Charlotte's Web Holdings, Inc. ("Charlotte's Web", or the "Company") (TSX: CWEB)  (OTCQX: CWBHF), the market leader in hemp CBD extract products, announces today that, in order to replace its prior base shelf prospectus that will expire on May 10, 2021, it has filed a preliminary short form base shelf prospectus with the securities commissions in each of the provinces and territories of Canada.

The base shelf prospectus, when made final, will allow the Company to ‎qualify the distribution by way of prospectus in Canada of up to C$350 million of common shares, preferred ‎shares, warrants, subscription receipts, units, or any combination thereof, during the 25-month period that ‎the base shelf prospectus is effective. The specific terms of any offering under the base shelf prospectus will ‎be established in a prospectus supplement, which will be filed with the applicable Canadian securities ‎regulatory authorities in connection with any such offering. ‎

A copy of the preliminary short form base shelf prospectus can be found on SEDAR at www.sedar.com.

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. The Company's CW Labs R&D science division is located at the University at Buffalo in New York which is part of the State University of New York (SUNY) system of 64 universities. 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 is the number one CBD brand in the USA 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 was founded by the 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.

Subscribe to Charlotte's Web investor news.

Forward-Looking Information

This news release contains forward-looking statements and information within the meaning of applicable securities legislation. Often, but not always, forward-looking statements and information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "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" or "will" be taken, occur or be achieved. Forward-looking statements or information  involve known and unknown  risks, uncertainties  and  other factors  which may cause the actual results, performance or achievements of Charlotte's Web to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements or information contained in this news release.

Specifically, this news release contains forward-looking statements relating to, but not limited to: obtaining a receipt for the base shelf prospectus, for the amount and securities currently stated; and the filing of a prospectus supplement in the future. 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 ability to obtain regulatory approval, availability of financing opportunities in favourable market conditions, 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. 

The forward-looking statements represent the Company's views as at the date of this news release. There can be no assurance that forward-looking statements will prove to be accurate, as actual events and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on any forward-looking statement. The Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities law.