expanding Retail FootPrint; the Story of Charlotte’s Web Holdings Inc (OTCMKTS: CWBHF)

Charlotte’s Web Holdings Inc (OTCMKTS: CWBHF) is tearing up the charts in recent days as pot stocks heat up across the board. Since trading as low as $2.10 USD earlier this year the stock has been on the rise especially over the past few trading days. Microcapdaily has been reporting on Charlottes Web for years and we covered the stock when it heated up during the last pot boom!

The Company has been busy in recent months moving its warehousing and fulfillment operations into a new 137,000 sq ft facility. Charlotte’s Web recently completed a $54 million financing for expansion and working capital as the Company now has its products in well over 21,000 unique retail doors and growing.

Charlotte’s Web Holdings Inc  (CSE: CWEB; OTCQX: CWBHF) is  a  market  leader  in  the  production  and  distribution  of  innovative  hemp-based, Cannabidiol (“CBD”) wellness products. Through its vertically integrated business model, the Company strives to improve consumers’ lives  and  meet  their  demands  for  stringent  product  quality, efficacy and consistency. The Company does not produce or sell medicinal or recreational marijuana or products derived therefrom.  The Company’s hemp products are made from high quality and proprietary strains  of  whole-plant hemp extracts containing a full spectrum of phytocannabinoids, including CBD, terpenes, flavonoids and other minor  but  valuable  hemp  compounds.

The Company believes the presence of  these  various  compounds  work synergistically to heighten the effects of the products, making them superior to single-compound CBD isolates.   The Company’s hemp extracts are produced from hemp, which is defined in the 2018 Farm Bill as the plantCannabis  sativa  L.  and any  part  of  that  plant,  including  the  seeds  thereof  and  all  derivatives,   extracts, cannabinoids,  isomers,  acids,  salts,  and salts of isomers,  whether  growing  or  not,  with  a  delta-9 tetrahydrocannabinol  (“THC”)  concentration  of  not  more  than  0.3  percent  on  a  dry  weight  basis.  THC causes psychoactive effects when consumed and is typically associated with marijuana (i.e. Cannabis with high-THC content). The Company does not produce or sell medicinal or recreational marijuana or products derived from high-THC Cannabis/marijuana plants. Hemp products have no psychoactive effects. The Company grows its proprietary hemp on farms leased or owned in eastern Colorado and sources high-quality hemp through long term contract farming operations in Kentucky and Oregon.

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CWBHF

On September 14 Charlotte’s Web reported financial results for the second quarter ended June 30, 2020. All amounts are expressed in United States dollars unless otherwise noted. Certain metrics, including those expressed on an adjusted basis, are non-IFRS measures. Consolidated second quarter revenue decreased to $21.6 million, as compared to $25.0 million in 2019 partly due to COVID-19 reduced foot traffic for retailers and temporary closures. Strong DTC sales largely offset a 54.5% decrease in B2B retail sales which accounted for 28.2% of total revenue in the quarter. DTC net sales grew by 33.6% year-over-year as online traffic and high conversion rates increased through ongoing marketing and social media programs. Year-over-year new consumer acquisitions increased 25% and conversion rates increased 77%. DTC net revenue accounted for 71.8% of total revenue in the second quarter compared to 46.4% for the same period in the prior year.

Earlier this year Charlotte’s Web completed the acquisition of Abacus Health Products, Inc. (“Abacus”) in an all-stock transaction. Abacus is a leading provider of over-the-counter (“OTC”) topical products for pain relief and skincare containing CBD hemp extracts. The acquisition greatly extends Charlotte’s Web’s product offerings and reach and solidifies a commanding position in the U.S. hemp CBD topicals category. In the third quarter, Charlotte’s Web commenced implementing operating cost synergies with Abacus and will continue through the remainder of the year. Further cost synergies are targeted in 2021 through integration into the Company’s new production and fulfillment center.

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Currently running up the charts Charlotte’s Web is heating up as pot stocks once again emerge as leaders in small caps as they have during past elections cycles. Charlotte’s Web did $21.6 million in fiscal Q2, 2020 even during te covid crisis and has been busy; the Company recently its warehousing and fulfillment operations into a new 137,000 sq ft facility. Charlotte’s Web recently completed a $54 million financing for expansion and working capital as the Company now has its products in well over 21,000 unique retail doors and growing. As we enter a new pot stock Boom Charlotte’s Web is gettingnotied byy investors once again and Microcapdaily will be covering it. We will be updating on Charlotte’s Web when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with Charlotte’s Web.

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Disclosure: we hold no position in Charlotte’s Web either long or short and we have not

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