Charlotte, North Carolina–(Newsfile Corp. – October 25, 2023) – cbdMD, Inc. (NYSE American: YCBD) (NYSE American: YCBD-PA) introduced that it’s going to not proceed with the vote scheduled for October 26, 2023 searching for the approval for the automated conversion of its Series A Preferred Stock. The particular assembly scheduled for that date has been cancelled. While the Company believes changing the Series A Preferred Stock is paramount to future development and alternatives, it was unable to acquire adequate “FOR” proxies to satisfy the upper threshold vote requirement beneath the Series A Preferred Stock Certificate of Designation.
Management continues to deal with the business and consider strategic alternate options whereas it really works on a subsequent proposal.
About cbdMD:
cbdMD, Inc. is likely one of the main and most extremely trusted and acknowledged hemp-derived cannabidiol (CBD) manufacturers with a complete line of U.S. produced, THC-free1 CBD merchandise in addition to Full Spectrum and Delta 9 THC merchandise. The cbdMD model at the moment consists of high-quality, premium CBD merchandise together with tinctures, gummies, topicals, capsules, sleep aids and extra. The Company’s Paw CBD model consists of formulated pet merchandise together with tinctures, chews and topicals in various strengths. To be taught extra about cbdMD and the entire line of merchandise, please go to www.cbdmd.com, comply with cbdMD on Instagram and Facebook or go to one of many 1000’s of shops that carry cbdMD merchandise.
Forward-Looking Statements:
This press launch accommodates sure forward-looking statements which can be based mostly upon present expectations and contain sure dangers and uncertainties inside the that means of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements could be recognized utilizing phrases corresponding to “ought to,” “could,” “intends,” “anticipates,” “believes,” “estimates,” “initiatives,” “forecasts,” “expects,” “plans,” and “proposes.” These forward-looking statements usually are not ensures of future efficiency and are topic to dangers, uncertainties, and different elements, a few of that are past our management and tough to foretell. You are urged to rigorously overview and think about any cautionary statements, and different disclosures, together with the statements made beneath the heading “Risk Factors” in cbdMD, Inc.’s Annual Report on Form 10-Ok for the fiscal 12 months ended September 30, 2022 as filed with the Securities and Exchange Commission (the “SEC”) and our different filings with the SEC. All forward-looking statements contain important dangers and uncertainties that would trigger precise outcomes to vary materially from these within the forward-looking statements, a lot of that are typically outdoors the management of cbdMD, Inc. and are tough to foretell. cbdMD, Inc. doesn’t undertake any obligation to update any forward-looking statements besides as could also be required by regulation. The info which seems on cbdMD’s web sites and cbdMD’s social media platforms, together with, however not restricted to, Instagram and Facebook, shouldn’t be a part of this press launch.
1 THC-free is outlined as under the extent of detection utilizing validated scientific analytical instruments.
Contact Information:
cbdMD, Inc.
Ronan Kennedy, Interim CEO & CFO
+1 (704) 445-3064
[email protected]
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