{"id":464828,"date":"2021-03-25T06:10:35","date_gmt":"2021-03-25T10:10:35","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=464828"},"modified":"2021-03-25T06:10:35","modified_gmt":"2021-03-25T10:10:35","slug":"charlottes-web-holdings-reports-q4-2020-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/charlottes-web-holdings-reports-q4-2020-results\/","title":{"rendered":"Charlotte&#8217;s Web Holdings Reports Q4-2020 Results"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p class=\"prntac\">\n        <i>Quarterly growth and market share gains<\/i>\n      <\/p>\n<p>\n        <span class=\"xn-location\">BOULDER, Colo.<\/span>, <span class=\"xn-chron\">March 25, 2021<\/span> \/PRNewswire\/ &#8211; (TSX: CWEB) (OTCQX: CWBHF), Charlotte&#8217;s Web Holdings, Inc. (&#8220;Charlotte&#8217;s Web&#8221; or the &#8220;Company&#8221;), the market share leader in full spectrum cannabidiol (CBD) hemp extract wellness products and a certified B Corp, today reported financial results for the fourth quarter and year ended December\u00a031, 2020. All amounts are expressed in <span class=\"xn-location\">United States<\/span> dollars unless otherwise noted. Certain metrics, including those expressed on an adjusted basis, are non-IFRS measures, see &#8220;<i>Non-IFRS Measures<\/i>&#8221; below.<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder1\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/1473594\/Charlotte_s_Web_Holdings__Inc__Charlotte_s_Web_Holdings_Reports.html\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/1473594\/Charlotte_s_Web_Holdings__Inc__Charlotte_s_Web_Holdings_Reports.jpg\" title=\"Charlotte's Web is a certified B Corp and the market leader in hemp CBD wellness products. (CNW Group\/Charlotte's Web Holdings, Inc.)\" alt=\"Charlotte's Web is a certified B Corp and the market leader in hemp CBD wellness products. (CNW Group\/Charlotte's Web Holdings, Inc.)\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<p>\n        <b>2020 12-Month Financial Highlights<\/b>\n      <\/p>\n<ul type=\"disc\">\n<li>Total net revenue increased to <span class=\"xn-money\">$95.2 million<\/span> vs. <span class=\"xn-money\">$94.6 million<\/span> in 2019 <\/li>\n<li>Direct-to-Consumer (&#8220;DTC&#8221;) eCommerce sales grew 27.6% in 2020 contributing 67.0% of total revenue, substantially offsetting a decline of 29.5% in B2B sales impacted by the COVID-19 pandemic <\/li>\n<li>Gross profit, excluding the impact attributable to the inventory provision, of <span class=\"xn-money\">$60.3 million<\/span> was 63.3% of consolidated revenue <\/li>\n<li>Adjusted EBITDA loss was <span class=\"xn-money\">$20.2 million<\/span><\/li>\n<li>\n          <span class=\"xn-money\">$52.8 million<\/span> cash and <span class=\"xn-money\">$113.6 million<\/span> working capital at <span class=\"xn-chron\">December 31, 2020<\/span><\/li>\n<\/ul>\n<p>\n        <b>2020 12-Month Business Highlights<\/b>\n      <\/p>\n<ul type=\"disc\">\n<li>Completed acquisition of Abacus Health to become the market share leader in CBD topicals<sup>1<\/sup><\/li>\n<li>Invested <span class=\"xn-money\">$28.3 million<\/span> capex including new facilities to expand capacity for production, extraction, R&amp;D, and distribution <\/li>\n<li>Launched CW Labs R&amp;D division to advance hemp science and clinical studies <\/li>\n<li>Secured 3 U.S. Patents for the Company&#8217;s proprietary hemp cultivars bringing total patents to 5 in 2021 <\/li>\n<li>Increased distribution from 10,000 doors to more than 22,000 unique retail doors <\/li>\n<li>Sponsored a third-party liver health study to address FDA need for quantitative data <\/li>\n<li>Drove federal and state legislative actions to help develop comprehensive regulatory framework <\/li>\n<li>Earned B Corp certification<\/li>\n<\/ul>\n<p>\n        <b>Q4-2020 Financial Highlights\u00a0\u00a0<\/b>\n      <\/p>\n<ul type=\"disc\">\n<li>Revenue increased 17.9% to <span class=\"xn-money\">$26.9 million<\/span> vs. Q4-2019 and increased 7.0% vs. Q3-2020 <\/li>\n<li>DTC sales increased 21.2% year-over-year, contributing <span class=\"xn-money\">$17.4 million<\/span> or 64.8% of Q4 revenue <\/li>\n<li>Net revenue increased quarter-over-quarter for both DTC 4.2% and B2B 12.7% <\/li>\n<li>Gross profit, excluding the impact attributable to a Q4 inventory provision, was <span class=\"xn-money\">$16.8 million<\/span>, or 62.2% of consolidated revenue <\/li>\n<li>Adjusted EBITDA loss of <span class=\"xn-money\">$2.1 million<\/span> vs. loss of <span class=\"xn-money\">$6.7 million<\/span> in Q3-2020<\/li>\n<\/ul>\n<p>\n        <b>Q4-2020 Business Highlights<\/b>\n      <\/p>\n<ul type=\"disc\">\n<li>Increased DTC eCommerce transactions, conversion rates, subscriptions and unit volume <\/li>\n<li>Commenced Phase III extraction infrastructure and R&amp;D expansion in new 137,000 sq ft facility to build out production capacity ahead of anticipated growth. Related Q4 capex of <span class=\"xn-money\">$5.9 million<\/span>. <\/li>\n<li>Secured 5-year exclusive distribution partnership with Intercare\/Canndoc in <span class=\"xn-location\">Israel<\/span> as first step in international expansion strategy <\/li>\n<li>Exited 2020 as market share leader in total food\/drug\/mass retail (&#8220;F\/D\/M&#8221;), US natural specialty retail, and DTC channel<\/li>\n<\/ul>\n<p>&#8220;We turned a challenging start to 2020 into a strong finish, taking multiple actions and outperforming much of the competitive set to extend our brand and market share leadership,&#8221; said <span class=\"xn-person\">Deanie Elsner<\/span>, CEO of Charlotte&#8217;s Web. &#8220;We filled product and channel gaps with competitive offerings and advanced the science of hemp CBD through CW Labs and collaborative studies with top tier institutions. We have now protected our intellectual property with 5 patents awarded for our proprietary cultivars and have defended our trademarked Charlotte&#8217;s Web\u2122 brand though a recent judgement. In 2021 we are positioning for long-term growth and shareholder value creation as we evolve towards establishing Charlotte&#8217;s Web as a leading global botanicals wellness company by expanding into cannabis wellness where federally permissible. To support our international growth we have an exclusive agreement with one of <span class=\"xn-location\">Israel&#8217;s<\/span> largest medical cannabis producers, and in the U.S. we secured future optionality through a strategic option to acquire Stanley Brothers cannabis business pending US federal legalization of cannabis.&#8221; <\/p>\n<p>\n        <b><br \/>\n          <u>Q4-2020 Financial Review<br \/><\/u><br \/>\n        <\/b>The following table sets forth selected financial information for the periods indicated.<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prngen1\">\n<tr>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"5\" nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Three months ended<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"5\" nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Year ended<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"5\" nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">December 31,<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"5\" nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">December 31,<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">U.S. $ millions, except per share data<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2019<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2019<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Revenue<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>26.9<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">22.8<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>95.2<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>94.6<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Gross profit (loss) before biological assets <br \/>adjustment<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>10.6<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1.7)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>52.3<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>50.5<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net impact, fair value of biological assets<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(0.4)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.4<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u2014<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(0.2)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Gross profit (loss)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>10.9<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(2.1)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>52.3<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>50.6<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Operating expenses<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>23.6<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">26.4<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u2014<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>104.7<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>75.4<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Change in fair value of warrants and other <br \/>expense (income), net<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2.1<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(2.9)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(11.6)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(3.6)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Loss before taxes<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(14.7)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(25.5)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(40.9)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(21.2)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Net loss and comprehensive loss<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(14.7)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(18.8)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(47.2)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(15.6)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">EPS basic<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(0.11)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(0.19)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(0.38)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(0.16)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">EPS diluted<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(0.11)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(0.19)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(0.38)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(0.16)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Adjusted EBITDA<sup>1<\/sup><\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(2.1)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(10.1)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(20.2)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(1.3)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Assets:<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>December 31, 2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">December 31, 2019<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Cash and cash equivalents<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>52.8<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">68.6<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Total assets<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>310.9<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">222.9<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Liabilities:<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen8\">\n              \n            <\/td>\n<td class=\"prngen8\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen8\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Long-term liabilities<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>27.7<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">39.8<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Total liabilities<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>56.7<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">69.2<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<\/tr>\n<\/table><\/div>\n<p>The following information sets forth selected quarterly revenue information for the Company&#8217;s recent fiscal quarters.