Expands retail reach by more than 800 Walmart locations

LOUISVILLE, Colo., June 26, 2024 /PRNewswire/ - (TSX: CWEB) (OTCQX: CWBHF) Charlotte's Web Holdings, Inc. ("Charlotte's Web" or the "Company"), the leader in hemp-derived CBD wellness products, is pleased to announce that its products are now available at Walmart. Starting this month, consumers will find Charlotte's Web CBD topical products in 827 Walmart stores across five states including California, Illinois, Florida, Texas, and Pennsylvania.

The new retail distribution at Walmart expands Charlotte's Web CBD wellness presence at an affordable price point, unlocking both value and accessibility for the Walmart customer.

"We are proud to introduce CBD topicals at Walmart, reflecting Charlotte's Web's dedication to setting new standards of excellence in the CBD industry, ensuring every Walmart shopper can experience the transformative benefits of our meticulously crafted products. We are not only broadening our retail footprint but also reinforcing our mission to innovate and elevate the consumers' wellness journeys through science-backed CBD solutions," says Bill Morachnick, CEO of Charlotte's Web.

The new line of competitively priced CBD topicals is formulated with CBD isolate. The collection includes a balm stick, a cream, and a cooling gel, each containing 1,000 mg of concentrated CBD isolate. These are blended with soothing and cooling ingredients including menthol, camphor, and aloe vera. All products are non-GMO, cruelty-free, sulfate-free, paraben-free, and formulated without major allergens.

About Charlotte's Web Holdings, Inc.

Charlotte's Web Holdings, Inc., a Certified B Corporation headquartered in Louisville, Colorado, is the market leader in innovative hemp extract wellness products that includes Charlotte's Web whole-plant full-spectrum CBD extracts as well as broad-spectrum CBD certified NSF for Sport. Charlotte's Web is the official CBD of Major League Baseball, Angel City Football Club and the Premier Lacrosse League. Charlotte's Web branded premium quality products start with proprietary hemp genetics that are North American farm-grown using organic and regenerative cultivation practices. The Company's hemp extracts have naturally occurring botanical compounds including cannabidiol ("CBD"), CBN, CBC, CBG, terpenes, flavonoids, and other beneficial compounds. Charlotte's Web product categories include CBD oil tinctures (liquid products) CBD gummies (sleep, calming, exercise recovery, immunity), CBN gummies, 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 analytic testing from soil to shelf 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 .

Forward-Looking Information

Certain information provided herein constitutes forward-looking statements or information (collectively, "forward-looking statements") within the meaning of applicable securities laws. Forward-looking statements are typically identified by words such as "may", "will", "should", "could", "anticipate", "expect", "project", "estimate", "forecast", "plan", "intend", "target", "believe" and similar words suggesting future outcomes or statements regarding an outlook. Forward-looking statements are not guarantees of future performance and readers are cautioned against placing undue reliance on forward-looking statements. This press release includes forward-looking statements. By their nature, these statements involve a variety of assumptions, known and unknown risks and uncertainties, and other factors which may cause actual results, levels of activity, and achievements to differ materially from those expressed or implied by such statements. The forward-looking statements contained in this press release are based on certain assumptions and analysis by management of the Company in light of its experience and perception of historical trends, current conditions and expected future development and other factors that it believes are appropriate and reasonable.

The material factors and assumptions used to develop the forward-looking statements herein include material risk factors that could cause actual results to differ materially from the forward-looking statements including, among others, general economic and market risks, cyber-security risks and those risks and uncertainties discussed under the heading "Risk Factors" in the Company's Annual Report on Form 10-K for the year ending December 31, 2023, 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 . The impact of any one risk, uncertainty, or factor on a particular forward-looking statement is not determinable with certainty as these are interdependent, and the Company's future course of action depends on management's assessment of all information available at the relevant time.

Any forward-looking statement in this press release is based only on information currently available to the Company and speaks only as of the date on which it is made. Except as required by applicable law, the Company assumes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. All forward-looking statements, whether written or oral, attributable to the Company or persons acting on the Company's behalf, are expressly qualified in their entirety by these cautionary statements.

SOURCE Charlotte's Web Holdings, Inc.