Former Molson-Coors executive brings international operating and regulatory experience

Charlotte's Web Holdings, Inc. ("Charlotte's Web" or the "Company") (TSX: CWEB) (OTCQX: CWBHF), the market leader in whole-plant hemp extract products with naturally occurring cannabinoids, including cannabidiol ("CBD"), is pleased to announce that Wessel Booysen has joined the Company as Chief Financial Officer (CFO). Mr. Booysen is a top-tier executive with more than a decade of global executive leadership in finance, international expansion and strategic M&A at Molson Coors Beverage Company ("Molson Coors"). He will help lead the Company through its next phase of growth which includes broad international expansion.

In his most recent leadership role at Molson Coors, Mr. Booysen was Chief Executive Officer and Managing Director in Melbourne, Australia leading the businesses in Asia Pacific and Africa to double digit growth over a two-year period with growth in key markets including Australia and Japan, and expansion into new markets including South Korea, Singapore and Hong Kong. Prior to that role he was Vice President and International Chief Financial Officer in Denver for five years overseeing finance, accounting and reporting, business transitions and M&A integrations in Europe, Africa, Asia Pacific and Latin America. Mr. Booysen also led the integration of the international portion of the Miller acquisition (~$12B enterprise transaction).

Before Molson Coors, Mr. Booysen spent 10 years at Deloitte in Assurance and Advisory overseeing mergers & acquisitions, business transformation, public offerings and SEC reporting. His strategic financial advisory roles supported executive leadership teams at multibillion and multinational-dual-US listed clients across the United States, Europe and Africa.

"Wes brings a skill set and leadership style well-suited for our international expansion initiatives and visionary culture. He has an exceptional record for building and developing high performance teams with high engagement on an international basis," said Deanie Elsner, CEO of Charlotte's Web.  "Wes's background in the internationally regulated alcoholic beverage business is highly applicable to our sector. His technical acumen and financial planning & reporting experience will also be instrumental in our forward expansion plans."

Outgoing Chief Financial Officer, Russ Hammer, will retire in August at his two-year anniversary with Charlotte's Web, and will assist Mr. Booysen in a planned two-month transition, serving as Senior Executive Advisor to the CFO during the transition period. "We are grateful to Russ for his enormous commitment and contribution to fully prepare the Company's financial reporting systems for the next chapter in our international growth plan, and we all wish him the best in his well-deserved retirement plans," said Ms. Elsner.

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About Charlotte's Web Holdings, Inc.

Charlotte's Web Holdings, Inc., a Certified B Corporation headquartered in Boulder, Colorado, is the market leader in the production and distribution of innovative hemp-derived cannabidiol ("CBD") wellness products under a family of brands which includes Charlotte's Web™, CBD Medic™, CBD Clinic™, and Harmony Hemp. The Company's premium quality products start with proprietary hemp genetics that are 100-percent American farm grown and manufactured into whole-plant hemp extracts containing a full spectrum of naturally occurring phytocannabinoids including CBD, CBC, CBG, terpenes, flavonoids and other beneficial hemp compounds. Charlotte's Web product categories include CBD oil tinctures (liquid products), CBD gummies (sleep, stress, inflammation 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 14,000 retail, over 8,000 health care practitioners, and online through the Company's website at www.CharlottesWeb.com. Through its vertically integrated business model, Charlotte's Web strives to improve customers' lives and meet their demands for stringent product quality, efficacy and consistency.

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. ‎

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.. Forward looking information should not be read as guarantees of future performance, actions or results.

For additional information with respect to certain of these expectations, assumptions, risks, uncertainties and other factors, and risk factors relating to the Company, reference should be made to the Company's Base Prospectus,, the Company's annual information form dated March 29, 2021 and other continuous disclosure filings, which are available on SEDAR at www.sedar.com. Readers are cautioned not to place undue reliance on this forward looking information, which speaks only as of the date of this news release. The Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking information as a result of new information or future events, or for any other reason.

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