Charlotte's Web Signs Distribution Agreement with Southern Glazer's Wine & Spirits

Charlotte's Web Full Spectrum CBD Hemp Extracts Coming to Leading U.S. Spirits Distributor

DENVER, Sept. 26, 2022 /PRNewswire/ - (TSX: CWEB) (OTCQX: CWBHF) Charlotte's Web Holdings, Inc. ("Charlotte's Web" or the "Company"), the market leader in hemp-derived cannabidiol ("CBD') extract wellness products, has signed a multi-year distribution agreement with Southern Glazer's Wine & Spirits ("Southern Glazer's"), the world's premier distributor of wine and spirits. Charlotte's Web CBD gummies, capsules and oil tinctures will be available through Southern Glazer's retail customer network.

Charlotte's Web is known for producing The World's Most Trusted Hemp Extract^TM. This distribution agreement brings together America's leading CBD brand with America's leading wine and spirits beverage distribution company. Southern Glazer's operations in 44 U.S. states and the District of Columbia reach consumers at mainstream retail stores licensed to sell alcohol including grocery and specialty retailers.

"This exciting relationship is another step in delivering on our promise to shift our model to key multi-state distributor relationships in new industry verticals," said Jacques Tortoroli, Chief Executive Officer of Charlotte's Web. "Southern Glazer's large-scale distribution within food and beverage, specialty beer, wine and spirits retail, hospitality and big box retail addresses consumer demand for wellness options in this category. I look forward to working closely to grow our respective businesses."

"We've continued to build on our expertise in CBD by providing our suppliers and customers with a trusted distribution experience that enables us to grow this category," said Kariff Rhooms, Vice President, New Ventures, Southern Glazer's Wine & Spirits. "Adding Charlotte's Web enables us to bring an expanded portfolio of innovative products to our retail customers and continue to grow the exciting CBD category."

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Southern Glazer's Wine & Spirits is the world's preeminent distributor of beverage alcohol, and proud to be a multi-generational, family-owned company. The Company has operations in 44 U.S. states, the District of Columbia, and Canada. In 2021, Southern Glazer's was selected as a U.S. Best Managed Company by Deloitte Private and The Wall Street Journal, as well as named by Newsweek as a Top 100 Most Loved Workplace. Southern Glazer's urges all retail customers and adult consumers to market, sell, serve, and enjoy its products responsibly. For more information visit www.southernglazers.com. Follow us on Twitter and Instagram @sgwinespirits and on Facebook at Facebook.com/SouthernGlazers.

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 which includes Charlotte's Web™, CBD Medic™, CBD Clinic™, and Harmony Hemp™. Charlotte's Web branded premium quality products start with proprietary hemp genetics that are 100-percent American farm-grown using organic cultivation practices. The Company's hemp extracts have naturally occurring 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, CBD topical creams and lotions, as well as CBD pet products for dogs. Charlotte's Web products are distributed to more than 15,000 retail, over 8,000 health care practitioners, 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 information relating to, among others: the future of Charlotte's Web and the impacts of management changes.

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 forward-looking information. The material factors and assumptions used to develop the forward-looking information 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 in the future operate; 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 indicated in the forward-looking information include, among others, the factors discussed throughout the "Risk Factors" section of the Company's most recently filed Annual Report 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 filings with the Securities and Exchange Commission available on www.sec.gov and filings with Canadian securities regulatory authorities available on 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, that may be made from time to time, whether as a result of new information, future developments or otherwise.

SOURCE Charlotte's Web Holdings, Inc.