Charlotte’s Web Announces Finance and Operations Director Appointments

DENVER, April 25, 2022 /CNW/ – (TSX: CWEB) (OTCQX: CWBHF) Charlotte’s Web Holdings, Inc. (“Charlotte’s Web” or the “Company”), the market leader in full-spectrum cannabidiol (“CBD”) hemp extract wellness productstoday announced leadership changes in finance and operations.

Charlotte’s Web’s Board of Directors has appointed Lindsey Jensen as replacement CFO Wes Booysen who leaves the Company to pursue other opportunities. These changes are effective today. Ms. Jensen was most recently Vice President of Finance, Sales and Operations. Ms. Jensen joined Charlotte’s Web in 2019 and has over a decade of financial leadership experience in the consumer packaged goods industry at companies including Whitewave Foods and Patagonia, Inc.

Jared Stanley, Charlotte’s Web’s co-founder and Chief Culture & Innovation Officer has been named Chief Operating Officer. Ray Kunkel, Vice President of Supply Chain, will report to Mr. Stanley. Mr. Kunkel joined the company in 2019 and has years of supply chain experience, including over twenty years with Procter & Gamble and six years with Perrigo.

“I am grateful for the service and stewardship Wes has provided Charlotte’s Internet,” said Jacques TortoroliCEO of Charlotte’s The Web. “I look forward to the incredible future that awaits us at Charlotte’s Web 2.0. I couldn’t be happier to have Jared take on the role of COO and continue to inspire our more than 200 employees. He was by my side to define our ambition and our vision for CW2.0. and is the right person to take on the supply chain in addition to his responsibilities leading culture, NPD, quality and innovation. I’m also thrilled to have Lindsey as the head of finance. She has a deep understanding of our business and our economy that can be leveraged across the business in her new role.”

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On Charlotte’s Web Holdings, Inc.

Charlotte’s Web Holdings, Inc., a Certified B Corporation headquartered in denveris the market leader in innovative hemp extract-based wellness products under a family of brands that includes Charlotte’s Web™, CBD Medic™, CBD Clinic™ and Harmony Hemp™.

Charlotte’s Web was founded by the seven Stanley Brothers in 2013, when they developed a unique CBD hemp extract to help a little girl in need, and forever changed global perceptions of the wellness benefits of hemp. With its legendary origins, Colorado-based Charlotte’s Web is widely recognized around the world for its patented hemp cultivars that provide full-spectrum entourage effects from its whole plant extracts. Charlotte’s The web is often referred to as “the world’s most trusted hemp extract”.

Charlotte’s Web-branded premium products begin with proprietary hemp genetics that are grown and manufactured 100% on US farms in hemp extracts containing natural phytocannabinoids including cannabidiol (“CBD”), CBC, CBG , terpenes, flavonoids and other beneficial hemp compounds. The company’s CW Labs R&D division advances hemp science in two centers of excellence in Louisville, Coloradoand the Hauptmann Woodward Research Institute in University at Buffalopart of the State University of New York (SUNY) network. Charlotte’s Web Product Categories Include Full Spectrum Hemp CBD oil tinctures (liquid products), CBD gummies (sleep, stress, exercise recovery)CBD capsules, Topical CBD creams and lotionsas well as CBD Pet Products for Dogs. Thanks to its vertically integrated business model, Charlotte’s Web maintains rigorous control over product quality and consistency. In United States, Charlotte’s Web products are distributed to more than 15,000 retailers, more than 8,000 healthcare professionals, and online through the company’s website at www.CharlottesWeb.com.

Forward-looking information

Certain information contained in this press release constitutes forward-looking statements and forward-looking information within the meaning of applicable securities laws (collectively, “Forward-Looking Information”). In some, but not necessarily all, cases, forward-looking information may be identified by the use of forward-looking terminology such as “plans”, “targets”, “expects” or “does not expect to ‘, ‘is expected’, ‘opportunity exists’, ‘is positioned’, ‘estimates’, ‘intends’, ‘assumes’, ‘anticipates’ or ‘does not anticipate’ or ‘believes’, or variations of these words and phrases or states that certain actions, events or results “may”, “could”, “will”, “could”, “will” or “will be taken”, “will occur” or “will be carried out” . In addition, any statement that refers to expectations, projections or other characterizations of future events or circumstances contains forward-looking information. ‎Specifically, this press release contains forward-looking information regarding, among other things: the future of Charlotte’s Web and the impacts of management changes.

Statements containing forward-looking information are not historical facts, but rather represent management’s current expectations, estimates and projections regarding the future of our business, future plans, strategies, projections, expected events and trends, the economy and other future conditions. Forward-looking information is necessarily based on a number of opinions, assumptions and estimates which, although considered reasonable by the Company as of the date of this press release, are subject to risks, uncertainties, assumptions and other known and unknown factors that may cause actual results, level of activity, performance or achievements to differ materially from those expressed or implied by such forward-looking information. Important factors and assumptions used in developing the forward-looking information contained herein include, but are not limited to, the following: the impact of the COVID-19 pandemic; the regulatory climate in which the Company currently operates and may operate in the future; consumer interest in CBD; successful sales of the Company’s products; and the success of sales and marketing activities. Important factors that could cause actual results and financial condition to differ materially from those set forth in the forward-looking information include, among others, the factors discussed in the “Risk Factors” section of the Company’s most recent annual report filed on Form 10-K. for the year ended December 31, 2021 Available on www.SEDAR.com and www.sec.gov and other risk factors contained in other documents filed with the Securities and Exchange Commission available at www.sec.gov and filings with Canadian securities regulators available at www.sedar.com. Except as required by applicable securities laws, the Company undertakes no obligation to update publicly any forward-looking information, whether written or oral, which may be made from time to time, whether as a result of new information, future developments or otherwise.

THE SOURCE Charlotte’s Web Holdings, Inc.

For further information: Cory Pala, Director of Investor Relations, (720) 484-8930, [email protected]

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