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Charlotte’s Web Pet Products Approved for NASC Quality and U.S. Hemp Authority Seals – New Cannabis Ventures

February 20, 2020

Only Full-Spectrum Hemp-Derived CBD Pet Line to Comply withIndustry’s Two Highest Standards

BOULDER, CO,Feb. 20, 2020/PRNewswire/ – Charlotte’s Web Holdings, Inc. (“Charlotte’s Web” or the “Company”) (TSX:CWEB,OTCQX:CWBHF), the market leader inhemp-derived extract products, is pleased to announce that its edible pet supplementshave been approved to carry seals of approval from two of the most trusted organizations in their respective industries, the National Animal Supplement Council (NASC), a non-profit group dedicated to protecting and enhancing the health of companion animals throughout the country and the U.S. Hemp Authority, an organization created for the purpose of helping create standardization and quality across the hemp industry.

As the only full-spectrum hemp derived CBD brand to comply with both the NASC Quality Seal program and the U.S. Hemp Authority Certification Program, Charlotte’s Web is further validating to pet owners why it is known as The World’s Most Trusted Hemp Extract. The Company has been expanding its presence in the fast-growing pet CBD market, with its 12 SKU pet line experiencing 57% year-over-year revenue growth in Q3 2019.

Charlotte’s Web pet products will also now feature labels confirmingNon-GMO, Grain Free andUSAGrown Hemp as part of the Company’s commitment to corporate responsibility, health and wellness, and sustainable farming practices. As part of these efforts, Charlotte’s Web has been transitioning its hemp farming from conventional to organic agriculture practices, with more than 50% of its fields now certified organic. The Company is pursuing broad organic certification for its various product lines.

For canine owners, we understand that dogs aren’t just pets, they’re family. They deserve products you can trust. Charlotte’s Web is committed to producing the safest and highest quality pet products. We are very proud that our edible pet products have earned a seal of approval from both the NASC and the U.S. Hemp Authority.

Deanie Elsner, CEO of Charlotte’s Web

In addition to the Company’s full-spectrum hemp extract with naturally occurring CBD and other cannabinoids and terpenes, Charlotte’s Web canine chews include functional ingredients to support Hip & Joint, Senior Dogs and Calming. Each of these products will display the NASC Quality Seal on their packaging.

The NASC Quality Seal enables consumers to make safe and empowered purchasing decisions when shopping for their pets. The seal is awarded only to manufacturers and suppliers that have successfully passed an NASC facility audit and comply with rigorous quality standards, including strict labeling requirements, real-time adverse event reporting, and random product testing by an independent lab.

Charlotte’s Web products also carry U.S. Hemp Authority Certification, which requires meeting or exceeding stringent self-regulatory standards for Current Good Manufacturing Practices (cGMP) and passing an annual third-party audit. The Program is designed to increase consumer and law enforcement confidence in hemp products being sold in the market today by designating them as safe and legal.

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About Charlotte’s Web Holdings, Inc.

Charlotte’s Web Holdings, Inc. is the market leader in the production and distribution of innovative hemp-derived cannabidiol (“CBD”) wellness products. Founded by the Stanley Brothers, the Company’s premium quality products start with proprietary hemp genetics that are responsibly manufactured into hemp-derived CBD extracts naturally containing a full spectrum of phytocannabinoids, including CBD, terpenes, flavonoids and other beneficial hemp compounds. Charlotte’s Web product categories include CBD oil tinctures (liquid products), CBD capsules, CBD topicals, as well as CBD pet products. Charlotte’s Web hemp-derived CBD extracts are sold through select distributors, brick and mortar retailers, and online through the Company’s website atwww.CharlottesWeb.com. The rate the Company pays for agricultural products reflects a fair and sustainable rate driving higher quality yield, encouraging good farming practices, and supporting U.S. farming communities.

Charlotte’s Web is a socially 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 its employees, customers, the environment, and the communities where its employees live and where it does business, while maximizing profits and strengthening its brands. The Company’s management believes that socially oriented actions have a positive impact on the Company, its employees and its shareholders. Charlotte’s Web donates a portion of its pre-tax earnings to charitable organizations.

Shares of Charlotte’s Web trade on the Toronto Stock Exchange (TSX) under the symbol “CWEB” and are quoted in U.S. Dollars inthe United Stateson the OTCQX under the symbol “CWBHF”. As ofJanuary 1, 2020, Charlotte’s Web had 67,418,174 Common Shares outstanding and 95,342.49 Proportional Voting Shares convertible at 400:1 into Common Shares, for an effective equivalent of 105,555,170 Common Shares outstanding.

Original press release