Charlotte's Web Undertaking Public Offering

Net proceeds from the Offering are expected to be used primarily to fund the Company's business development.

Charlotte's Web Holdings, Inc. (TSX: CWEB), the market leader in hemp CBD extract products, announces today that it is undertaking an overnight marketed public offering of units of the Company.

The Offering is expected to be priced in the context of the market, with the final terms of the Offering to be determined at the time of pricing. There can be no assurance as to whether or when the Offering may be completed, or as to the actual size or terms of the Offering. The closing of the Offering will be subject to market and other customary conditions, including approvals of the Toronto Stock Exchange and the applicable securities regulatory authorities.

In addition, the Company intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the Units offered in the proposed Offering on the same terms and conditions.

Canaccord Genuity Corp. is acting as the sole book-runner for the Offering.

Net proceeds from the Offering are expected to be used primarily to fund the Company's business development and for general working capital purposes.

The Units will be offered in each of the provinces of Canada, other than Québec, pursuant to the Company's base shelf prospectus dated April 8, 2019, and may also be offered by way of private placement in the United States to "qualified institutional buyers". The terms of the Offering will be described in a prospectus supplement to be filed with the securities regulators in each of the provinces of Canada, except Québec.

Copies of the Supplement, the following, the filing thereof, and accompanying Base Prospectus may be obtained on SEDAR at www.sedar.com and from Canaccord Genuity Corp., 161 Bay Street, Suite 3000, Toronto, ON M5J 2S1. The Base Prospectus contains, and the Supplement will contain, important detailed information about the Company and the Offering. Prospective investors should read the Supplement and accompanying Base Prospectus and the other documents the Company has filed on SEDAR at www.sedar.com before making an investment decision.

No securities regulatory authority has either approved or disapproved of the contents of this news release. The common shares have not been and nor will they be registered under the United States Securities Act of 1933, as amended or any state securities laws. Accordingly, the common shares may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities of Charlotte's Web in any jurisdiction in which such offer, solicitation or sale would be unlawful.

To learn more about Charlotte's Web Holdings, visit the company HQ here.

Disclaimer: Past performance is not an indicator of future performance.

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Casey Peternell
Casey Peternell

Casey is a media and content creator with a keen eye for creativity. Casey is currently in the process of obtaining a double bachelors degree in Media & Communications and Business from Swinburne University in Melbourne.

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