Charlotte's Web Signs Exclusive UK Distribution Agreement with Savage Cabbage

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Mar 21, 2022, 09:40 ET

The world's best-selling CBD brand is partnering with a leading British CBD distributor as the UK hemp extract market continues to grow

DENVER, March 21, 2022 /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, has signed an exclusive product distribution agreement in the United Kingdom with Savage Cabbage Ltd., one of the oldest and most trusted CBD companies in the UK, serving an active and loyal customer base of wellness seekers.

Savage Cabbage is a Member of EIHA (European Industrial Hemp Association) and has been the official UK distributor of Charlotte's Web CBD since 2016, in alignment with its three founding pillars: Quality, Consistency and Reliability. Under the new agreement, Savage Cabbage will continue to sell a large portfolio of Charlotte's Web whole-plant, full spectrum products that contain all the beneficial compounds that exist in the hemp plant as well as CBD.

Savage Cabbage will be utilizing its extensive network in the UK to expand the presence of Charlotte's Web as the Novel Foods regulatory framework continues to progress. Currently operating in the ecommerce space, the partnership will focus on expanding the presence of Charlotte's Web in retail distribution channels and on the high street, with a growing number of notable retailers starting to include CBD products on their shelves.

Jade Proudman is the founder and CEO of Savage Cabbage, who credits Charlotte's Web CBD Oil with "saving her life". She is an influential voice in the UK & European CBD community, while also being a Global Ambassador of Charlotte's Web. UK-based CannabisWealth and Cannabis Health News media recently named Mrs. Proudman as one of top 40 inspirational women in the cannabis industry.

"As the demand for CBD products continues to rise around the globe, it is critical that consumers continue to better understand how CBD products work and the benefits of hemp botanical wellness through nature. Savage Cabbage has shared similar values as Charlotte's Web since inception and we are excited to start expanding our presence in the UK market beyond ecommerce," said Jacques Tortoroli, CEO of Charlotte's Web. "We are pleased to extend our relationship with exclusivity for one of our long-standing international partners. As the #1 selling CBD brand in the US, the UK is one of the most exciting international CBD markets and we look forward to building our presence here."

"I'm delighted to commence the new phase of our long-standing relationship with Charlotte's Web. We have shared a vision– providing high quality CBD products to consumers in the UK and helping people to live better, naturally," said Jade Proudman, Founder and CEO of Savage Cabbage. "Many consumers are of the belief that all CBD products are equal. Since 2016, we have seen firsthand the benefits of full spectrum hemp extract products like Charlotte's Web within our community. These products offer benefits where many other CBD isolate products don't, and we will continue to champion greater consumer choice and access to products that represent the very best of Mother Nature. As Aristotle once said, 'the whole is greater than the sum of its parts'."

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About Savage Cabbage Ltd.
A trusted provider of hemp, health and wellness, Savage Cabbage is one of the oldest CBD companies in the UK. Savage Cabbage focuses on a highly curated range of all-natural, full spectrum hemp extract products containing CBD and an array of other beneficial plant compound to offer the Entourage Effect, the way nature intended. Savage Cabbage is focused on a human-centric approach to support consumers on their self-care journey with industry renowned customer care services.

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 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 and manufactured into hemp extracts containing naturally occurring phytocannabinoids including cannabidiol ("CBD"), CBC, CBG, terpenes, flavonoids, and other beneficial hemp compounds. The Company's CW Labs R&D division, advances hemp science at two centers of excellence in Louisville, Colorado, and the Hauptmann Woodward Research Institute at the University at Buffalo, part 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, CBD topical creams and lotions, as well as CBD pet products for dogs. Through its vertically integrated business model, Charlotte's Web maintains stringent control over product quality and consistency. 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.

Charlotte's Web is a science-driven and a socially and environmentally conscious company. It is committed to using business as a force for good and a catalyst for innovation. Charlotte's Web donates a portion of its pre-tax earnings to numerous charitable organizations in support of the greater good.

Charlotte's Web was founded by the seven Stanley Brothers with a mission to unleash the healing powers of botanicals through compassion and science, benefiting the planet and all who live upon it. Charlotte's Web is a socially and environmentally conscious company and is committed to using business as a force for good and a catalyst for innovation. The Company weighs sound business decisions with consideration for how its efforts affect employees, customers, the environment, and diverse communities. The rate the Company pays for agricultural products reflects a fair and sustainable rate driving higher quality yield, encouraging regenerative farming practices, and supporting U.S. farming communities. Management believes that its socially oriented and environmentally responsible actions have a positive impact on its customers, suppliers, employees and stakeholders. Charlotte's Web donates a portion of its pre-tax earnings to charitable organizations.

Forward-Looking Information

Certain information in this news release constitutes forward-looking statements and forward-looking information (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 the Company's expansion activities and growth strategy; the Company's expectations regarding future cash flow and its financial position; the results of cost saving efforts; the impact and results of the Company's reorganization; market share expectations; and impacts of regulatory 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. 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 information form available on www.SEDAR.com and in the Company's most recently filed Form 10, as amended, and other filings with the Securities and Exchange Commission available on www.SEC.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.