Charlotte’s Web’s Board Refuses to Engage with its Largest Shareholders
Despite strong support for change to the board of directors (the “Board”) of Charlotte’s Web Holdings, Inc. (TSX: CWEB) (OTCQX: CWBHF) (“Charlotte’s Web” or the “Company”) ahead of the annual general meeting of shareholders scheduled to be held on June 15, 2023 (the “Meeting”), the Board has refused to engage with Jesse and Joel Stanley (the “Concerned Shareholders”), co-founders of Charlotte’s Web, instead telling them to talk to the Company’s lawyers.
Charlotte’s Web Co-Founders Jesse and Joel Stanley Seek Changes to the Board to Enhance Shareholder Value
Jesse and Joel Stanley (the “Concerned Shareholders”), co-founders of Charlotte’s Web Holdings, Inc. (TSX: CWEB) (OTCQX: CWBHF) (“Charlotte’s Web” or the “Company”), have submitted instructions to “WITHHOLD” votes for four of six of the Company’s director nominees – namely, John Held, Jacques Tortoroli, Thomas Lardieri and Alicia Morga (the “Subject Directors”) – ahead of the annual general meeting of shareholders scheduled to be held on June 15, 2023 (the “Meeting”). The Concerned Shareholders understand that certain supporting shareholders, including Major League Baseball (the “Supporting Shareholders”), have also submitted instructions to “WITHHOLD” votes for the Subject Directors ahead of the Meeting.
