Charlotte';s Web Expands ReCreate™ Brand Further Cementing the Intersection of CBD in Sports, Paving the Way for Industry Transformation

Unveiling four broad-spectrum CBD gummies with functional botanicals

DENVER, July 11, 2023 /PRNewswire/ - (TSX: CWEB) (OTCQX: CWBHF) Charlotte's Web Holdings, Inc. ("Charlotte's Web" or the "Company"), the market leader in hemp-derived CBD products, continues to innovate and expand its footprint with ReCreate™, the Company's lifestyle and botanical wellness brand focused on the combination of organic broad-spectrum CBD and functional botanicals, seamlessly blending the forces of nature and science to meet the diverse needs of today's wellness focused consumers. Following the forward-thinking collaborations with Major League Baseball and Angel City Football Club, ReCreate proudly announces its latest venture as the Official CBD of the Premier Lacrosse League ("PLL"). This partnership further cements ReCreate by Charlotte's Web as a pioneer in the sports industry, prioritizing the well-being and recovery of professional lacrosse athletes and their fans.

"As we continue to trailblaze the future of professional sports, staying at the forefront of player well-being and recovery is core to our mission," said Mike Rabil, co-founder and CEO of the Premier Lacrosse League. "Charlotte's Web and their focus on performance with their ReCreate products make for an ideal, player-forward partnership for our league. We're thrilled to name ReCreate the official CBD of the PLL."

"ReCreate's expansion could not have been timed more perfectly, aligning with an exhilarating period of change in the realm of sports and wellness," said TJ McGovern, VP Sports & Entertainment. "The integration of CBD as a natural choice for players, trainers, staff, and fans has sparked a significant transformation, and ReCreate is thrilled to be part of this revolutionary wave with our ground-breaking sports partnerships, offering innovative formulations and formats for individuals to embrace CBD in their wellness routines."

Charlotte's Web signed a historic partnership with Major League Baseball on October 12, 2022. This milestone agreement marked a significant shift in the mindset of major league sports, making NSF Certified for Sport® CBD products available as a natural option to support players' recovery, rest, brain support, and endurance. ReCreate will have a major brand presence at All-Star Week in Seattle through media and event activations for teams, players and fans highlighting CBD and functional botanical education and product benefits.

ReCreate gummies combine organic broad-spectrum CBD and functional botanicals to give consumers the power to tackle whatever comes their way. Each ReCreate product has been thoughtfully crafted to address specific wellness goals. Leveraging science, current Good Manufacturing Practices, and excellence that Charlotte's Web is known for, ReCreate delivers a level of quality that sets it apart. The ReCreate gummy line features the following products:

• Endurance: ReCreate™ Endurance Gummies combine organic broad-spectrum CBD and Beet Root to make the hard work of making it through the day a bit easier. Increase your body's efficiency, last longer and keep going.*
• Muscle Recovery: ReCreate™ Muscle Recovery Gummies combine organic broad-spectrum CBD and Tart Cherry to support muscle recovery and help you bounce back quicker after training.*
• Brain Support:  ReCreate™ Brain Support Gummies combine organic broad-spectrum CBD and organic Lion's Mane to help support cognition. See, feel, and think more completely.* 
• Rest: ReCreate™ Rest Gummies combine organic broad-spectrum CBD + Passionflower to encourage relaxation so you can tap into the kind of calm that restores your spirit.*

Gummies are now available at www.recreateyou.com

Your life is waiting...Live. Play. ReCreate.

About ReCreate™:

ReCreate™ by Charlotte's Web believes that each person has the power to shape their human experience. With a focus on intentional, functional formulations, ReCreate aims to empower individuals to make meaningful changes in their daily lives. Each ReCreate product is meticulously crafted using premium natural ingredients and are NSF Certified for Sport®.   ReCreate by Charlotte's Web is the official CBD of Major League Baseball©, Angel City Football Club and the Premier Lacrosse League.  ReCreate promotes unwavering wellness by offering high-quality products at mainstream prices. ReCreate recognizes the importance of their community's overall well-being without any compromises for a fulfilling and balanced life.

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 that includes Charlotte's Web™, CBD Medic™, and CBD Clinic™.  Charlotte's Web whole-plant CBD extracts come in full-spectrum and broad-spectrum options, including ReCreate™ by Charlotte's Web,  NSF Certified for Sport®, which is the official CBD of Major League Baseball©. Charlotte's Web branded premium quality products start with proprietary hemp genetics that are American farm-grown using organic and regenerative cultivation practices. The Company's hemp extracts have naturally occurring botanical compounds including cannabidiol ("CBD"), CBC, CBG, terpenes, flavonoids, and other beneficial compounds. Charlotte's Web product categories include CBD oil tinctures (liquid products) CBD gummies (sleep, calm, exercise recovery), 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 www.charlottesweb.com.

* These statements have not been evaluated by the Food and Drug Administration. This product is not intended to diagnose, treat, cure or prevent any disease.

© Major League Baseball trademarks and copyrights are used with permission of Major League Baseball.

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. ‎

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 statements containing forward-looking information. Although these statements containing forward-looking information are based on assumptions the Company considers to be reasonable based on the information ‎available on the date such statements are made, such statements are not guarantees of future performance and readers are cautioned ‎against placing undue reliance on forward-looking information. 

The material factors and assumptions used to develop the forward-looking information herein include, but are not limited to, international and political considerations; regulatory changes; ‎and the factors discussed throughout the "Risk Factors" section of the Company's most recently filed annual information form available on www.SEDAR.com and in the Company's most recently filed Annual Report on Form 10-K and quarterly report on Form 10-Q as amended, and other filings with the Securities and Exchange Commission available on www.SEC.gov. 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.

Charlotte's Web Holdings, Inc.
THE WORLD'S MOST TRUSTED HEMP EXTRACT™

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