Research Assesses CBD and CBN's Potential to Support Improved Sleep

Charlotte's Web Holdings, Inc. ("Charlotte's Web" or the "Company"), the market leader in hemp CBD wellness products and a Certified B Corporation, today announced the collaboration of its CW Labs division on a preclinical sleep and anxiety study with the University of Colorado-Boulder's REACH (Research and Education Addressing Cannabis and Health) Center. The scientific investigation uses the Company's full spectrum hemp formulations with CBN (cannabinol) and CBD (cannabidiol) and levels of THC below 0.3% to examine the impact on anxiety and sleep quality. The Company is the only hemp CBD brand supporting the University of Colorado REACH Center's milestone study.

There is limited published preclinical or clinical data on phytocannabinoids other than CBD and THC, especially their effect at levels available in commercially sold hemp-derived CBD supplements. There is some anecdotal evidence on the ability of CBN to help with sleep but little substantiated clinical or preclinical evidence to validate these pervasive claims. Long term, it is anticipated that this study will inform future clinical initiatives to better understand how specific ratios of cannabinoids and different delivery formats are effective at supporting improved sleep quality and instilling healthier sleep architecture in humans.

"Charlotte's Web is committed to advancing science on the benefits and safety of CBD and other hemp phytocannabinoids through rigorous scientific investigations such as this sleep and anxiety study," said Tim Orr, Senior Vice President of Charlotte's Web and President of its CW Labs division, which currently has more than a dozen scientific research studies underway. "We're honored to team up with CU's REACH Center to explore the potential impacts of full-spectrum hemp extract with CBD and CBN on anxiety and sleep quality."

Monika Fleshner, PhD, Professor of Integrative Physiology, and a member of the Center for Neuroscience at the University of Colorado – Boulder is the project lead, and this preclinical study will be conducted in her Stress Physiology Laboratory.   

"There is a great need for properly controlled experimental studies that are designed to test the potential neural and physiological impacts of hemp derived phytocannabinoids. With support from CU REACH and Charlotte's Web, our research will explore both the efficacy and mechanisms of how these substances can affect complex brain-mediated behavior, such as disturbed sleep."

About CU REACH:

The CU Center for Research and Education Addressing Cannabis and Health (CU REACH) is a rigorous, multidisciplinary center that is devoted to the development of evidence-based knowledge regarding the effects of Cannabis. The CU REACH research community has received almost $16 million in federal (NIH) and Colorado state funding for groundbreaking cannabis research, and there are an additional $12 million in grants currently under review.

The ultimate objective of CU REACH research is to provide empirical data that will reduce harm and improve lives, in particular the lives of those who suffer from disease states that may be alleviated by Cannabis. Center faculty are diverse, examining the effects of Cannabis at the genetic, molecular, neural, behavioral, and dynamic social systems levels of analysis. Their community currently conducts research in four mutually supporting areas: Cannabis plant genomics and chemical analyses, biomedical pre-clinical and clinical research, risk reduction, and information science.

For more information about CU REACH: https://www.colorado.edu/center/reach/ 

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About Charlotte's Web Holdings, Inc. 

Founded in 2013 by the pioneering Stanley Brothers, Charlotte's Web's mission is to unleash the healing powers of botanicals through compassion and science, benefitting the planet and all who live upon it.  Charlotte's Web Holdings, Inc., a Certified B Corporation headquartered in Boulder, Colorado, is the world's most trusted hemp extract.  The Charlotte's Web family of brands includes Charlotte's Web™, CBD Medic™, CBD Clinic™, and Harmony Hemp™. The Company's premium quality wellness products start with proprietary hemp genetics that are 100-percent American farm grown under certified organic practices and manufactured into whole-plant hemp extracts containing a full spectrum of naturally occurring phytocannabinoids including CBD, CBN, CBC, CBG, terpenes, flavonoids and other beneficial hemp compounds.  Charlotte's Web product categories include  CBD oil tinctures , CBD gummies, CBD capsules,CBD topical creams and lotions, as well asCBD pet products for dogs. Charlotte's Web is the number one selling CBD brand in the U.S. and is distributed through more than 22,000 retail locations, select distributors 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. The Company weighs sound business decisions with consideration for how its efforts impact its employees, customers, the environment, and underserved communities. Charlotte's Web donates a portion of its pre-tax earnings to numerous charitable organizations in support of the greater good.

Forward-Looking Information

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Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information, including assumptions as to the efficacy and results of research; and the adverse impact of the COVID-19 pandemic to the Company's operations. These foregoing lists are not exhaustive. Additional information on these and other factors which could affect the Company's operations or financial results are included in the Company's most recent annual information form and other public documents on file with the Canadian Securities regulatory authorities on www.sedar.com.