Charlotte's Web Names David Panter as Chief Operating Officer

Market Leading Hemp-Derived CBD Brand Enters into Next Phase of Growth and Expansion

BOULDER, CO, March 30, 2020 /PRNewswire/ - (TSX: CWEB, OTCQX: CWBHF) Charlotte's Web Holdings, Inc. ("Charlotte's Web" or the "Company"), the world's most trusted hemp extract and market leader in hemp-derived cannabidiol ("CBD") wellness products, is pleased to announce that David Panter has joined the Company as Chief Operating Officer, effective March 30, 2020.

Mr. Panter brings over 20 years of broad global supply chain experience at leading cosmetic, agriculture, pharmaceutical, medical device and consumer packaged goods (CPG) companies, including Estée Lauder Company, Luxottica Retail, Campbell Soup Company, and Tyco Healthcare/Covidien.

Most recently, at Estée Lauder Company, Mr. Panter was responsible for optimizing the global supply chain including the manufacturing locations and distribution networks in North America, Europe, Asia Pacific and Latin America. Throughout his successful career, he has led manufacturing facilities, quality, distribution and warehouse locations across multiple product categories and has been responsible for transforming operations through continuous improvement, coaching, strategy development and tactical execution.

Mr. Panter, who will be overseeing he Company's brand new 137,000 sq. ft. manufacturing and distribution facility which includes Production, Extraction, Quality Engineering, Environmental Health and Safety, Supply Planning, Process and Facility Engineering, Contract Manufacturing, Continuous Improvement, and Customer Fulfillment Operations, will report directly to Charlotte's Web's Chief Executive Officer Deanie Elsner.

"David's proven track record in global supply chain optimization and operational excellence across multiple industries makes him a valuable and timely addition to our top-tier management team," said Elsner. "We think is a natural fit for Charlotte's Web as we map out our global strategy for international expansion."

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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 ADA compliant website at www.CharlottesWeb.com.

Forward-Looking Information

Certain information in this news release constitutes forward-looking statements and forward-looking information (collectively, "forward-looking information"). Statements containing forward-looking information are not historical facts but instead represent management's expectations, estimates and projections regarding future events. 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, including but not limited to the factors described in greater detail in the public documents of the Company available at www.sedar.com .

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SOURCE Charlotte's Web Holdings, Inc.