Press Release Details

Charlotte's Web Engages Hanson Faso Sales and Marketing, Inc. for the Central United States

August 9, 2022

DENVER, Aug. 9, 2022 /CNW/ - (TSX: CWEB) (OTCQX: CWBHF) Charlotte's Web Holdings, Inc. ("Charlotte's Web," "CW" or the "Company"), the market leader in full-spectrum hemp-derived CBD products, is expanding in the central United States in partnership with Hanson Faso Sales and Marketing Inc. ("Hanson Faso"), leading brokers in the sales and marketing of specialty, natural, confection and perishable foods. Hanson Faso accesses thousands of retail customer locations across specialty, grocery, natural, mass merchants, drug accounts, food service, alternate channel and gift packers. The partnership aims to significantly increase the number of salespeople representing Charlotte's Web products at retail.

Under the agreement, Hanson Faso will act as the Company's sales and marketing team working with distributors and retail brick & mortar direct sales within the Central United States, including certain national retailers with headquarters in the region. Hanson Faso will market the full line of Charlotte's Web premium product offerings.

Hanson Faso is an integral part of the supply chain process between manufacturers and customers. In addition to handling order processing, Hanson Faso provides first-class business data analytics necessary to support sales, efficient inventory management and forecasting. Brand building and sales are achieved through data-driven marketing programs to maximize visibility.

"Hanson Faso is one of the most respected and agile sales and marketing teams of premier brands in the country," said Jacques Tortoroli, Chief Executive Officer of Charlotte's Web. "Coupling their well-established relationships and proprietary data analytics, we will propel our retail marketing and distribution effectively and efficiently in midwestern and southern states where consumers are looking for wider access to premium CBD products. These regions make up a meaningful portion of the CBD market and growth potential, supporting our overall channel expansion growth strategy."

"We are proud to add the Charlotte's Web product portfolio to our offerings," said Stewart Reich, President of Hanson Faso Sales and Marketing, Inc. "We selected Charlotte's Web full spectrum hemp CBD for our client portfolio due to the premiere brand trust and science-backed product development."

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 using organic regenerative cultivation practices. The Company's hemp extracts have naturally occurring botanical compounds including cannabidiol ("CBD"), CBC, CBG, terpenes, flavonoids, and other beneficial compounds. hemp compounds. 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.  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 Charlotte's Web's mission is "To unleash the healing powers of botanicals with compassion and science, benefitting the planet and all who live upon it."

Forward-Looking Information

Certain information in this news release constitutes forward-looking statements and forward-looking information within the meaning of applicable securities laws (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, among others: the future of Charlotte's Web and the impacts of management 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. The material factors and assumptions used to develop the forward-looking information herein include, but are not limited to, the following: the impact of the COVID-19 pandemic; the regulatory climate in which the Company currently operates and may in the future operate; consumer interest in CBD; successful sales of the Company's products; and the success of sales and marketing activities. 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 Report on Form 10-K for the year ended December 31, 2021 available on  and  , and other risk factors contained in other filings with the Securities and Exchange Commission available on  and filings with Canadian securities regulatory authorities available on . 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.

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SOURCE Charlotte's Web Holdings, Inc.