Bringing Financial
Experience in CPG Markets
DENVER, Dec. 19,
2022 /PRNewswire/ - Charlotte's Web Holdings, Inc.
("Charlotte's Web" or the "Company") (TSX: CWEB) (OTCQX: CWBHF),
the market leader in hemp CBD extract products, is pleased to
announce that Jessica Saxton has
joined the Company as Chief Financial Officer (CFO) effective
January 1, 2023. Ms. Saxton has held
senior finance positions with some of America's leading companies
including Anheuser-Busch InBev, General Motors, and Owens Corning.
She has a successful track record in developing business strategies
to drive growth and will be part of the senior management team to
execute the next phase of the Company's growth plans. Ms. Saxton
will transition with outgoing Chief Financial Officer, Greg Gould, ahead of his departure at the end of
2022.
"We are grateful to Greg for serving as CFO during a
pivotal time, including completing the transition to SEC reporting
and streamlining operations.," said Jacques
Tortoroli, Chief Executive Officer of Charlotte's Web. "The
actions taken in 2022, including rightsizing our costs, and
successfully completing a $57 million
financing, have strengthened the foundation for our new
partnerships and growth initiatives. We are confident in Jessica's
ability to continue driving the business forward."
During her time with Anheuser-Busch InBev, Ms. Saxton
has supported the Company's strategy, performance management,
treasury, and financial planning. Earlier in her career she
supported M&A and other strategic initiatives for publicly
listed global companies.
Ms. Saxton also brings small company experience, most recently
as Chief Financial Officer for EverGrain Ingredients, which aims to
revolutionize sustainable ingredients including non-GMO natural
plant compounds. This experience, along with building high
performing finance teams and leveraging technology to drive process
efficiencies and insights, is well-suited for Charlotte's Web
mission-driven culture joining our Leadership Team as we move
forward with our strategic priorities.
About Charlotte's Web Holdings,
Inc.
Charlotte's Web Holdings, Inc., a Certified B Corporation
headquartered in Denver, is the
market leader in innovative hemp extract wellness products under a
family of brands that includes Charlotte's Web™, CBD Medic™, and
CBD Clinic™. Charlotte's Web whole-plant CBD extracts come in
full-spectrum and broad-spectrum (THC-free) options, including the
world's only broad-spectrum CBD certified NSF for Sport®, which is
the official CBD of Major League Baseball©. Founded by the seven
Stanley Brothers, ignited the CBD
industry when they came to global prominence with the coverage of a
young girl's astounding reaction to their hemp extract. Their
advocacy changed laws, public perception, and research around the
vast health potential of plant-based solutions. The Stanleys built
their business with the mission to bring safe, botanical options to
health seekers worldwide. Charlotte's Web branded premium quality
products start with proprietary hemp genetics that are American
farm-grown using organic and regenerative cultivation practices.
The Company's hemp extracts have naturally occurring botanical
compounds including cannabidiol ("CBD"), CBC, CBG, terpenes,
flavonoids, and other beneficial compounds. The Company's CW Labs
R&D division advances hemp science at a center of excellence in
Louisville, Colorado. Charlotte's
Web product categories include CBD oil tinctures (liquid products)
CBD gummies (sleep, stress, exercise recovery), CBD capsules, CBD
topical creams and lotions, as well as CBD pet products for dogs.
Through its vertically integrated business model, Charlotte's Web
maintains stringent control over product quality and consistency
with 20+ product lot testing for quality assurance. Charlotte's Web
products are distributed to more than 15,000 retailer locations,
over 8,000 health care practitioners, and online through the
Company's website at www.charlottesweb.com.
© Major League Baseball trademarks and copyrights are used with
permission of Major League Baseball. Visit MLB.com.
Forward-Looking
Information
Certain information in this news release constitutes
forward-looking statements and forward-looking information within
the meaning of applicable securities laws (collectively,
"forward-looking information"). In some cases, but not
necessarily in all cases, forward looking information can be
identified by the use of forward-looking terminology such as
"plans", "targets", "expects" or "does not expect", "is expected",
"an opportunity exists", "is positioned", "estimates", "intends",
"assumes", "anticipates" or "does not anticipate" or "believes", or
variations of such words and phrases or state that certain
actions, events or results "may", "could", "would", "might", "will"
or "will be taken", "occur" or "be achieved". In addition, any
statements that refer to expectations, projections or other
characterizations of future events or circumstances contain
forward-looking information.
Statements containing forward-looking information are not
historical facts, but instead represent management's current
expectations, estimates and projections regarding the future of
our business, future plans, strategies, projections, anticipated
events and trends, the economy and other future conditions.
Forward-looking information is necessarily based on a number of
opinions, assumptions and estimates that, while considered
reasonable by the Company as of the date of this news release, are
subject to known and unknown risks, uncertainties, assumptions and
other factors that may cause the actual results, level of activity,
performance or achievements to be materially different from those
expressed or implied by such statements containing forward-looking
information. Although these statements containing forward-looking
information are based on assumptions the Company considers to be
reasonable based on the information available on the date such
statements are made, such statements are not guarantees of future
performance and readers are cautioned against placing undue
reliance on forward-looking information.
The material factors and assumptions used to develop the
forward-looking information herein include, but are not limited to,
international and political considerations; regulatory changes;
and the factors discussed throughout the "Risk Factors" section of
the Company's most recently filed annual information form available
on www.SEDAR.com and in the Company's most
recently filed Annual Report on Form 10-K and quarterly report on
Form 10-Q as amended, and other filings with the Securities and
Exchange Commission available on www.SEC.gov. Except
as required by applicable securities laws, the Company undertakes
no obligation to publicly update any forward-looking information,
whether written or oral, that may be made from time to time,
whether as a result of new information, future developments or
otherwise.
Charlotte's Web Holdings, Inc.
THE WORLD'S MOST
TRUSTED HEMP EXTRACT™
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SOURCE Charlotte's Web Holdings, Inc.