Charlotte's Web Announces AGM Date

BOULDER, Colo., June 26, 2020 /CNW/ - Charlotte's Web Holdings, Inc. ("Charlotte's Web", or the "Company") (TSX:CWEB, OTCQX:CWBHF), the market leader in hemp CBD extract products, announces today that it intends to hold its annual general and special meeting of shareholders on September 3, 2020 (the "Meeting"). In light of the continuing coronavirus (COVID-19) outbreak and in order to protect the health and safety of the Company's shareholders and the broader community, it is anticipated that the Meeting will be held virtually. The Company's shareholders will be able to attend and participate in the Meeting via live audio webcast.

The Company intends to rely on the temporary blanket relief provided by the Canadian Securities Administrators (including the exemptive relief contained in Ontario Securities Commission Instrument 51-504 – Temporary Exemptions from Certain Requirements to File or Send Securityholder Materials) to postpone the filing of its executive compensation disclosure required under applicable securities laws until such time as it is filed and delivered to shareholders as part of the Company's information circular relating to its 2020 annual general and special meeting of shareholders, currently scheduled for September 3, 2020.

Further information related to the Meeting will be included in the management information circular, which will be made available on SEDAR at www.sedar.com closer to the date of the Meeting.

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. The Company was founded by the Stanley Brothers on a mission to unleash the power of botanicals through compassion and science to benefit the planet and all who live upon it. 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. The Company is a leader in over-the-counter topical products combining active pharmaceutical ingredients with hemp extract including CBD CLINICTM, marketed to the professional practitioner market, and CBDMEDICTM, marketed to the consumer market. 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"). 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 expectations, estimates and projections regarding future events. In particular, this news release contains forward-looking information relating to the Meeting, and any other information contained herein that is not a historical fact.

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 Company's annual information form dated March 27, 2020 and other public filings available on the Company's SEDAR profile at www.sedar.com. These factors are not intended to represent a complete list of the factors that could affect the Company; however, these factors should be considered carefully. There can be no assurance that such expectations, estimates, projections and assumptions will prove to be correct. The forward-looking statements contained in this news release are made as of the date of this news release, and the Company expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.

SOURCE Charlotte's Web Holdings, Inc.

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