American cannabis producer seeks approval in Canada
Stanley Brothers has created Charlotte’s Web Holdings and is seeking regulatory approval in Canada for a proposed initial public offering of its common shares.
Colorado-based Stanley Brothers found a labour of love while researching alternative cancer treatments more than a decade ago.
Four years later, they were deeply moved by news of a little girl with a severe, treatment resistant form of epilepsy called Dravet’s Syndrome.
The five-year old child continued to suffer more than 300 seizures a day, despite multiple treatments with five different drugs.
Remarkably, intense research into the use of Cannabidiol (CBD) extracted from the cannabis plant was producing promising results in labs around the world.
Stanley Brothers was at the forefront, and in 2012, Charlotte’s Web™ was born, offering hope and relief for children and young people suffering this baffling disease.
Today, the company is a leader in the production and distribution of hemp-based CBD wellness products.
CW Hemp, a customized hemp extract, is offered for sale as a medical marijuana product.
In 2017, Stanley Brothers generated US$40-million in revenues and had net income of US$7.5-million.
The company’s cultivation operations include farms in Colorado, contract farming in Kentucky and Oregon, and 300 acres of irrigated farmland.
Products are currently sold through 2,700 retail locations, and approximately two-thirds of revenue is generated through E-commerce sales.
The company expects to leverage sales though new distribution channels in the retail sector.