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8-K - CURRENT REPORT - Charlie's Holdings, Inc. | chuc8k_may102021.htm |
Exhibit 99.1
Charlie’s Holdings Names Matt Montesano CFO and Appoints
David Allen to the Board of Directors
Costa Mesa, CA – May 13, 2021 – Accesswire –
Charlie’s Holdings, Inc. (OTC Pink: CHUC)
(“Charlie’s” or the
“Company”),
an industry leader in both the
premium, nicotine-based, e-cigarette space and the hemp-derived,
CBD wellness space, announced today that Matt Montesano has
been appointed Chief Financial Officer effective May 10, 2021. The
Company also announced that David Allen, the Company’s former
CFO, will step down from his daily management duties and will now
serve on Charlie’s Board of Directors.
Since
2014, Matt Montesano has served as the CFO of Charlie’s Chalk
Dust, the Company’s largest and most profitable operating
division; beginning in 2019, he also served as the CFO of Don
Polly, the Company’s hemp-derived products division. Mr.
Montesano has extensive experience in financial and operational
strategy, control system implementation, and all aspects of
financial and SEC reporting. Prior to joining Charlie’s,
Montesano worked for L’Oreal USA in a variety of corporate
finance positions for the company’s Professional Products and
Salon Centric divisions. Earlier, Mr. Montesano worked for KeyBanc
Capital Markets as an investment banker where he focused on debt,
equity and merger and acquisitions transactions in the industrials
space.
“We
are very pleased to name Matt Montesano our new Chief Financial
Officer at this exciting juncture in our Company’s history.
Matt helped create, and is
already leading implementation of, the Company’s strategic
plan” said Brandon Stump, Chief Executive Officer and
Chairman of the Board of Charlie’s. “Matt’s
extensive and proven leadership capabilities, his financial acumen,
capital markets knowledge, and his experience overseeing the
Company’s regulatory investments make him the ideal executive
to assume the role of Charlie’s Holdings’ Chief
Financial Officer.”
Mr.
Stump continued, “We are also pleased to announce that the
Board of Directors has unanimously voted to appoint David Allen to
fill one of the two vacant seats on the Board of Directors of
Charlie’s. Having served as Charlie’s CFO since we
became a publicly traded company through a share exchange in April
2019, David Allen brings more than 24 years of experience as the
Chief Financial Officer of public companies. Now, as he
steps back from day-to-day management responsibilities, we are very
pleased that Dave has agreed to join Charlie’s Board. We are
confident that in this new role Dave will continue to provide
excellent guidance and counsel to the executive management team and
he will contribute substantially in the next chapter of
Charlie’s growth.”
Prior
to joining Charlie’s, Dave Allen served as Chief Financial Officer of Iconic
Brands, Inc. (OTCQB: ICNB). Prior to that, from December 2014 to
January 2018, Mr. Allen served as the Chief Financial Officer of
WPCS International, Inc., a design-build engineering firm focused
on the deployment of wireless networks and related services. From
June 2006 to June 2013, Mr. Allen served as the Chief Financial
Officer and Executive Vice President of Administration at Converted
Organics, Inc., a company organized to convert food waste into
organic fertilizer. In June 2019, Mr. Allen was appointed to the
Board of Directors and serves as audit committee chairman of
MariMed, Inc. (OTC: MRMD).
About Charlie’s Holdings, Inc.
Charlie’s Holdings, Inc. (OTC Pink: CHUC)
is an
industry leader in both the premium, nicotine-based, e-cigarette
space and the hemp-derived, CBD wellness space through its
subsidiary companies Charlie's Chalk Dust, LLC and Don Polly,
LLC. Charlie's Chalk Dust produces high quality vapor products
currently distributed in more than 90 countries around the world.
Charlie's Chalk Dust has developed an extensive portfolio of brand
styles, flavor profiles and innovative product formats. Launched in
June 2019, Don Polly
creates brands and products in the
hemp-derived marketplace aimed to meet the needs of the
ever-evolving wellness consumer. Don
Polly's premium quality CBD products derive from
single-origin-sourced hemp and are processed in a proprietary air
extraction facility.
For additional information, please visit our corporate website
at: CharliesHoldings.com
and our branded online
websites: CharliesChalkDust.com
and PachamamaCBD.com.
Safe Harbor Statement
This press release contains "forward-looking statements" within the
meaning of the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995, including but not limited to
statements regarding the Company's overall business, existing and
anticipated markets and expectations regarding future sales and
expenses. Words such as "expect," "anticipate," "should,"
"believe," "target," "project," "goals," "estimate," "potential,"
"predict," "may," "will," "could," "intend," variations of these
terms or the negative of these terms and similar expressions are
intended to identify these forward-looking statements.
Forward-looking statements are subject to a number of risks and
uncertainties, many of which involve factors or circumstances that
are beyond the Company's control. The Company's actual results
could differ materially from those stated or implied in
forward-looking statements due to a number of factors, including
but not limited to: the Company's ability to successful increase
sales and enter new markets; the FDA’s decision with respect
to the Company’s PMTAs; the Company's ability to manufacture
and produce product for its customers; the Company's ability to
formulate new products; the acceptance of existing and future
products; the complexity, expense and time associated with
compliance with government rules and regulations affecting nicotine
and products containing cannabidiol; litigation risks from the use
of the Company's products; risks of government regulations; the
impact of competitive products; and the Company's ability to
maintain and enhance its brand, as well as other risk factors
included in the Company's most recent quarterly report on Form
10-K, Form 10-Q and other SEC filings. These forward-looking
statements are made as of the date of this press release and were
based on current expectations, estimates, forecasts and projections
as well as the beliefs and assumptions of management. Except as
required by law, the Company undertakes no duty or obligation to
update any forward-looking statements contained in this release as
a result of new information, future events or changes in its
expectations.
Investors Contact:
IR@charliesholdings.com
Phone: 949-418-4020