Health benefits

Charlotte’s Web enters the employee health benefits channel in partnership with SBM, LLC.

The launch of Hemp CBD Wellness Benefits is an industry first

DENVER, July 12, 2022 /CNW/ – (TSX: CWEB) (OTCQX: CWBHF) Charlotte’s Web Holdings, Inc. (“Charlotte’s Web”, “CW” or the “Company”), the market leader in full-spectrum hemp-extracted CBD products, is the first company to achieve formulary approval and inclusion of its products in the exclusive CBD program. sponsored benefits plan, U.S. employers can now confidently provide employees and their pets with coverage and access to Charlotte’s Web products as alternative health and wellness therapy.

Charlotte's Web enters the employee <a class=health benefits channel in partnership with SBM, LLC. The launch of Hemp CBD Wellness Benefits is an industry first. (CNW Group/Charlotte’s Web Holdings, Inc.)” src=”https://s.yimg.com/ny/api/res/1.2/H54x9YkJ_9hBAsckELcxkw–/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTI5Mw–/https://s.yimg.com/uu/api/res/1.2/GwIjiBi.Q5.MJOifAryNXQ–~B/aD0xNjY7dz00MDA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/cnwgroup.com/242ef7194f53e7ca4743e9c0d1a7d36a”/>

Charlotte’s Web enters the employee health benefits channel in partnership with SBM, LLC. The launch of Hemp CBD Wellness Benefits is an industry first. (CNW Group/Charlotte’s Web Holdings, Inc.)

“With nearly 4,000 brands of CBD for sale in the United States, we select Charlotte’s web as our flagship full-spectrum hemp extract offering,” said Brian Perry, commercial director. Achieve required SBM product form inclusion Charlotte’s Web to show proof of human safety clinical data. In addition, Charlotte’s Web must demonstrate continued good quality manufacturing, lot-specific product labeling to match Certificates of Authenticity, customer education, and attractive pricing.

In an economy increasingly impacted by high levels of employee burnout and quitting, employers are turning to meaningful new perks to attract and retain talent. Now more than ever, employees are asking for natural wellness alternatives to support overall health and wellbeing, including: mental wellness, sleep, exercise, and recovery or discomfort. SBM’s Supplemental Benefit Management offers employers the ability to cover natural therapies and wellness alternatives to improve employee wellbeing, recruitment and retention, and reduce overall healthcare costs. Employers are able to “enhance” this benefit in addition to traditional health insurance. This provides employees with reliable products, training, and the ability to track the impact of these therapies on their health and well-being.

“Through this program, product experience data reveals where natural care and cost choices produce better outcomes for employers and employees,” said SBM’s COO. Rodney Nuss. “Employee engagement may be some employers’ best practice solution to controlling costs and improving health outcomes. Now, employers have the option to add hemp-based wellness coverage with an integrated employee engagement platform to support a healthy workforce and business.”

From July 2022, employers can enroll directly in the SBM program and determine the desired level of coverage for each employee on a monthly or annual basis. Then, employees simply register and access the program through their MySBM app. SBM represents a “benefit with a real benefit” for employers struggling to attract and retain employees. SBM estimates that up to 50,000 employees will participate in the program within twelve months.

“We are celebrating our launch into this category as a Premier Partner of SBM,” said Jacques Tortoroli, Charlotte’s Web General Manager. “Expanding access to CBD through employee benefit programs is yet another way Charlotte’s Web fulfills its mission of broad consumer access to everyday hemp wellness. Wider access and visibility for hemp wellness allows people to make more informed health and wellness decisions.”

Employers can learn more about how to reduce costs and help employees improve their health by contacting SBM at 877-726-2363 (877-SBM-Bene) or info@SBMbenefit.com.

About SBM, LLC.

