LEAMINGTON,
Ontario and DENVER, Nov. 2, 2022 – PRESS RELEASES –
Tilray Brands
Inc., a leading global cannabis lifestyle and consumer packaged goods company built
on inspiring and empowering the worldwide community to live its very best life,
and Charlotte’s Web Holdings Inc., the U.S. market leader in cannabidiol (CBD) hemp extract wellness products, have entered into a
strategic alliance which includes licensing, manufacturing, quality, marketing
and distribution for Charlotte’s Web CBD hemp extract products in Canada.

For
the first time, Canadians will have the ease of nationwide availability of
Charlotte’s Web full-spectrum CBD products through Tilray’s distribution
network. Previously, Charlotte’s Web hemp extract had only been available to
Canadian families that qualified for a special access medical exemption through
Health Canada for specific need-states.

“This is an exciting time for the
Canadian CBD market as more Canadians seek natural wellness options. Partnering
with Charlotte’s Web, the market leading CBD brand, opens new opportunities for
Tilray Brands in Canada as we evolve our distribution channels from the
dispensary model to natural wellness retail channels and eventually mass retail
opportunities. We look forward to launching Charlotte’s Web’s trusted,
certified, and tested products across Canada in 2023.” said Blair
MacNeil, president, Canada, at Tilray.

“Charlotte’s Web is thrilled to be
partnering with Tilray Brands, a respected global category captain. This
underscores our strategic expansion into international markets with leading
domestic partners by leveraging well-established infrastructure, co-production,
and route-to-market capabilities,” Charlotte’s Web CEO Jacques Tortoroli
said. “Our collective goal is to bring full-spectrum
CBD-lifestyle wellness options to the Canadian market that will answer
consumers’ demand for safe, high-quality, trusted CBD products.”

The
endeavor will address specific need states for Canadians by replicating the
success of Charlotte’s Web’s core offerings in the U.S. with its line of full-spectrum
hemp extract products, including, naturally flavored oil tinctures, topical
creams, and functional gummies for daily wellness and night-time use.
Hemp-derived CBD falls under the same regulatory framework in Canada as
cannabis; and therefore, Charlotte’s Web will be available through traditional
Canadian cannabis sales channels. Establishing Charlotte’s Web’s supply chain
and distribution in Canada also prepares for the contemplated introduction of
natural health products regulations and potential ability to sell CBD products
through traditional pharmacies in Canada.

First
availability of Charlotte’s Web products in Canada is expected in early 2023
for hemp extract oil tinctures, followed by gummies and topicals.

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