Charlotte's Web's CW Labs Announce New Scientific Collaboration Researching Hemp CBD Efficacy

Harvard Medical School's Dr. Staci Gruber, Ph.D. is lead investigator  

BOULDER, Colo., Feb. 24, 2021 /PRNewswire/ - (TSX: CWEB) (OTCQX: CWBHF) Charlotte's Web Holdings, Inc. ("Charlotte's Web" or the "Company"), the market leader in hemp CBD wellness products, today announced a long-term scientific collaboration between McLean Hospital, a Harvard Medical School affiliate, and the Company.  Funding and product support are provided by the CW Labs division of Charlotte's Web Inc. 

Two distinct clinical trials will be overseen by lead researcher/investigator Dr. Staci A. Gruber, Ph. D, Associate Professor of Psychiatry at Harvard Medical School and Director of the MIND program at McLean Hospital in Belmont, Mass.  These two studies will investigate the efficacy of a custom-formulated, hemp-derived high-CBD product. Clinical trial results are to be published in 2022. Dr. Gruber is also conducting a number of other studies, including a longitudinal observational study of Veterans who use a Charlotte's Web product.

Dr. Gruber's Marijuana Investigations for Neuroscientific Discovery (MIND) Program, established in 2014, is the first of its kind, and is dedicated to studying the long-term impact of cannabis and cannabinoids for medical and adult use which utilizes various clinical and cognitive tools as well as multimodal neuroimaging techniques.

"We are honored to be working with Dr. Gruber, Harvard Medical School and McLean Hospital on these important clinical trials," said Tim Orr, President of Charlotte's Web's CW Labs divison. "Charlotte's Web remains dedicated to supporting third-party research on hemp CBD investigated by some of the country's top scientists."

For More Information About the MIND Program: https://www.drstacigruber.com/ 

About the MIND Program:
In 2014 Dr. Staci Gruber launched the Marijuana Investigations for Neuroscientific Discovery (MIND) program at Mclean Hospital, a Harvard Medical School affiliate. The MIND program is the first program of its kind designed to clarify the specific effects of medical cannabis use and is designed to support a wide range of study designs that generate ecologically valid, empirically sound data to close the gap between policy and science. MIND utilizes valid, robust research models and supports numerous projects designed to address the impact of medical cannabis on important variables such as cognition, brain structure and function, mood, conventional medication use, quality of life, pain, sleep, and other health-related measures. Through observational longitudinal investigations, survey studies, and clinical trials of custom-formulated cannabinoid products, MIND aims to examine the unique and synergistic effects of cannabis and its constituents to determine the efficacy of cannabinoids for specific conditions and diseases and to clarify the overall impact of cannabinoid-based treatments on physical and mental health. MIND is poised to improve patients' overall wellbeing by striving to harness the therapeutic potential while minimizing harms of cannabinoid-based treatment.

About Charlotte's Web and its CW Labs Division

Charlotte's Web Labs ("CW Labs") is the research and development division of Charlotte's Web, advancing science around hemp-derived phytocannabinoids, terpenes and flavonoid compounds. CW Labs is headquartered at the Hauptmann Woodward Research Institute on the campus of the University at Buffalo's Jacobs School of Medicine and The Center for Integrated Global Biomedical Sciences, and is part of the State University of New York (SUNY) network of 64 national and international research and medical institutions. 

About Charlotte's Web Holdings, Inc.

Charlotte's Web Holdings, Inc., a Certified B Corporation headquartered in Boulder, Colorado, is the market leader in the production and distribution of innovative hemp-derived cannabidiol ("CBD") wellness products under a family of brands which includes Charlotte's Web™, CBD Medic™, CBD Clinic™, and Harmony Hemp. The Company's premium quality products start with proprietary hemp genetics that are 100-percent American farm grown and manufactured into whole-plant hemp extracts containing a full spectrum of naturally occurring phytocannabinoids including CBD, CBC, CBG, terpenes, flavonoids and other beneficial hemp compounds.  Charlotte's Web product categories include  CBD oil tinctures (liquid products), CBD gummies (sleep, stress, inflammation recovery), CBD capsules,CBD topical creams and lotions, as well as CBD pet products for dogs. Charlotte's Web is the number one CBD brand in the USA and distributed through more than 22,000 retail locations, select distributors and online through the Company's website at www.CharlottesWeb.com. 

Charlotte's Web was founded by the Stanley Brothers with a mission to unleash the healing powers of botanicals through compassion and science, benefiting the planet and all who live upon it.  Charlotte's Web is a socially and environmentally 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 employees, customers, the environment, and diverse communities. The rate the Company pays for agricultural products reflects a fair and sustainable rate driving higher quality yield, encouraging regenerative farming practices, and supporting U.S. farming communities. Management believes that its socially oriented and environmentally responsible actions have a positive impact on its customers, suppliers, employees, and stakeholders. Charlotte's Web donates a portion of its pre-tax earnings to charitable organizations.

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Forward-Looking Information
This news release contains forward-looking statements and information within the meaning of applicable securities legislation. Often, but not always, forward-looking statements and information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "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" or "will" be taken, occur or be achieved. Forward-looking statements or information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Charlotte's Web to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements or information contained in this news release.

Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information, including assumptions as to the efficacy and results of research; the adverse impact of the COVID-19 pandemic to the Company's operations; and such risks contained in Charlotte's Web's annual information form dated March 27, 2020 and filed with Canadian securities regulators available on Charlotte's Web's issuer profiles on SEDAR at www.sedar.com. Readers are cautioned that the foregoing list of factors is not exhaustive.

SOURCE Charlotte's Web Holdings, Inc.

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