Charlotte's Web Announces Management Appointments in Finance and Operations

DENVER, April 25, 2022 /PRNewswire/ – (TSX:CWEB) (OTCQX:CWBHF) Charlotte’s Web Holdings, Inc., (“Charlotte’s Web” or the “Company”), the leader in wellness products containing full-spectrum cannabidiol (“CBD”) derived from hemp extract, today announced financial and operational management changes.

Charlotte’s Web (TSX:CWEB) (OTCQX:CWBHF) – The World’s Most Trusted Hemp CBD Extract (CNW Group/Charlotte’s Web Holdings, Inc.)

Charlotte’s Web Board of Directors appointed Lindsey Jensen replace as Chief Financial Officer Wes Booysen leaving the company to pursue other opportunities. These changes are effective today. Ms. Jensen was most recently Vice President of Finance Sales & Operations. Mrs. Jensen joined them Charlotte’s Web in 2019 and has over a decade of financial leadership experience in the consumer packaged goods industry at companies such as Whitewave Foods and Patagonia, Inc.

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

“I am grateful for the service and responsibility Wes has rendered Charlotte’s network,” said Jacques TortoroliCEO of Charlotte’s Network. “I look forward to the incredible future that lies ahead Charlotte’s web 2.0 I couldn’t be happier that Jared will serve as our Chief Operating Officer and continue to inspire our 200+ employees. He was by my side and set our ambition and vision for CW2.0. and is the right person to take on the supply chain in addition to his Cultivation, NPD, Quality and Innovation responsibilities. I am also pleased that Lindsey is leading the finance department. She has a keen understanding of our business and profitability which she can leverage across the organization in her new role.”

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Charlotte’s Web Holdings, Inc., a certified B corporation headquartered in Denveris a leader in innovative hemp extract wellness products under a family of brands that also 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 famously developed a unique CBD hemp extract to help a little girl in need and forever changed global perceptions of hemp’s wellness benefits. With its legendary origins Colorado-based Charlotte’s Web is known worldwide for its patented hemp strains that offer the full spectrum of entourage effects with their whole plant extracts. Charlotte’s Web is often referred to as “the most trusted hemp extract in the world.”

Charlotte’s Webbrands’ premium quality products start with proprietary hemp genetics that are 100 percent grown on American farms and processed into hemp extracts that contain naturally occurring phytocannabinoids such as cannabidiol (“CBD”), CBC, CBG, terpenes, flavonoids, and other beneficial hemp compounds. CW Labs’ R&D department advances hemp science through two centers of excellence in Louisville, Coloradoand the Hauptmann Woodward Research Institute at the University of Buffalopart of State University of New York (sunny) network. Charlotte’s Product categories on the web include full-spectrum hemp CBD oil tinctures (liquid products), CBD gummies (sleep, stress, physical recovery), CBD capsules, CBD topical creams and lotions, and CBD pet products for dogs. Through its vertically integrated business model Charlotte’s Web maintains tight control over product quality and consistency. In The United States, Charlotte’s Web products are distributed to more than 15,000 retailers, more than 8,000 healthcare practitioners and online through the company’s website at www.CharlottesWeb.com.

Forward-Looking Information

Certain information 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 instances, but not necessarily all instances, forward-looking information can be identified through the use of forward-looking terminology such as “plan”, “target”, “expect” or “does not expect”, “is expected”. , “an opportunity exists,” “is positioned,” “estimates,” “intends,” “anticipates,” “anticipates,” or “does not anticipate,” or “believes,” or variations of such words and phrases or statements, that certain actions, Events or results “may”, “could”, “would”, “could”, “will” or “be met”, “occur” or “be achieved”. In addition, all statements that address expectations, forecasts or other characterizations of future events or circumstances contain forward-looking information. ‎Specifically, this press release contains forward-looking information, relating to, among other things: the future of Charlotte’s Web and the Impact of Management Changes.

Statements that contain forward-looking information are not historical facts, but instead represent management’s current expectations, estimates and projections regarding the future of our business, future plans, strategies, forecasts, anticipated events and trends, the economy and other future conditions Forward-looking information is necessarily based on a number of opinions, assumptions and estimates, which, while believed to be reasonable by the Company as of the date of this press release, are subject to known and unknown risks, uncertainties, assumptions and other factors that could cause the actual results, level of activity, performance or achievements differ materially from those expressed or implied in such forward-looking information. Significant factors and assumptions used in developing the forward-looking information contained herein include, among others, the following: the impact of the COVID-19 pandemic; the regulatory environment in which the company currently operates and may operate in the future; consumer interest in CBD; successful sale 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 contained in the forward-looking information include, among others, those factors discussed in the “Risk Factors” section of the Company’s most recently filed annual report on Form 10-K discussed for the past year December 31, 2021 available at www.SEDAR.com and www.sec.gov, and other risk factors included in other filings 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 publicly update any forward-looking information, whether written or oral, made from time to time, whether as a result of new information, future developments or otherwise.

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SOURCE Charlotte’s Web Holdings, Inc.