Charlotte's Web CBD Catches Excitement with New Botanical Lifestyle Brand, ReCreate™

Designed for young and active wellness seekers, ReCreate is formulated from
NSF-certified broad spectrum hemp CBD extracts

DENVER, April 18, 2023 /PRNewswire/ - (TSX: CWEB) (OTCQX: CWBHF) Charlotte's Web Holdings, Inc. ("Charlotte's Web" or the "Company"), the market leader in cannabidiol ("CBD") hemp extract wellness products is strategically expanding its portfolio of brands with the introduction of ReCreate™, a mainstream lifestyle destination for Millennials and GenZers with attractively priced broad-spectrum products that leverage the scientific rigor, quality, and transparency that Charlotte's Web is renowned for. With a focus on meeting the needs of younger consumers who value natural wellness solutions, ReCreate increases access to NSF-certified broad-spectrum CBD and functional botanical products versus synthetic cannabinoid and isolate CBD options.

"ReCreate by Charlotte's Web™ initially launching for sports and fitness represents the first step in its expansion into lifestyle cultural verticals," said Jacques Tortoroli, CEO. "The brand strategy is poised to capitalize on the growing trend of CBD infused functional botanical wellness formulations for self-care and mental well-being among Millennials and GenZers, who make up approximately 47% of a multi-billion-dollar CBD market¹." 

ReCreate aligns with the Company's partnership with Major League Baseball and its innovation commitment to NSF Certified for Sport™ CBD products. Charlotte's Web plans to promote ReCreate products as part of its league sponsorship across MLB media platforms such as MLB.com & MLB Network and at MLB Jewel Events including All-Star Week and the World Series presented by Capital One. The digitally native brand will launch its teaser CBD tincture on www.RecreateYou.com at the top of the season and release innovative new product formulations and formats later this year. ReCreate products have secured early interest from leading retailers including Fresh Thyme, The Vitamin Shoppe, and will also be distributed through Southern Glazer's Wine & Spirits, to be introduced this Fall.

"The shared ethos of Charlotte's Web and MLB's partnership recognizes the importance of an athlete's mental state in achieving greatness," said Jared Stanley, Co-Founder and COO of Charlotte's Web. "Through ReCreate's innovative products, professionals, fitness enthusiasts, and novices can revolutionize their approach to sports by enhancing a calm and focused mind, while also helping to promote recovery, sleep, brain support, and energy."

Millennials and GenZers are anticipated to become the largest consumer group by 2026² and often view sports and fitness as a form of self-care. They have experienced life during swift cultural and global changes that have influenced their view of wellness as a balanced state of mental, physical, social, and spiritual health. This includes their social lives, work/life balance, sleep, exercise, nutrition, and above all else, mental well-being.

ReCreate broad spectrum CBD extracts are derived from Charlotte's Web patented hemp cultivars. ReCreate's best-in-class formulations combine the benefits of whole-plant hemp extract with botanicals and other functional ingredients to help consumers achieve targeted experiences.

ReCreate is a mission-driven brand committed to sourcing organic and responsible ingredients, integrating sustainable packaging and practices, and creating strong community partnerships that foster equity in the natural wellness space.

Charlotte's Web Holdings, Inc., a Certified B Corporation headquartered in Denver, is the market leader in innovative hemp extract wellness products under a family of brands that includes Charlotte's Web™, CBD Medic™, and CBD Clinic™.  Charlotte's Web whole-plant CBD extracts come in full-spectrum and broad-spectrum (THC-free) options, including the world's only broad-spectrum CBD certified NSF for Sport®, which is the official CBD of Major League Baseball©. Founded by the seven Stanley Brothers, Charlotte's Web ignited the CBD industry when the brothers came to global prominence with the coverage of a young girl's astounding reaction to their hemp extract. Their advocacy changed laws, public perception, and research around the vast health potential of plant-based solutions. The Stanleys built their business with the mission to bring botanical options to health seekers worldwide. Charlotte's Web branded premium quality products start with proprietary hemp genetics that are American farm-grown using organic and regenerative cultivation practices. The Company's hemp extracts have naturally occurring botanical compounds including cannabidiol ("CBD"), CBC, CBG, terpenes, flavonoids, and other beneficial compounds. The Company's CW Labs R&D division advances hemp science at a center of excellence in Louisville, Colorado. Charlotte's Web product categories include CBD oil tinctures (liquid products) CBD gummies (sleep, stress, exercise recovery), CBD capsules, CBD topical creams and lotions, as well as CBD pet products for dogs.  Through its substantially vertically integrated business model, Charlotte's Web maintains stringent control over product quality and consistency with 20+ product lot testing for quality assurance. Charlotte's Web products are distributed to retailers and health care practitioners throughout the U.S.A, and online through the Company's website at www.charlottesweb.com. 

Certain information in this news release constitutes forward-looking statements and forward-looking information within the meaning of applicable securities laws (collectively, ‎‎"forward-looking information"). In some cases, but not necessarily in all cases, forward looking information can be identified by the ‎use of forward-looking terminology such as "plans", "targets", "expects" or "does not expect", "is expected", "an opportunity exists", ‎‎"is positioned", "estimates", "intends", "assumes", "anticipates" or "does not anticipate" or "believes", or variations of such words and ‎phrases or state that certain actions, events or results "may", "could", "would", "might", "will" or "will be taken", "occur" or "be ‎achieved". In addition, any statements that refer to expectations, projections or other characterizations of future events or ‎circumstances contain forward-looking information. ‎ Specifically, this ‎news release contains forward-looking statements relating to, among others, the successful launch of the new ReCreate brand.

Statements containing 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, projections, anticipated events ‎and trends, the economy and other future conditions. Forward-looking information is necessarily based on a number of opinions, ‎assumptions and estimates that, while considered reasonable by the Company as of the date of this news release, are subject to ‎known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, ‎performance or achievements to be materially different from those expressed or implied by such statements containing forward-looking information. Although these statements containing forward-looking information are based on assumptions the Company considers to be reasonable based on the information ‎available on the date such statements are made, such statements are not guarantees of future performance and readers are cautioned ‎against placing undue reliance on forward-looking information. 

The material factors and assumptions used to develop the forward-looking information herein include, but are not limited to, international and political considerations; regulatory changes; ‎and the factors discussed throughout the "Risk Factors" section of the Company's most recently filed annual information form available on www.SEDAR.com and in the Company's most recently filed Annual Report on Form 10-K and quarterly report on Form 10-Q as amended, and other filings with the Securities and Exchange Commission available on www.SEC.gov. Except as required by applicable securities laws, the Company undertakes no obligation to publicly update any forward-looking information, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

Charlotte's Web Holdings, Inc.
THE WORLD'S MOST TRUSTED HEMP EXTRACT™

SOURCE Charlotte's Web Holdings, Inc.

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