Charlotte’s Web Holdings, Supplemental Benefit Management, LLC (SBM), headquartered in Colorado, is an innovative benefits management company that provides voluntary supplemental benefits offerings targeting specific areas of health and wellness for humans and pets within sponsored benefit plans by the employer. Founded by health, technology and benefits executives with a proven history of disrupting traditional markets, SBM is at the forefront of merging natural products, consumer experience and the needs of workforce to provide an industry-first solution to control costs and improve health outcomes. The SBM offering includes an exclusive product list with the best products and prices, coupled with an employee engagement solution providing products, training, and results tracking for meaningful health and wellness areas.

About Charlotte’s Web Holdings, Inc.

Charlotte’s Web Holdings, Inc., a Certified B Corporation headquartered in denveris the market leader in innovative hemp extract-based wellness products under a family of brands that includes Charlotte’s Web™, CBD Medic™, CBD Clinic™ and Harmony Hemp™. Charlotte’s Premium Web-branded products begin with proprietary hemp genetics that are grown 100% on a US farm using organic and regenerative cultivation practices. The Company’s hemp extracts contain natural botanical compounds, including cannabidiol (“CBD”), CBC, CBG, terpenes, flavonoids and other beneficial compounds. The company’s CW Labs R&D division advances hemp science in two centers of excellence in Louisville, Coloradoand the Hauptmann Woodward Research Institute in University at Buffalopart of the State University of New York (SUNY) network. Web product categories include full-spectrum CBD hemp oil tinctures (liquid products), CBD gummies (sleep, stress, exercise recovery), CBD capsules, CBD topical creams and lotions, as well as CBD pet products for dogs. Thanks to its vertically integrated business model, Charlotte’s Web maintains strict control over product quality and consistency with over 20 product batch tests for quality assurance. Charlotte’s Web products are distributed to more than 15,000 retailers, more than 8,000 healthcare practitioners and online through the Company’s website at www.CharlottesWeb.com. Charlotte’s Web’s mission is to “unleash the healing powers of plants with compassion and science, for the benefit of the planet and all who live on it”.

Forward-looking information

Certain information contained in this press release constitutes forward-looking statements and forward-looking information within the meaning of applicable securities laws (collectively, “Forward-Looking Information”). In some, but not necessarily all, cases, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “targets”, “expects” or “does not expect to ‘, ‘is expected’, ‘opportunity exists’, ‘is positioned’, ‘estimates’, ‘intends’, ‘assumes’, ‘anticipates’ or ‘does not anticipate’ or ‘believes’, or variations of these words and phrases or states that certain actions, events or results “may”, “could”, “will”, “could”, “will” or “will be taken”, “will occur” or “will be carried out” . In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking information. ‎Specifically, this press release contains forward-looking information regarding, among other things: the future of Charlotte’s Web and the impacts of management changes.

Statements containing forward-looking information are not historical facts, but rather represent management’s current expectations, estimates and projections regarding the future of our business, future plans, strategies, projections, 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 risks, uncertainties, assumptions and other known and unknown factors that may cause actual results, level of activity, performance or achievements to differ materially from those expressed or implied by such forward-looking information. Important factors and assumptions used in developing the forward-looking information contained herein include, but are not limited to, the following: the impact of the COVID-19 pandemic; the regulatory climate in which the Company currently operates and may operate in the future; consumer interest in CBD; successful sales of the Company’s products; and the success of sales and marketing activities. Important factors that could cause actual results and financial condition to differ materially from those set forth in the forward-looking information include, among others, the factors discussed in the “Risk Factors” section of the Company’s most recent annual report filed on Form 10-K. for the year ended December 31, 2021 available at www.SEDAR.com and www.sec.gov, and other risk factors contained in other documents filed with the Securities and Exchange Commission available at www.sec.gov and documents filed with Canadian authorities securities regulations available at www.sedar.com. 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.

Quote

Quote

View original content to download multimedia: https://www.prnewswire.com/news-releases/charlottes-web-enters-employee-health-benefits-channel-in-partnership-with-sbm-llc-301584644.html

THE SOURCE Charlotte’s Web Holdings, Inc.

Quote

Quote

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/July2022/12/c8871.html