<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"1\" class=\"prntblns\">\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">U.S. $ millions<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"3\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Q4<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td colspan=\"3\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Q3<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"3\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Q2<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"3\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Q1<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"3\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Q4<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"3\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Q3<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"3\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Q2<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"3\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Q1<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2020<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2020<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2020<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2019<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2019<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2019<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2019<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Revenue<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>26.9<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">25.2<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">21.7<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">21.5<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">22.8<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">25.1<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">25.0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">21.7<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>Consolidated fourth quarter revenue increased to <span class=\"xn-money\">$26.9 million<\/span>, as compared to <span class=\"xn-money\">$22.8 million<\/span> in 2019, an increase of 17.9% compared to the same period in 2019, and 7.0% compared to the prior three months ended <span class=\"xn-chron\">September 30, 2020<\/span>. During 2020 the Company implemented a competitive pricing realignment strategy across its product portfolio resulting in increased unit sales and expanded market share in the second half offsetting some of the headwinds created by COVID-19.\u00a0 B2B net sales increased 12.4% year-over-year supported by expanded topical product offerings. DTC net sales grew by 21.2% year-over-year supported by the pricing realignment and higher conversion rates through ongoing marketing and social media programs. Year-over-year new consumer acquisitions increased 52% and conversion rates increased 98%. DTC net revenue accounted for 64.8% of total revenue in the fourth quarter compared to 63.0% for the same period in the prior year. <\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prngen1\">\n<tr>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"5\" nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Three months ended<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen15\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"5\" nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Year ended<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen15\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"5\" nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">December 31,<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen15\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"5\" nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">December 31,<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen15\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2019<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">% Increase<br \/>(Decrease) of <br \/>Revenue<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2019<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">% Increase<br \/>(Decrease) of <br \/>Revenue<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Revenue &#8211; U.S. $ millions<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>26.9<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">22.8<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">17.9<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>95.2<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">94.6<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.7<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Direct-to-consumer (&#8220;DTC&#8221;)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>17.4<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">14.4<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <sup>1<\/sup><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">21.2<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>63.8<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">50.0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <sup>1<\/sup><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">27.6<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Business-to-business (&#8220;B2B&#8221;)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>9.5<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">8.4<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <sup>1<\/sup><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">12.4<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>31.4<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">44.6<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <sup>1<\/sup><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(29.5)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<div>\n<table id=\"convertedTable18c9\" cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prngen1\">\n<tr>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen18\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <sup>1<\/sup><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Revenues for the three months and year ended December 31, 2019 were recategorized to conform with 2020 categorization.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>Gross profit for the fourth quarter was 40.6% compared to (9.0)% last year. Gross profit, excluding the impact attributable to an inventory provision, was 62.2% compared to 52.0% last year.<\/p>\n<p>Operating expenses were <span class=\"xn-money\">$23.6 million<\/span>, a 10.4% year-over-year decrease from <span class=\"xn-money\">$26.4 million<\/span>. High operating expenses reflect the Company&#8217;s investments in capacity expansion and transition to a consumer-packaged goods (&#8220;CPG&#8221;) operating company capable of supporting mass retail channel growth. In response to lower B2B retail sales growth during the pandemic, in Q4-2020 management took actions to better align operating expenses through an expense optimization program successfully achieving reductions of more than 10% of the consolidated expense run rate by the end of 2020. This was achieved despite the addition of the CW Labs R&amp;D division and the Abacus acquisition during the year. As a percent of revenue operating expenses improved from 136%, to 113% and 88% for Q2, Q3 and Q4, respectively in 2020.<\/p>\n<p>Adjusted EBITDA for the quarter was negative <span class=\"xn-money\">$2.1 million<\/span>, or (7.7)% of consolidated revenue, compared to Adjusted EBITDA of negative <span class=\"xn-money\">$10.1 million<\/span>, or (44.4)% of revenue, for the fourth quarter of 2019. The improved Adjusted EBITDA ratio\u00a0 reflects higher revenue combined with the expense optimization program.<\/p>\n<p>\n        <b>Balance Sheet and Cash Flow<br \/><\/b>The Company used <span class=\"xn-money\">$5.1 million<\/span> of cash in operations during the fourth quarter of 2020 compared to <span class=\"xn-money\">$8.6 million<\/span> of cash used in operations during the fourth quarter of 2019. The Company&#8217;s cash and working capital at December\u00a031, 2020 were <span class=\"xn-money\">$52.8 million<\/span> and <span class=\"xn-money\">$113.6 million<\/span>, respectively, compared to <span class=\"xn-money\">$68.6 million<\/span> and <span class=\"xn-money\">$116.9 million<\/span> at <span class=\"xn-chron\">December 31, 2019<\/span>.<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prngen1\">\n<tr>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"11\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Three months ended<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"11\" class=\"prngen5\">\n<p class=\"prnml20\">\n                <span class=\"prnews_span\">December 31<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2019<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>Change<\/p>\n<\/td>\n<td class=\"prngen8\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">% Change<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Cash beginning of period<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$65.9<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$35.0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$30.9<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">88.3<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Cash flows from (used in):<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Operating activities<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(5.1)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(8.6)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3.5<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(40.7)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Investing activities<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(7.6)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(4.9)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(2.7)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">55.1<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Financing activities<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(0.4)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">47.1<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(47.5)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(100.8)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Cash, end of period<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$52.8<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$68.6<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$(15.8)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(23.0)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>%<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\n        <b>Consolidated Financial Statements and Management&#8217;s Discussion and Analysis<br \/><\/b>The Company&#8217;s audited consolidated financial statements and accompanying notes for the periods ended December\u00a031, 2020 and 2019, and related management&#8217;s discussion and analysis of financial condition and results of operations (&#8220;MD&amp;A&#8221;), are available under the Company&#8217;s profile on SEDAR at <a href=\"http:\/\/www.sedar.com\" rel=\"nofollow\">www.sedar.com<\/a> and on the Investor Relations section of the Company&#8217;s website at <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3108436-1&amp;h=1821384121&amp;u=https%3A%2F%2Finvestors.charlottesweb.com%2F&amp;a=https%3A%2F%2Finvestors.charlottesweb.com\" rel=\"nofollow noopener noreferrer\">https:\/\/investors.charlottesweb.com<\/a>.