Charlotte’s Web Holdings delays earnings release, schedules call for September

Charlotte’s Web Holdings delays earnings release, schedules call for September

The leading hemp and CBD company needs more time to crunch the numbers because of COVID-19

The world’s most trusted company in the hemp-extracted cannabidiol (CBD) industry, Charlotte’s Web Holdings, was expected to release its latest earnings report this month; however, it has announced that the event will be delayed. Now, Charlotte’s Web will report its second-quarter results on September 14, 2020, right before the Toronto Stock Exchange opens for business. To discuss the results presented, the company has scheduled a conference call for 8:30 AM ET the same day.

The business call will be hosted by Charlotte’s Web CEO Deanie Elsner, CFO Russ Hammer and Director of Investor Relations Cory Pala. Once each of the executives shares his or her thoughts on the company’s financial health, there will be a section for questions and answers. Charlotte’s Web has released two phone numbers for those who are interested in participating in this call, and they can register ten minutes before the set time.
Also, for those who missed the event, a recording will become available right after and until September 24. In addition to that, a webcast of the call will be accessible to everyone through the investor relations sections of Charlotte’s Web website.

The reason behind the delay has to do with unexpected circumstances brought by the ongoing COVID-19 pandemic, which resulted in the company needed additional time to finish the filing of the second quarter of this year. Charlotte’s Web is using a temporary 45-day extension to complete the filing of the earnings report, which was granted by the Ontario Securities Commission due to the pandemic. Another similar extension to the set period was provided by the Canadian Securities Administrators in the other provinces of Canada. As per the terms of the temporary relief provisions, until Charlotte’s Web presents the second-quarter results, it will be placed in a trading black-out period pursuant to the Company’s Insider Trading Policy.

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