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abacus cbd cream

The merger will create the world’s largest vertically integrated hemp-derived CBD company that owns 35 percent of the CBD market, the two companies said.

“The complementary strengths of our relative market positions made this merger a logical strategic move. With this acquisition we strengthen the business to reflect the evolution of the category,” Charlotte’s Web CEO Deanie Elsner said in a statement. “Together we are the most developed CBD company across every channel and segment and positioned to accelerate our growth and extend our market share. Furthermore, it enables us to drive more scale production through our vertically integrated infrastructure.”

Under the agreement, Abacus shareholders will receive 0.85 of common share of Charlotte’s Web for each Abacus Share held. The exchange ratio represents a 38 percent premium of Abacus’s weighted-average trading price on the Canadian Securities Exchange.

Canadian CBD startup Abacus Health Products, maker of the popular arthritis cream and sports ointment CBDMedic, has found a buyer from Colorado. The Toronto-based company, endorsed by former NFL player Rob Gronkowski, will be acquired by Charlotte’s Web Holdings in a deal valued at $69 million, or C$4.39 ($3.04) per share, Charlotte’s Web announced on Monday.

Abacus stock jumped 27 percent Monday morning on the news, while Charlotte’s Web shares rose five percent.

Rob Gronkowski at a press conference announced he is becoming an advocate for CBD and will partner with Abacus Health Products, maker of CBDMedic Topical Pain Products on August 27, 2019 in New York City. Ilya S. Savenok/Getty Images for CBDMEDIC

“This transaction provides a unique opportunity to our shareholders and employees to participate in the compelling potential of the combined businesses,” Abacus CEO Perry Antelman said in a statement. “By joining with Charlotte’s Web, we have the opportunity to maximize our growth by leveraging the company’s leading brand, vertical integration, infrastructure, expertise, financial position and capital markets presence, and position the combined company to deliver benefits for our stakeholders over the long-term.”

CBD, or cannabidiol, is one of many powerful cannabinoids found in hemp, and is known for supporting body and mind in various ways. Our field is the science of botanics, and as you’ll come to learn, unlocking their power is our primary focus.

High-quality hemp extracts with naturally occurring CBD.

Original formula: INCREDIBLE. With the stresses of work sometimes I find myself unable to calm the mind and sleep peacefully. A dropper full of oil eases the mind and allows me to sleep peacefully. With sleep being integral to overall well being I will never stop using Charlotte’s Web other CBD oils haven’t had the same effect. Life changing product.

Realm of Caring invites you to share your memories of Charlotte

Our friends and charitable partners at the Realm of Caring invite you to share your memories of Charlotte and her impact on all of our lives.

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Our broad-spectrum CBD is a cannabinoid-rich extract derived from the Cannabis sativa L. plant grown in accordance with federal and state laws.
It is non-addictive, non-psychoactive, and THC-free.

Our pain relief products provide safe, fast, and effective relief from minor aches and pains in muscles and joints associated with simple backaches, arthritis, strains, bruises, and sprains for increased comfort and flexibility.

What can I expect when using the products?

Our broad-spectrum CBD is a cannabinoid-rich extract derived from the
Cannabis sativa L. plant grown in accordance with federal and state laws.
It is non-addictive, non-psychoactive, and THC-free.