<\/p>\n<p>\n        <b>Conference Call<br \/><\/b>Management will host a conference call to discuss the Company&#8217;s fourth quarter 2020 results at 8:30a.m. ET on <span class=\"xn-chron\">Thursday, March 25, 2021<\/span>. To participate in the call, please dial 1-647-427-7450 or 1-888-231-8191 approximately 10 minutes before the conference call and provide conference ID 7397494. A recording of the call will be available through <span class=\"xn-chron\">April 1, 2021<\/span>. To listen to the rebroadcast please dial 1-416-849-0833 and provide the same conference ID. <\/p>\n<p>A webcast of the call can be accessed through the <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3108436-1&amp;h=4065139815&amp;u=https%3A%2F%2Finvestors.charlottesweb.com%2Fevents%2Fdefault.aspx&amp;a=investor+relations+section\" rel=\"nofollow noopener noreferrer\">investor relations section<\/a>\u00a0of the Charlotte&#8217;s Web website. <\/p>\n<p>\n        <b>About Charlotte&#8217;s Web Holdings, Inc. <br \/><\/b>\n      <\/p>\n<p class=\"prntaj\">Charlotte&#8217;s Web Holdings, Inc., a Certified B Corporation headquartered in <span class=\"xn-location\">Boulder, Colorado<\/span>, is the \u00a0market leader in the production and distribution of innovative hemp derived cannabidiol (&#8220;CBD&#8221;)\u00a0 wellness products under a family of brands which includes Charlotte&#8217;s Web\u2122, CBD Medic\u2122, CBD Clinic\u2122, and <span class=\"xn-person\">Harmony Hemp<\/span>. The Company&#8217;s premium quality products start with proprietary hemp genetics that are 100-percent American farm grown and manufactured into whole-plant hemp extracts containing a full spectrum of naturally occurring phytocannabinoids including CBD, CBC, CBG, terpenes, flavonoids and other beneficial hemp compounds.\u00a0 \u00a0\u00a0Charlotte&#8217;s Web product categories include\u00a0 CBD oil tinctures (liquid products), CBD gummies (sleep, stress, inflammation recovery), CBD capsules, CBD topical creams and lotions, as well as CBD pet products for dogs. Charlotte&#8217;s Web is the number one CBD brand in the <span class=\"xn-location\">USA<\/span> and is distributed through more than 22,000 retail locations, select distributors and online through the Company&#8217;s website at <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3108436-1&amp;h=2533202797&amp;u=http%3A%2F%2Fwww.charlottesweb.com%2F&amp;a=www.CharlottesWeb.com\" rel=\"nofollow noopener noreferrer\">www.CharlottesWeb.com<\/a>.\u00a0\u00a0 <\/p>\n<p class=\"prntaj\">Charlotte&#8217;s Web was founded by the Stanley Brothers with a mission to unleash the healing powers of botanicals through compassion and science, benefiting the planet and all who live upon it.\u00a0 Charlotte&#8217;s Web is a socially and environmentally 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 diverse communities. The rate the Company pays for agricultural products reflects a fair and sustainable rate driving higher quality yield, encouraging regenerative farming practices, and supporting U.S. farming communities. Management believes that its socially oriented and environmentally responsible actions have a positive impact on its customers, suppliers, employees and stakeholders. Charlotte&#8217;s Web donates a portion of its pre-tax earnings to charitable organizations.<\/p>\n<p>\n        <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3108436-1&amp;h=3862345749&amp;u=https%3A%2F%2Finvestors.charlottesweb.com%2Fresources%2Femail-alerts%2Fdefault.aspx&amp;a=Subscribe\" rel=\"nofollow noopener noreferrer\">Subscribe<\/a>\u00a0to Charlotte&#8217;s Web investor news. <\/p>\n<p>Shares of Charlotte&#8217;s Web trade on the Toronto Stock Exchange (TSX) under the symbol &#8220;CWEB&#8221; and are quoted in U.S. Dollars in <span class=\"xn-location\">the United States<\/span> on the OTCQX under the symbol &#8220;CWBHF.&#8221; As of <span class=\"xn-chron\">March 22, 2021<\/span> Charlotte&#8217;s Web had 108,912,326 Common Shares outstanding and 77,243.34 Proportional Voting Shares convertible at 400:1 into Common Shares, for an effective equivalent totaling 139,809,661 Common Shares outstanding.<\/p>\n<div>\n<table id=\"convertedTablee088\" cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prngen1\">\n<tr>\n<td colspan=\"2\" class=\"prngen20\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Non-IFRS Measures<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen20\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Adjusted\u00a0 earnings before interest, taxes, depreciation and amortization (&#8220;Adjusted EBITDA&#8221;) is not a recognized performance measure under International Financial Reporting Standards (&#8220;IFRS&#8221;). Adjusted EBITDA does not have a standardized meaning prescribed by IFRS and therefore may not be comparable to \u200esimilar measures presented by other issuers. \u200e The term EBITDA consists of net loss and excludes interest (&#8220;financing costs&#8221;), taxes, depreciation and amortization. Adjusted EBITDA also excludes share-based compensation, impairment of assets, acquisition costs, legal settlement costs, restructuring charges, and adjustments for fair value of biological assets, warrant liabilities, and stock appreciation rights. Adjusted EBITDA is included as a supplemental disclosure because Management believes that such measurement provides a better assessment of the Company&#8217;s operations on a continuing basis by eliminating certain non-cash charges and charges or gains that are nonrecurring. The most directly comparable measure to Adjusted EBITDA calculated in accordance with IFRS is net loss. See &#8220;Adjusted EBITDA&#8221; in the MD&amp;A for a reconciliation of Adjusted EBITDA to net loss.\u00a0 <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"1\" class=\"prntblns\">\n<tr>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td colspan=\"5\" class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Three months ended<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td colspan=\"5\" class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Year ended<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td colspan=\"5\" class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">December 31,<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td colspan=\"5\" class=\"prngen22\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">December 31,<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">U.S. $ millions <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2019<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2019<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net loss and comprehensive loss<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(14.7)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(18.8)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(47.2)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(15.6)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen26\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Depreciation of property and equipment and <br \/>amortization of intangibles<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>3.0<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1.4<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>9.8<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4.0<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Financing costs<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>0.3<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.1<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>1.3<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.3<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Interest income<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u2014<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(0.1)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(0.2)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1.0)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen23\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Income tax expense (benefit)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u2014<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(6.7)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>6.3<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(5.6)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen23\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">EBITDA<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(11.4)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(24.1)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(30.0)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(17.9)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen26\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Mark-to-market fair value of warrants and stock <br \/>appreciation rights<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>1.9<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(2.1)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(11.4)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(2.1)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Fair value changes of biological assets, net<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(0.4)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.4<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u2014<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(0.2)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Share-based compensation<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>1.6<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1.7<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>5.9<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3.0<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Impairment of assets<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>5.8<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">13.9<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>8.0<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">15.5<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Acquisition costs<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>0.2<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>3.9<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Legal settlement<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u2014<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2.1<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen23\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Restructuring charges<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>0.2<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.1<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>1.3<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.4<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Adjusted EBITDA<sup>1<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(2.1)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(10.1)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(20.2)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1.3)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<div>\n<table id=\"convertedTablea6c8\" cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prngen1\">\n<tr>\n<td class=\"prngen20\">\n              \n            <\/td>\n<td class=\"prngen18\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen20\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <sup>1<\/sup><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Adjusted EBITDA presented in prior periods has been reclassified to conform with the current period presentation to include Interest income as a reduction of EBITDA and Adjusted EBITDA.