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Charlotte’s Web Site Announces Leadership Changes, Including Former Bacardi Limited CEO Jacques Turtoroli, CEO Designated

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Wes Boyson Appointed Chief Financial Officer and Operations

Jared Stanley Appointed Head of Agriculture and Innovation

This press release constitutes a “custom news release” for purposes of the supplement to Charlotte Web Holdings’ prospectus. June 3, 2021 For its short form the basic shelf leaflet is dated May 5, 2021.

DenverAnd December 16, 2021 /PRNewswire/– (TSX: CWEB) (OTCQX: CWBHF) Announces Charlotte’s Web Holdings, Inc. (“Charlotte’s Web” or “the Company”) reports changes in leadership. Mr. Jacques Tortoroli, former Managing Director of Bacardi Ltd. , the world’s largest private liquor company, has been appointed CEO of Charlotte’s Web, replacing the former CEO, Denny Elsner.

Charlotte’s Web (TSX: CWEB) (OTCQX: CWBHF) – The World’s Most Reliable CBD Hemp Extract (CNW Group / Charlotte’s Web Holdings, Inc.)

Mr. Tortoroli was also the former President of Bacardi International Limited and has global experience in executive leadership. His 40-year career includes launching e-commerce platforms, global finance, mergers and acquisitions, and strategic partnerships through various senior executive roles at Bacardi and Viacom Inc. Young & Rubicam Inc. and PepsiCo Inc. and KPMG.

“Jack’s strong track record of driving international equity for the brand through product innovation and customer relationships will be invaluable to Charlotte’s Web,” he said. John Heald, Chairman of Board of Directors.

Additional leadership changes

Wes BoysonCFO of Charlotte’s Web has expanded responsibilities under the title of CFO and Operations.

Jared Stanley, co-founder of Charlotte’s Web and Chief Agriculture Officer, will assume an expanded role as Chief Agriculture and Innovation Officer responsible for hemp cultivation and extraction, hemp research and development, and product development.

“I am delighted to be able to work closely with Wes, Jared and the broader leadership team and excited about the opportunities ahead,” said Mr. Tortoroli. “Locally, Charlotte Web continues to innovate and increase market share, but internationally – as we increase our focus – markets present more attractive opportunities for accelerated growth.”

Mr. Tortoroli has been the manager of Charlotte’s website ever since November 2019 And a member of the compensation and audit committee of the company. With regard to the appointment of Mr. Tortoroli as CEO, he is stepping down from the appointments to the Committee. Mr. Tortoroli replaces Denny Elsner who joined the company in May 2019. The company thanks Ms. Elsner for her valuable contribution to the Web to Charlotte and wishes her all the best in her future endeavours.

“Deanie’s tremendous dedication has put Charlotte’s website at the forefront of our industry both locally and globally,” added Mr. Tortoroli. “I am happy to move forward with the platform and electives I created for the business.”

About Charlotte Web Holdings.

Charlotte Web Holdings, a certified B company based in Denver, Colorado, is the market leader in innovative hemp-derived wellness products under a family of brands that includes Charlotte’s Web., CBD doctorcbd clinic, And cannabis harmony. The highest quality Charlotte brand products online start with the genetics of hemp that is grown and manufactured on a 100 percent American farm to whole hemp extracts that contain natural botanicals including CBD (“CBD”), CBC and CBG. The terpenes, flavonoids, and other beneficial cannabinoids complexes. The company’s CW Labs R&D science division is located in University at Buffalo in a New York which is part of State University of New York (State University of New York64 university system. Charlotte’s Web product categories include full-spectrum hemp extract oil tinctures (liquid products), gums (sleep, stress, and inflammation recovery), capsules, topical creams and lotions, as well as pet products for dogs. Charlotte’s web products are distributed to more than 14,000 retail outlets and 8,000 healthcare practitioners, and online through the company’s website at www.CharlottesWeb.com.

forward-looking information

Certain information in this press release constitutes forward-looking statements and forward-looking information (together referred to as “forward-looking information”). In some cases, but not necessarily in all cases, forward-looking information may be identified through the use of forward-looking terms such as “plans,” “objectives,” “expects,” “does not expect,” “expects,” “opportunity exists,” or “is positioned.” “estimate,” “estimates,” “intends,” “assumes,” “expects,” “does not,” “believes,” or various forms of these words, phrases, or status that some action, event, or outcome “could” or “could” “may,” “may,” “will,” “take,” “occur” or “come true.” In addition, any statements that refer to expectations, expectations or any other description of future events or conditions contain forward-looking information. Specifically, this press release contains forward-looking information regarding the company’s expansion activities and growth strategy.

Statements that contain forward-looking information are not historical facts but instead represent management’s current expectations, estimates and expectations regarding the future of our business, future plans, strategies, expectations, expected events and trends, the economy and other future conditions. Forward-looking information is necessarily based on a number of opinions, assumptions and estimates which, although considered reasonable by the Company as of the date of this press release, are subject to known and unknown risks, uncertainties, assumptions and other factors that could cause actual results, level of activity, performance or achievements to differ. materially from those expressed or implied by this forward-looking information. Important factors that could cause actual results and financial condition to differ materially from those indicated in the forward-looking information include, among other things, the factors discussed in the “Risk Factors” section of the Company’s most recent annual information form. Except as required by applicable securities laws, the Company undertakes no obligation to publicly update any forward-looking information, whether written or oral, which may be made from time to time, whether as a result of new information, future developments or otherwise.

for further information Participate For web investor news from Charlotte.



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SOURCE Charlotte’s Web Holdings, Inc.

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