(This is an abridged version of a story that appears at Hemp Industry Daily.)
Stanley Brothers Holdings plans to go public in Canada, the latest in a growing list of U.S. firms looking north of the border to raise capital.
The firm is the parent company of Charlotte’s Web, a manufacturer of CBD products that was catapulted into the media spotlight in 2013 when it was featured in the CNN documentary “Weed.”
While the story of Charlotte’s Web garnered international exposure, little has been shared publicly about Stanley Brothers operations and financials – until now.
According to the firm’s preliminary prospectus filing, the company has been steadily posting an annual profit since 2016. Revenue grew from $14.7 million in 2016 to $40 million in 2017, up 172% year-over-year.
The company said it will pursue an IPO, with plans to be listed on the Canadian Securities Exchange. Other recent U.S. firms to take the public plunge in Canada include MedMen Enterprises and Green Thumb Industries.
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