\u00a0\u00a0 <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\n        <b><br \/>\n          <i>Forward-Looking Statements<br \/><\/i><br \/>\n        <\/b><br \/>\n        <i>In the interest of providing the shareholders and potential investors of Charlotte&#8217;s Web Holdings, Inc. with information about the Company, including management&#8217;s assessment of the Company&#8217;s future plans and operations, certain information provided in this press release constitutes forward-looking statements or information (collectively, &#8220;forward-looking statements&#8221;). Forward-looking statements are typically identified by words such as &#8220;may&#8221;, &#8220;will&#8221;, &#8220;should&#8221;, &#8220;could&#8221;, &#8220;anticipate&#8221;, &#8220;expect&#8221;, &#8220;project&#8221;, &#8220;estimate&#8221;, &#8220;forecast&#8221;, &#8220;plan&#8221;, &#8220;intend&#8221;, &#8220;target&#8221;, &#8220;believe&#8221; and similar words suggesting future outcomes or statements regarding an outlook. Although these forward-looking statements are based on assumptions the Company considers to be reasonable based on the information available on the date such statements are made, such statements are not guarantees of future performance and readers are cautioned against placing undue reliance on forward-looking statements. By their nature, these statements involve a variety of assumptions, known and unknown risks and uncertainties, and other factors which may cause actual results, levels of activity, and achievements to differ materially from those expressed or implied by such statements. The forward-looking statements contained in this press release are based on certain assumptions and analysis by management of the Company (&#8220;Management&#8221;) in light of its experience and perception of historical trends, current conditions and expected future development and other factors that it believes are appropriate. <\/i>\n      <\/p>\n<p>\n        <i>Forward-looking statements are not historical facts but instead represent management&#8217;s expectations, estimates and projections regarding the future of our business, future plans, strategies, projections, anticipated events and trends, the economy and other future conditions. Although the Company believes there is a reasonable basis for the expectations and assumptions reflected on the forward-looking statements, undue reliance should not be placed on the forward-looking statements because the Company can give no assurances that they will prove to be correct. The forward-looking statements contained in this press release speak only as of the date hereof and are expressly qualified by this cautionary statement.<\/i>\n      <\/p>\n<p>\n        <i>Specifically, this news release contains forward-looking statements relating to, but not limited to: potential capacity expansion for production, extraction, R&amp;D and distribution; international expansion activities and strategy; capacity expansion and transition to a CPG operating company capable of supporting mass retail channel growth; the impact of certain activities on the Company&#8217;s business and financial condition; suggested regulatory developments; the Company&#8217;s anticipated trajectory, long-term growth expectations and shareholder value creation; and product expansion, including into cannabis wellness where federally permissible.<\/i>\n      <\/p>\n<p>\n        <i>The material factors and assumptions used to develop the forward-looking statements herein include, but are not limited to, the following: (i) the impact of the COVID-19 pandemic; (ii) the regulatory climate in which the Company operates; (iii) the continued sales success of the Company&#8217;s products; (iv) the continued success of sales and marketing activities; (v) the Company&#8217;s ability to complete the conversion or buildout of its facilities on time and on budget; (vi) there will be no significant delays in the development and commercialization of the Company&#8217;s products; (vii) the Company will continue to maintain sufficient and effective production and research and development capabilities to compete on the attributes and cost of its products; (viii) the Company&#8217;s ability to deal with adverse growing conditions (due to pests, disease, fungus, climate or other factors) in a timely and cost-effective manner; (ix) there will be no significant reduction in the availability of qualified and cost-effective human resources; * new products will continue to be added to the Company&#8217;s portfolio; (xi) demand for hemp-based wellness products will continue to grow in the foreseeable future; (xii) there will be no significant barriers to the acceptance of the Company&#8217;s products in the market; (xiii) the Company will be able to maintain compliance with applicable contractual and regulatory obligations and requirements; (xiv) there will be adequate liquidity available to the Company to carry out its operations; and (xv) products do not develop that would render the Company&#8217;s current and future product offerings undesirable and the Company is otherwise able to minimize the impact of competition and keep pace with changing consumer preferences; and (xvi) the Company will be able to successfully manage and integrate acquisitions and take advantage of synergies from acquisitions.<\/i>\n      <\/p>\n<p>\n        <i>The Company&#8217;s forward-looking statements are subject to risks and uncertainties pertaining to, among other things, the adverse impact of the COVID-19 pandemic to the Company&#8217;s operations, supply chain, distribution chain, and to the broader market for the Company&#8217;s products, revenue fluctuations, nature of government regulations (both domestic and foreign), economic conditions, loss of key customers, retention and availability of executive talent, competing products, common share price volatility, loss of proprietary information, product acceptance, internet and system infrastructure functionality, information technology security, cash available to fund operations, crop risk, availability of capital, international and political considerations, the successful integration of acquired businesses, and including but not limited to those risks and uncertainties discussed in the Company&#8217;s other filings with securities regulators. The impact of any one risk, uncertainty, or factor on a particular forward-looking statement is not determinable with certainty as these are interdependent, and the Company&#8217;s future course of action depends on Management&#8217;s assessment of all information available at the relevant time. Except to the extent required by law, the Company assumes no obligation to publicly update or revise any forward-looking statements made in this press release, whether as a result of new information, future events, or otherwise. All subsequent forward-looking statements, whether written or oral, attributable to the Company or persons acting on the Company&#8217;s behalf, are expressly qualified in their entirety by these cautionary statements.<\/i>\n      <\/p>\n<p>\n        <i>These foregoing lists are not exhaustive. Additional information on these and other factors which could affect the Company&#8217;s operations or financial results are included in the Company&#8217;s most recent annual information form and other public documents\u00a0 on file with the Canadian Securities regulatory authorities on <a href=\"http:\/\/www.sedar.com\" rel=\"nofollow\">www.sedar.com<\/a>. <\/i>\n      <\/p>\n<p>\n        <i>The above summary of assumptions and risks related to forward-looking statements in this news release has been provided in order to provide shareholders and potential investors with a more complete perspective on the Company&#8217;s current and future operations and such information may not be appropriate for other purposes. There is no representation by the Company that actual results achieved will be the same in whole or in part as those referenced in the forward-looking statements and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities law.<\/i>\n      <\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"1\" class=\"prntblns\">\n<tr>\n<td colspan=\"5\" nowrap=\"nowrap\" class=\"prngen26\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>CHARLOTTE&#8217;S WEB HOLDINGS, INC.<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" nowrap=\"nowrap\" class=\"prngen26\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">CONSOLIDATED STATEMENTS OF FINANCIAL POSITION<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" nowrap=\"nowrap\" class=\"prngen26\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(In thousands of United States dollars)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen24\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen24\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen21\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen21\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">December 31, 2020<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">December 31, 2019<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen26\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">ASSETS<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen21\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen21\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen21\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen21\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Current assets:<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen21\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen21\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnml30\">\n                <span class=\"prnews_span\">Cash<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">52,803<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">68,553<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnml30\">\n                <span class=\"prnews_span\">Trade and other receivables, net <\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">6,274<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5,462<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnml30\">\n                <span class=\"prnews_span\">Note receivable<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,753<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,421<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnml30\">\n                <span class=\"prnews_span\">Note receivable &#8211; related party<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,004<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnml30\">\n                <span class=\"prnews_span\">Inventories<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">61,936<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">64,054<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnml30\">\n                <span class=\"prnews_span\">Prepaid expenses and other current assets<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">7,390<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,592<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen13\">\n<p class=\"prnml30\">\n                <span class=\"prnews_span\">Income taxes receivable<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">11,440<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,273<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">142,600<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">146,355<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Non-current assets:<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen21\">\n              \n            <\/td>\n<td colspan=\"4\" class=\"prngen21\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnml30\">\n                <span class=\"prnews_span\">Property and equipment, net<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">60,269<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">42,949<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnml30\">\n                <span class=\"prnews_span\">Intangible assets, net<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">25,376<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,596<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnml30\">\n                <span class=\"prnews_span\">Goodwill<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">77,454<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnml30\">\n                <span class=\"prnews_span\">Deferred tax assets<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">30,417<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen13\">\n<p class=\"prnml30\">\n                <span class=\"prnews_span\">Other long-term assets<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5,178<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,625<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\">\n              \n            <\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">310,881<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">222,942<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen21\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen21\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">LIABILITIES AND SHAREHOLDERS&#8217; EQUITY<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen21\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen21\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen21\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen21\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Current liabilities:<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen21\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen21\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnml30\">\n                <span class=\"prnews_span\">Accounts payable<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4,891<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">8,798<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnml30\">\n                <span class=\"prnews_span\">Accrued liabilities<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">11,519<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">7,323<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnml30\">\n                <span class=\"prnews_span\">Deferred revenue<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">615<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">550<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnml30\">\n                <span class=\"prnews_span\">Current cultivation liabilities<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">9,304<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">10,803<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnml30\">\n                <span class=\"prnews_span\">Current notes payable<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">629<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">9<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen13\">\n<p class=\"prnml30\">\n                <span class=\"prnews_span\">Current lease obligations<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,015<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,945<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">28,973<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">29,428<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Non-current liabilities:<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen21\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen21\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnml30\">\n                <span class=\"prnews_span\">Long-term cultivation liabilities<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,513<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">14,289<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnml30\">\n                <span class=\"prnews_span\">Long-term notes payable<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">144<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnml30\">\n                <span class=\"prnews_span\">Long-term lease obligations<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">20,567<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">22,116<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnml30\">\n                <span class=\"prnews_span\">Warrant liabilities<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4,304<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,408<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen13\">\n<p class=\"prnml30\">\n                <span class=\"prnews_span\">Other long-term liabilities<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">151<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">56,652<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">69,244<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Shareholders&#8217; equity:<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen21\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen21\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnml30\">\n                <span class=\"prnews_span\">Share capital<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">279,308<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">123,927<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnml30\">\n                <span class=\"prnews_span\">Contributed surplus<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">19,849<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">27,513<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen13\">\n<p class=\"prnml30\">\n                <span class=\"prnews_span\">(Accumulated deficit) Retained earnings<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(44,928)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,258<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\">\n              \n            <\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">310,881<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">222,942<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prngen1\">\n<tr>\n<td colspan=\"9\" nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>CHARLOTTE&#8217;S WEB HOLDINGS, INC.<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"9\" nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">CONSOLIDATED STATEMENTS OF LOSS AND OTHER COMPREHENSIVE LOSS<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"9\" nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(In thousands of United States dollars, except per share amounts)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen27\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen27\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen27\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen27\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen27\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"4\" class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Three months ended<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"4\" class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Year ended<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"4\" class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">December 31,<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"4\" class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">December 31,<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen8\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2020<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2019<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2020<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2019<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Revenue<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">26,927<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">22,830<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">95,226<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">94,594<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Cost of sales<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">16,364<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">24,532<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">42,937<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">44,144<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Gross profit before (gain) loss on fair value of biological <br \/>assets<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">10,563<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,702)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">52,289<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">50,450<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Realized fair value (gain) included in inventory sold<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(203)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(432)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(289)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(994)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Unrealized fair value loss on growth of biological assets<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(178)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">794<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">323<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">842<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Gross profit<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">10,944<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(2,064)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">52,255<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">50,602<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Expenses:<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">General and administrative<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">13,809<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">14,961<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">68,764<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">45,546<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Sales