Charlotte’s Web signs distribution agreement with Southern Glazer’s Wine & Spirits

Charlotte’s Web Full Spectrum CBD Hemp Extracts Arrive On America’s Leading Spirits Distributor

DENVER, September 26, 2022 /PRNewswire/ – (TSX: CWEB) (OTCQX: CWBHF) Charlotte’s Web Holdings, Inc. (“Charlotte’s Web” or the “Company”), the market leader in cannabidiol (“CBD”) extracted wellness products derived from hemp, has signed a multi-year distribution agreement with Southern Glazer’s Wine & Spirits (“Southern Glazer’s”), the world’s leading distributor of wines and spirits. Charlotte’s Web CBD oil gummies, capsules and tinctures will be available through Southern Glazer’s network of retail customers.

Charlotte’s Web is known for producing the most trusted hemp extract in the worldMT. This distribution agreement brings together the leading American CBD brand with the leading American wine and spirits distribution company. Southern Glazer’s operations in 44 U.S. states and the District of Colombia reach consumers in brick-and-mortar retail stores licensed to sell alcohol, including grocery stores and specialty retailers.

“This exciting relationship is another step in delivering on our promise to evolve our model into key multi-state distribution relationships in new verticals,” said Jacques Tortoroli, CEO of Charlotte’s Web. “Southern Glazer’s large-scale distribution in the food and beverage, specialty beer, wine and spirits, hospitality, and mass merchandise industries meets consumer demand for well-being in this category. I look forward to working closely together to grow our respective businesses.

“We have continued to build our expertise in CBD by providing our suppliers and customers with a trusted distribution experience that allows us to grow this category,” said Kariff Rrooms, Vice President, New Ventures, Southern Glazer’s Wine & Spirits. “The addition of Charlotte’s Web allows us to offer an expanded portfolio of innovative products to our retail customers and continue to grow the exciting CBD category.”

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About Southern Glazer Wines and Spirits

Southern Glazer’s Wine & Spirits is the world’s largest distributor of alcoholic beverages and is proud to be a multi-generational family business. The company does business in 44 US states, the District of Columbia and Canada. In 2021, Southern Glazer’s was selected as America’s Best Managed Company by Deloitte Private and The Wall Street Journalas named by Newsweek in the Top 100 most popular workplaces. Southern Glazer’s urges all retail customers and adult consumers to responsibly market, sell, serve and enjoy its products. For more information, visit www.southernglazers.com. Follow us on Twitter and Instagram @sgwinespirits and on Facebook at Facebook.com/SouthernGlazers.

About Charlotte’s Web Holdings, Inc.

Charlotte’s Web Holdings, Inc., a Certified B Corporation headquartered in Denver, is 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 brand premium products begin with proprietary hemp genetics that are 100% grown in the USA using organic growing practices. The Company’s hemp extracts contain natural botanical compounds, including cannabidiol (“CBD”), CBC, CBG, terpenes, flavonoids and other beneficial compounds. hemp compounds. 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 good as CBD Pet Products for Dogs. Charlotte’s Web products are distributed to over 15,000 retailers, over 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 can be identified by the use of forward-looking terminology such as “plans”, “target”, “expects” or “does not expect”. to”, “is expected”, “an 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”, “occur” or “will be carried out “. In addition, any statements that refer to expectations, projections 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 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 publicly update 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.

SOURCE Charlotte’s Web Holdings, Inc.