Charlotte's Web Announces Voting Results of Shareholder Meeting
Aug 21, 2019, 10:54 ET
BOULDER, CO, Aug. 21, 2019 /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 2019 annual general and special meeting of shareholders held on August 20, 2019 in New York (the "Meeting"). Each of the matters voted upon at the Meeting is discussed in detail in the Company's Management Information Circular dated July 10, 2019 (the "Circular"), 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 55,076,745, representing 56.57% 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 |
% Votes |
Joel Stanley |
40,022,399 |
98.58% |
576,363 |
1.42% |
Adrienne Elsner |
40,031,798 |
98.60% |
566,964 |
1.40% |
Jared Stanley |
40,003,600 |
98.58% |
576,511 |
1.42% |
John Held |
40,557,008 |
99.90% |
41,429 |
0.10% |
Shane Hoyne |
40,557,031 |
99.90% |
41,631 |
0.10% |
William West |
40,558,444 |
99.90% |
40,218 |
0.10% |
The following matters detailed in the Company's Circular were also duly approved by the requisite votes at the Meeting:
- The appointment of MNP LLP as the auditors of the Company to hold office until the close of the next annual meeting of shareholders of the Company.
- The resolution authorizing the amendment of the Company's Articles and Notice of Articles with respect to stakeholder interests and conversion to a benefit company.
- The resolution authorizing the amendment of the Company's advance notice provisions contained in the Articles.
- The approval and adoption of the employee share purchase plan of the Company.
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.
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About Charlotte's Web Holdings, Inc.
Charlotte's Web Holdings, Inc. is the market leader in the production and distribution of innovative hemp-derived cannabidiol ("CBD") wellness products. Founded by the Stanley Brothers, the Company's premium quality products start with proprietary hemp genetics that are 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, 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 good farming practices, and supporting U.S. farming communities.
Charlotte's Web is a socially 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 for how its efforts affect its employees, customers, the environment, and the communities where its employees live and where it does business, while maximizing profits and strengthening its brands. The Company's management believes that socially oriented actions have a positive impact on the Company, its employees and its shareholders. Charlotte's Web donates a portion of its pre-tax earnings to charitable organizations.
Shares of Charlotte's Web trade on the Toronto Stock Exchange (TSX) under the symbol "CWEB" and are quoted in U.S. Dollars in the United States on the OTCQX under the symbol "CWBHF". As at August 12, 2019 Charlotte's Web had 49,253,934 Common Shares outstanding and 120,529.07 Proportional Voting Shares convertible at 400:1, for an effective equivalent of 97,565,562 Common Shares outstanding.
Forward-Looking Information
Certain information in this news release constitutes forward-looking information which are not historical facts but instead represent management's expectations, estimates and projections regarding future events. Forward-looking information may be materially different from those expressed or implied by such forward-looking information, including but not limited to the factors described in greater detail in the public documents of the Company available at www.sedar.com.
SOURCE Charlotte''s Web Holdings, Inc.
For further information: Charlotte's Web: Investor Contact: Cory Pala, Director of Investor Relations, (416) 594-3849, [email protected]