and marketing<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">8,131<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">10,739<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">30,010<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">28,107<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Research and development<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,668<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">655<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5,951<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,754<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Operating expenses<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">23,608<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">26,355<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">104,725<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">75,407<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Operating loss<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(12,664)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(28,419)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(52,470)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(24,805)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Financing costs<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">357<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">85<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,260<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">326<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Interest income<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(6)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(141)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(185)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(994)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Change in fair value of warrants and other income, net<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,716<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(2,869)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(12,671)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(2,928)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Loss before taxes<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(14,731)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(25,494)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(40,874)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(21,209)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Income tax expense (benefit)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(13)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(6,716)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">6,312<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(5,642)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen28\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net loss and comprehensive loss<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen27\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen29\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(14,718)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen27\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen29\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(18,778)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen27\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen29\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(47,186)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen27\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen29\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(15,567)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Weighted average number of common shares &#8211; basic<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">139,230,803<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">100,380,496<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">125,012,249<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">96,539,194<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen28\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Weighted average number of common shares &#8211; diluted<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen27\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">139,230,803<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen27\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">100,380,496<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen27\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">125,012,249<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen27\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">96,539,194<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Loss earnings per share &#8211; basic<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(0.11)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(0.19)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(0.38)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(0.16)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen28\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Loss earnings per share &#8211; diluted<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen27\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen29\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(0.11)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen27\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen29\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(0.19)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen27\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen29\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(0.38)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen27\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen29\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(0.16)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p><\/p>\n<p>\u00a0<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prngen1\">\n<tr>\n<td colspan=\"9\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>CHARLOTTE&#8217;S WEB HOLDINGS, INC.<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"9\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS&#8217; EQUITY<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"9\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(In thousands of United States dollars)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prnsbtb0 prnrbrb0 prnvab prnsbbd prntal prnpl6 prnsblb0 prnpr8\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen27\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen27\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen27\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen27\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen31\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen8\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen8\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen8\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen8\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Year ended December 31, 2019<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Share capital<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Contributed<br \/>surplus<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Retained<br \/>earnings<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Total<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Balance &#8211; December 31, 2018<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">78,316<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">25,357<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">17,825<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">121,498<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Exercise of common stock options<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,850<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,264)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,586<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Exercise of common stock warrants<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,328<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(842)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">486<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Accumulated effect of income tax from stock options<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,284<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,284<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Share-based compensation expense<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,978<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,978<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2019 Share offering, net of warrants<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">44,295<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">44,295<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Share issuance costs <\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(2,862)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(2,862)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net loss and comprehensive loss<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(15,567)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(15,567)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen32\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Balance &#8211; December 31, 2019<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen27\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen27\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">123,927<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen27\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen27\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">27,513<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen27\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen27\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,258<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen27\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen27\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">153,698<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen31\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen8\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen8\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen8\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen8\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Year ended December 31, 2020<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Share capital<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Contributed<br \/>surplus<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Accumulated <br \/>deficit<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Total<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Balance &#8211; December 31, 2019<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">123,927<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">27,513<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,258<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">153,698<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Exercise of common stock options<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4,001<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,534)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,467<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Withholding