The trend of United States based companies going public in Canada continues. Stanley Brothers Holdings, the parent of the well known CBD product brand Charlotte’s Web, is planning to take their company public in Canada soon. The Company has filed a preliminary prospectus for an IPO which is being led by underwriter Canaccord Genuity. Stanley Brother Holdings plans to be listed on the Canadian Securities Exchange (CSE).
In 2017, Charlotte’s Web posted sales of US$40 million and in Q1 of 2018 the company has generated sales of US$13.1 million, which is one of the highest sales involved in the sector. Stanley Brothers Holdings plans to use the money raised during the initial
public to expand the company’s manufacturing
capacity, expand cultivation infrastructure,
R&D of new branded products and for general working capital.
Charlotte’s Webs popularity has risen over the course of the past few years due to the unbelievable story of 2 year old Charlotte Fig and Stanley Brothers Holdings CBD oil helping to cure her of uncontrollable seizures. Their non-psychoactive CBD products are derived from the industrial hemp plant and are being offered in a number of different concentrations.