CBD giant Charlotte’s Web positions to enter THC market

Briefs, california, California Hemp Business & Legal News, CBD, CBD Products & CBD Business News, Charlotte's Web Holdings, Colorado, Colorado Hemp Business & Legal News, CWEB, Featured, Florida, Florida Hemp Business & Legal News, Hemp Cultivation, Processing & Extraction News, Hemp Finance, Investing and Banking News, Hemp Industry News for Hemp & CBD Retailers, Hemp Legalization & Regulatory News for Hemp Businesses, marijuana legalization, marijuana reform, Stanley Brothers USA Holdings, THC

Hemp-derived CBD giant Charlotte’s Web Holdings is positioning itself to enter THC and marijuana markets.

The Boulder, Colorado, company says it has signed a five-year, $8 million purchase agreement option with a marijuana company started by its founders, Stanley Brothers USA Holdings Inc.

The deal allows Charlotte’s Web to take over the marijuana business after the U.S.  legalizes marijuana nationwide for a total price to be determined based upon revenue and EBITDA figures.

Charlotte’s Web CEO Deanie Elsner says the company made the deal because of signs that federal marijuana reform is nearing.

“Consumer attitudes, market trends and laws surrounding cannabis and its role within the wellness category continue to trend positively,” Elsner said in a statement.

Stanley Brothers founders Jared and Joel Stanley are also members of CW’s board of directors but will step away from those positions to oversee the future acquisition.

Stanley Brothers USA Holdings makes cannabis products that don’t qualify as legal hemp but are lower in THC than many formulations in adult-use cannabis markets.  The company has operations in Colorado, California and Florida.

Charlotte’s Web trades on the Toronto Stock Exchange as CWEB.

Products You May Like

Articles You May Like

CBD and Hemp Oils Natural Cure Ultimate Beginners Guide: For Relieving Pain and Anxiety
How to Buy CBD in Canada
How to buy weed when it’s legalized in Canada
There is something you should know about epilepsy and cannabis | Jokubas Ziburkus | TEDxVilnius
Understanding CBD – Sophie Drozda dispels the myths and gives us the facts! 🌿 🤔 👌

Leave a Reply

Your email address will not be published. Required fields are marked *