of common stock upon vesting of restricted share <br \/>awards<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,328<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,347)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(19)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Accumulated effect of income tax from stock options<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(16,087)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(16,087)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Share-based compensation expense<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5,897<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5,897<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2020 Share Offering, net of warrants<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">47,959<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">47,959<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Share issuance costs<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(3,368)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(3,368)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Abacus Acquisition<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">105,461<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5,407<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">110,868<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net loss and comprehensive loss<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(47,186)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(47,186)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen32\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Balance &#8211; December 31, 2020<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen27\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen27\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">279,308<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen27\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen27\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">19,849<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen27\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen29\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(44,928)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen27\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen27\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">254,229<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p><\/p>\n<p>\u00a0<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prngen1\">\n<tr>\n<td colspan=\"5\" nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>CHARLOTTE&#8217;S WEB HOLDINGS, INC.<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">CONSOLIDATED STATEMENTS OF CASH FLOWS<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" nowrap=\"nowrap\" class=\"prngen32\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(In thousands of United States dollars)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"4\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Year ended December 31,<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen8\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2020<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2019<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Cash flows from operating activities:<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\">\n<p class=\"prnml20\">\n                <span class=\"prnews_span\">Net loss<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(47,186)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(15,567)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Items not involving cash:<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\">\n<p class=\"prnml20\">\n                <span class=\"prnews_span\">Depreciation <\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">7,746<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,666<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\">\n<p class=\"prnml20\">\n                <span class=\"prnews_span\">Amortization <\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,008<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">300<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\">\n<p class=\"prnml20\">\n                <span class=\"prnews_span\">Change in fair value of biological assets<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">34<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(152)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\">\n<p class=\"prnml20\">\n                <span class=\"prnews_span\">Change in fair value of warrant liabilities<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(11,167)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(2,107)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\">\n<p class=\"prnml20\">\n                <span class=\"prnews_span\">Expected credit losses<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">834<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">422<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\">\n<p class=\"prnml20\">\n                <span class=\"prnews_span\">Inventory provision, net<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">8,025<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">15,474<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\">\n<p class=\"prnml20\">\n                <span class=\"prnews_span\">Share-based compensation <\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5,897<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,978<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\">\n<p class=\"prnml20\">\n                <span class=\"prnews_span\">Loss on disposal of assets<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(5)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">18<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\">\n<p class=\"prnml20\">\n                <span class=\"prnews_span\">Deferred income taxes<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">14,348<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(5,684)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Changes in working capital:<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\">\n<p class=\"prnml20\">\n                <span class=\"prnews_span\">Trade and other receivables, net<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,276<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,010)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\">\n<p class=\"prnml20\">\n                <span class=\"prnews_span\">Inventories<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,782)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(53,498)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\">\n<p class=\"prnml20\">\n                <span class=\"prnews_span\">Prepaid expenses and other current assets<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(3,673)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">325<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\">\n<p class=\"prnml20\">\n                <span class=\"prnews_span\">Accounts payable<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(8,594)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,460<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\">\n<p class=\"prnml20\">\n                <span class=\"prnews_span\">Accrued liabilities<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">829<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">840<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\">\n<p class=\"prnml20\">\n                <span class=\"prnews_span\">Income taxes<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(8,132)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,486)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\">\n<p class=\"prnml20\">\n                <span class=\"prnews_span\">Cultivation liabilities<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(11,289)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">18,275<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\">\n<p class=\"prnml20\">\n                <span class=\"prnews_span\">Other operating assets and liabilities, net<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,239<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">270<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(48,592)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(33,476)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Cash flows from investing activities:<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\">\n<p class=\"prnml20\">\n                <span class=\"prnews_span\">Cash acquired in business combinations <\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">11,181<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\">\n<p class=\"prnml20\">\n                <span class=\"prnews_span\">Purchases of property and equipment<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(25,904)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(13,775)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\">\n<p class=\"prnml20\">\n                <span class=\"prnews_span\">Purchases of intangible assets<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(2,353)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,278)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\">\n<p class=\"prnml20\">\n                <span class=\"prnews_span\">Proceeds from sale of assets<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">91<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">54<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\">\n<p class=\"prnml20\">\n                <span class=\"prnews_span\">Funding of note receivable <\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,400)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,400)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\">\n<p class=\"prnml20\">\n                <span class=\"prnews_span\">Collections on note receivable <\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,125<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\">\n<p class=\"prnml20\">\n                <span class=\"prnews_span\">Funding of note receivable &#8211; related party <\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,000)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\">\n<p class=\"prnml20\">\n                <span class=\"prnews_span\">Proceeds from loans due from related parties<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">128<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\">\n<p class=\"prnml20\">\n                <span class=\"prnews_span\">Other investing activities<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,181)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,444)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(19,441)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(17,715)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Cash flows from financing activities:<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\">\n<p class=\"prnml20\">\n                <span class=\"prnews_span\">Proceeds from public offering<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">57,165<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">49,810<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\">\n<p class=\"prnml20\">\n                <span class=\"prnews_span\">Proceeds from common stock option exercises<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,467<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,586<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\">\n<p