Charlotte's Web Announces Shareholder Meeting Voting Results and Board Changes

BOULDER, Colo., Sept. 4, 2020 /CNW/ - (TSX: CWEB) (OTCQX: CWBHF) Charlotte's Web Holdings, Inc. ("Charlotte's Web" or the "Company"), the market leader in whole-plant hemp CBD extract products, is pleased to announce the results from its 2020 annual general meeting of shareholders held on September 3, 2020 via live audio webcast (the "Meeting"). Each of the matters voted upon at the Meeting is discussed in detail in the Company's Management Information Circular dated July 23, 2020, a copy of which is available on the Company's SEDAR profile at www.sedar.com. 

The total number of votes cast at the Meeting was 91,620,372, representing 66.01% of the total number of votes attached to the outstanding voting shares of the Company. According to the proxies received, the results of the vote for the election of directors were as follows:

Nominee		# Votes For		% Votes For		# Votes Withheld		% Votes Withheld
Joel Stanley		55,511,560		95.43		2,658,443		4.57
Adrienne Elsner		56,375,386		96.91		1,794,617		3.09
Jared Stanley		53,740,720		92.39		4,429,283		7.61
John Held		53,515,438		92.00		4,654,565		8.00
Jacques Tortoroli		53,518,604		92.00		4,651,399		8.00
Jean Birch		53,718,368		92.35		4,451,635		7.65
Susan Vogt		53,699,226		92.31		4,470,777		7.69

Detailed results of the matters considered at the Meeting are reported in the Report of Voting Results as filed by the Company on sedar.com.

Lead director John Held has been appointed as board Chairman for the Company, taking over the position from Company co-founder Joel Stanley who remains a director. 

"John has been an incredible asset to this board and a pleasure to serve with over these last two years," stated Mr. Stanley. "I and the rest of the Stanley Brothers are pleased to transition the board lead to John and have confidence that his experience prior to and with the Company will make him an excellent Chairman."

Susan Vogt is a new member appointed to the Company's board of directors at the Meeting.  Ms. Vogt has more than thirty-five years' experience in the global life science research, pharmaceutical, biotech and clinical diagnostics markets, most recently as the Chief Executive Officer of venture-backed Aushon BioSystems, a life science and diagnostics tools company enabling the discovery and use of protein biomarkers for the diagnosis and treatment of complex diseases. Aushon BioSystems was acquired by Quanterix in 2018.  Prior to joining Aushon, she led the turnaround of SeraCare Life Sciences as President and CEO. There she successfully re-listed the company on NASDAQ and returned the company to profitability. Prior to that, Ms. Vogt held numerous senior level positions at Millipore Corporation, including Corporate Officer and President of the BioPharmaceutical Division.

Ms. Vogt has served on the board of directors and advisory boards of a number of other private and publicly held companies, including UK-based TAP BioSystems, and Belfast-based Andor Technologies, and currently serves on the Board of Anika Therapeutics (NASDAQ:ANIK) and Sharps Compliance (NASDAQ:SMED).  Ms. Vogt received her M.B.A. from Boston University and a B.A. degree from Brown University.

Ms. Vogt, who will serve as a member of the Company's Corporate Governance and Nominating Committee, and the Audit Committee, brings the total number of Directors on the Charlotte's Web board to seven.  

About Charlotte's Web Holdings, Inc.

Charlotte's Web Holdings, Inc., headquartered in Boulder, Colo., is the market leader in the production and distribution of innovative hemp-derived cannabidiol ("CBD") wellness products. The Company was founded by the Stanley Brothers with a mission to unleash the healing powers of botanicals with compassion and science, benefitting the planet and all who live upon it. The Company's premium quality products start with proprietary hemp genetics that are 100-percent American farm grown and responsibly manufactured into hemp-derived CBD extracts naturally containing a full spectrum of phytocannabinoids, including CBD, terpenes, flavonoids and other beneficial hemp compounds.  Charlotte's Web product categories include CBD Oil tinctures (liquid products), CBD capsules, CBD topicals, as well as CBD pet products.  Charlotte's Web hemp-derived CBD extracts are sold through select distributors, more than 21,000 brick and mortar retailers, and online through the Company's website at www.CharlottesWeb.com.

The rate the Company pays for agricultural products reflects a fair and sustainable rate driving higher quality yield, encouraging regenerative farming practices, and supporting U.S. farming communities.

As a B Labs certified B Corporation™ and a benefit company, Charlotte's Web is a socially and environmentally conscious company and is committed to using business as a force for good and a catalyst for innovation. The Company weighs sound business decisions with consideration of the impact of their decisions on all stakeholders: customers, workers, communities, and the environment, while maximizing profits and strengthening its brands which include Charlotte's Web™, CBD Medic™, CBD Clinic™, and Harmony Hemp. The Company's management believes that its socially oriented actions have a positive impact on the Company, its employees and its shareholders. 

Forward-Looking Information

Certain information in this news release constitutes forward-looking statements and forward-looking information (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 forward-looking information. ‎

For further information subscribe to Charlotte's Web investor news.

SOURCE Charlotte's Web Holdings, Inc.

Investor Contact: Cory Pala, Director of Investor Relations, [phone], [email protected]

Related Links

https://www.charlottesweb.com/