class=\"prnml20\">\n                <span class=\"prnews_span\">Withholding of common stock upon vesting of restricted share awards<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(19)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\">\n<p class=\"prnml20\">\n                <span class=\"prnews_span\">Proceeds from common stock warrant exercises<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">486<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\">\n<p class=\"prnml20\">\n                <span class=\"prnews_span\">Payments on notes payable<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(809)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(9)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\">\n<p class=\"prnml20\">\n                <span class=\"prnews_span\">Payments on lease obligations <\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(3,153)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(2,671)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\">\n<p class=\"prnml20\">\n                <span class=\"prnews_span\">Share issuance costs<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(3,368)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(2,862)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">52,283<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">46,340<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Decrease in cash and cash equivalents<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(15,750)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(4,851)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Cash and cash equivalents, beginning of year<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">68,553<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">73,404<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen28\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Cash and cash equivalents, end of period<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen27\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen27\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">52,803<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen27\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen27\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">68,553<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prnsbtb0 prnrbrb0 prnvab prnsbtb0 prnpl6 prnsblb0 prnpr8\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Supplemental disclosures of cash flows from operating activities:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Cash paid for interest<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(145)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(45)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Cash paid for interest on lease obligations<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,115)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(281)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Cash received from interest<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">185<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">994<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Cash received (paid) for taxes<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">14<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,765)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Non-cash purchases of property and equipment<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,291)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,932)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Non-cash purchases of intangibles<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(35)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen28\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Non-cash inventory provision<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen27\">\n              \n            <\/td>\n<td class=\"prngen29\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(2,073)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen27\">\n              \n            <\/td>\n<td class=\"prngen27\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p><\/p>\n<p>\u00a0<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder2\"><\/div>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=TO21408&amp;sd=2021-03-25\" \/> View original content to download multimedia:<a id=\"PRNURL\" rel=\"nofollow\" href=\"http:\/\/www.prnewswire.com\/news-releases\/charlottes-web-holdings-reports-q4-2020-results-301255640.html\">http:\/\/www.prnewswire.com\/news-releases\/charlottes-web-holdings-reports-q4-2020-results-301255640.html<\/a><\/p>\n<p>SOURCE  Charlotte&#8217;s Web Holdings, Inc.<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=TO21408&amp;Transmission_Id=202103250607PR_NEWS_USPR_____TO21408&amp;DateId=20210325\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire Quarterly growth and market share gains BOULDER, Colo., March 25, 2021 \/PRNewswire\/ &#8211; (TSX: CWEB) (OTCQX: CWBHF), Charlotte&#8217;s Web Holdings, Inc. (&#8220;Charlotte&#8217;s Web&#8221; or the &#8220;Company&#8221;), the market share leader in full spectrum cannabidiol (CBD) hemp extract wellness products and a certified B Corp, today reported financial results for the fourth quarter and year ended December\u00a031, 2020. All amounts are expressed in United States dollars unless otherwise noted. Certain metrics, including those expressed on an adjusted basis, are non-IFRS measures, see &#8220;Non-IFRS Measures&#8221; below. 2020 12-Month Financial Highlights Total net revenue increased to $95.2 million vs. $94.6 million in 2019 Direct-to-Consumer (&#8220;DTC&#8221;) eCommerce sales grew 27.6% in 2020 contributing 67.0% of total revenue, substantially offsetting a decline of &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/charlottes-web-holdings-reports-q4-2020-results\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Charlotte&#8217;s Web Holdings Reports Q4-2020 Results&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-464828","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Charlotte&#039;s Web Holdings Reports Q4-2020 Results - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/charlottes-web-holdings-reports-q4-2020-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Charlotte&#039;s Web Holdings Reports Q4-2020 Results - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire Quarterly growth and market share gains BOULDER, Colo., March 25, 2021 \/PRNewswire\/ &#8211; (TSX: CWEB) (OTCQX: CWBHF), Charlotte&#8217;s Web Holdings, Inc. (&#8220;Charlotte&#8217;s Web&#8221; or the &#8220;Company&#8221;), the market share leader in full spectrum cannabidiol (CBD) hemp extract wellness products and a certified B Corp, today reported financial results for the fourth quarter and year ended December\u00a031, 2020. All amounts are expressed in United States dollars unless otherwise noted. Certain metrics, including those expressed on an adjusted basis, are non-IFRS measures, see &#8220;Non-IFRS Measures&#8221; below. 2020 12-Month Financial Highlights Total net revenue increased to $95.2 million vs. $94.6 million in 2019 Direct-to-Consumer (&#8220;DTC&#8221;) eCommerce sales grew 27.6% in 2020 contributing 67.0% of total revenue, substantially offsetting a decline of &hellip; Continue reading &quot;Charlotte&#8217;s Web Holdings Reports Q4-2020 Results&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/charlottes-web-holdings-reports-q4-2020-results\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-25T10:10:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mma.prnewswire.com\/media\/1473594\/Charlotte_s_Web_Holdings__Inc__Charlotte_s_Web_Holdings_Reports.jpg\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"18 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/charlottes-web-holdings-reports-q4-2020-results\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/charlottes-web-holdings-reports-q4-2020-results\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Charlotte&#8217;s Web Holdings Reports Q4-2020 Results\",\"datePublished\":\"2021-03-25T10:10:35+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/charlottes-web-holdings-reports-q4-2020-results\\\/\"},\"wordCount\":3566,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/charlottes-web-holdings-reports-q4-2020-results\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/mma.prnewswire.com\\\/media\\\/1473594\\\/Charlotte_s_Web_Holdings__Inc__Charlotte_s_Web_Holdings_Reports.jpg\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/charlottes-web-holdings-reports-q4-2020-results\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/charlottes-web-holdings-reports-q4-2020-results\\\/\",\"name\":\"Charlotte's Web Holdings Reports Q4-2020 Results - 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/charlottes-web-holdings-reports-q4-2020-results\/","og_locale":"en_US","og_type":"article","og_title":"Charlotte's Web Holdings Reports Q4-2020 Results - Market Newsdesk","og_description":"PR Newswire Quarterly growth and market share gains BOULDER, Colo., March 25, 2021 \/PRNewswire\/ &#8211; (TSX: CWEB) (OTCQX: CWBHF), Charlotte&#8217;s Web Holdings, Inc. (&#8220;Charlotte&#8217;s Web&#8221; or the &#8220;Company&#8221;), the market share leader in full spectrum cannabidiol (CBD) hemp extract wellness products and a certified B Corp, today reported financial results for the fourth quarter and year ended December\u00a031, 2020. All amounts are expressed in United States dollars unless otherwise noted. Certain metrics, including those expressed on an adjusted basis, are non-IFRS measures, see &#8220;Non-IFRS Measures&#8221; below. 2020 12-Month Financial Highlights Total net revenue increased to $95.2 million vs. $94.6 million in 2019 Direct-to-Consumer (&#8220;DTC&#8221;) eCommerce sales grew 27.6% in 2020 contributing 67.0% of total revenue, substantially offsetting a decline of &hellip; Continue reading \"Charlotte&#8217;s Web Holdings Reports Q4-2020 Results\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/charlottes-web-holdings-reports-q4-2020-results\/","og_site_name":"Market Newsdesk","article_published_time":"2021-03-25T10:10:35+00:00","og_image":[{"url":"https:\/\/mma.prnewswire.com\/media\/1473594\/Charlotte_s_Web_Holdings__Inc__Charlotte_s_Web_Holdings_Reports.jpg","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"18 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/charlottes-web-holdings-reports-q4-2020-results\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/charlottes-web-holdings-reports-q4-2020-results\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Charlotte&#8217;s Web Holdings Reports Q4-2020 Results","datePublished":"2021-03-25T10:10:35+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/charlottes-web-holdings-reports-q4-2020-results\/"},"wordCount":3566,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/charlottes-web-holdings-reports-q4-2020-results\/#primaryimage"},"thumbnailUrl":"https:\/\/mma.prnewswire.com\/media\/1473594\/Charlotte_s_Web_Holdings__Inc__Charlotte_s_Web_Holdings_Reports.jpg","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/charlottes-web-holdings-reports-q4-2020-results\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/charlottes-web-holdings-reports-q4-2020-results\/","name":"Charlotte's Web Holdings Reports Q4-2020 Results - 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