**Major League Baseball and
Charlotte's Web form first CBD sponsorship
with a
major pro sports league**
DENVER, Oct. 12,
2022 /CNW/ - (TSX: CWEB) (OTCQX: CWBHF)
Charlotte's Web Holdings, Inc. ("Charlotte's Web," "CW" or the
"Company") the market leader in hemp-derived CBD products, today
jointly announced with Major League Baseball ("MLB"), a first of
its kind exclusive multi-year strategic partnership that opens
increased CBD visibility to their professional athletes, millions
of fans and communities. The rigorous approval process that brought
the two legacy brands together fills a major gap in the sports
channel for an NSF Certified for Sport® portfolio of CBD
products for players and consumers demanding safe, natural options
to support recovery, help keep calm under pressure, and help sleep
cycles and focus.
Major League Baseball now becomes the first major professional
sports league to form a sponsorship agreement with a CBD
company. Charlotte's Web is now the first "Official CBD of
Major League Baseball." In June
2022, MLB officially opened the CBD category for the league
and its Clubs allowing sponsorships with CBD companies that are NSF
Certified for Sport®.
"As a leader in the CBD category, with products that provide
health and wellness benefits, Charlotte's Web is a welcome addition
to the MLB family, representing a landmark partnership in baseball
and sports," said Noah Garden, MLB
Chief Revenue Officer. "Charlotte's Web products which
receive the NSF Certified for Sport® designation have
met the highest safety standards and can be promoted across MLB
events and media platforms. We are excited about the
possibilities this partnership offers as CBD becomes a more widely
adopted part of the health and wellness regimen of our players and
fans."
The partnership celebrates the much-anticipated launch of
Charlotte's WebTM SPORT – Daily Edge, the first
broad-spectrum hemp-derived tincture to be Certified for
Sport® by NSF, the highly respected global third-party
organization that establishes standards for safety, quality,
sustainability, and performance and certifies manufacturers and
products against them. Leveraging Charlotte's Web's scientific
research, Current Good Manufacturing Practices (cGMP), and
Certified B Corp principles, Daily Edge underwent strict
independent testing to uniquely meet MLB's scientific benchmarks
and no-banned substances policy. Daily Edge, which will feature the
MLB silhouetted batter logo on its bottle and is the first product
launch from the new Charlotte's WebTM SPORT line, which
will also include gummies, topicals, and oral sprays.
"NSF is proud to play a role in this historic next chapter of
America's favorite pastime," said John
Travis, Principal Technical Manager, NSF. "MLB showed great
trust in the NSF mark earlier this year when it named NSF Certified
for Sport® as the standard CBD brands must meet in order
to sponsor MLB and its teams. The Charlotte's Web and MLB
partnership promotes clean sport and closely aligns with NSF's
mission to improve human health worldwide."
This historic multi-year agreement is the first league-wide
partnership for Charlotte's Web. The partnership makes MLB a
strategic partner in Charlotte's Web's NSF-Certified for
Sport® line and underscores the long-term value
opportunity of entering the U.S. CBD market, which topped
US$4.7 billion in total sales in
2021*. The inaugural Daily Edge tincture will launch via
Charlotte's Web's eCommerce platform on Oct.
12, 2022 during the October
2022 Division Series with an exclusive run for the MLB
Postseason, and in 2023, the expanded product line will debut in
retail sports and health and wellness channels. Through the
partnership, Charlotte's Web will have a premiere brand presence at
MLB's Jewel Events, including All-Star Week, Postseason, and the
World Series presented by Capital One through marketing, media, and
ballpark activations that connect to the league's fan base of over
180 million Americans.
"We applaud MLB for being the first-mover in professional sports
CBD and are thrilled to welcome their league as a respected
strategic partner," said Jacques
Tortoroli, CEO Charlotte's Web. "Bridging our
industry-leading brands with science, innovation, and education,
this pioneering partnership validates Charlotte's Web's core
business principle and founding mission to open access to safe,
quality and consistent CBD through our proprietary hemp genetics
and industry-forging vision."
Both organizations share a purpose-focused mission and a passion
for supporting their communities. They have committed to serving as
Corporate Social Responsibility partners and advancing causes that
promote quality of life for athletes and fans.
"Nature is the most intelligent and advanced technology system
in our world, and when we work with nature for health and innovate
through the lens of community care, we can truly redefine what it
means to be well as an athlete. This is game-changing, and I am
excited by what we can accomplish with the MLB partnership," said
Jared Stanley, Co-Founder, COO
Charlotte's Web.
In consideration for the exclusive marketing and ancillary
rights provided to Charlotte's Web by MLB, Charlotte's Web (i) will
issue 6,119,121 common shares of the Company to MLB, which
represents approximately 4% of the outstanding common shares of the
Company, (ii) has agreed to certain revenue sharing rights on
MLB/Charlotte's Web co-branded products, and (iii) agreed to make
certain rights fee payments to MLB through December 31, 2025, as summarized in an 8-K filing
under the Company's profile at www.sec.gov and at
www.SEDAR.com.
Charlotte's Web World Series
Sweepstakes
In celebration of MLB's exciting season and their loyal fans,
Charlotte's Web is awarding one (1) 2022 World Series experience
for a Grand Prize winner and guest including game tickets for two
(2), airfare, and hotel. No purchase necessary to win. Sweepstakes
entry period starts 6:00am MST on
10/12/22 and ends 11:00pm MST on 10/18/2022. Open to legal
residents of U.S., 18 +. One (1) prize to be awarded. Odds of
winning depend on number of entries received. Enter online or
by mail. Limit one (1) entry per person/email address, regardless
of method of entry. Void where prohibited. Restrictions apply; see
Official Rules at www.charlottesweb.com/MLB. Sponsor:
Charlotte's Web, Inc.
* Source: 2022 Mid-Year US CBD Report – The Brightfield
Group
**Major League Baseball trademarks and copyrights are used with
permission of Major League Baseball.
About MLB
Major League Baseball (MLB) is the most historic professional
sports league in the United States
and consists of 30 member clubs in the U.S. and Canada, representing the highest level of
professional baseball. Led by Commissioner Robert D. Manfred, Jr., MLB remains committed to
making an impact in the communities of the U.S., Canada and throughout the world, perpetuating
the sport's larger role in society and permeating every facet of
baseball's business, marketing, community relations and social
responsibility endeavors. MLB currently features record
levels of competitive balance, continues to expand its global reach
through programming and content to fans all over the world, and
registered records in games and minutes watched this season on
MLB.TV. With the continued success of MLB Network and MLB
digital platforms, MLB continues to find innovative ways for its
fans to enjoy America's National Pastime and a truly global game.
For more information on Major League Baseball, visit
www.MLB.com.
About NSF
NSF is an independent, global organization that facilitates
standards development, and tests and certifies products for the
food, water, health sciences and consumer goods industries to
minimize adverse health effects and protect the environment.
Founded in 1944, NSF is committed to protecting human health and
safety worldwide. With operations in 180 countries, NSF is a Pan
American Health Organization/World Health Organization
Collaborating Center on Food Safety, Water Quality and Indoor
Environment.
About Charlotte's Web Holdings,
Inc.
Charlotte's Web Holdings, Inc., a Certified B Corporation
headquartered in Denver, is the
market leader in innovative hemp extract wellness products. under a
family of brands that includes Charlotte's Web™, CBD Medic™, and
CBD Clinic™. Founded by the seven Stanley
Brothers, ignited the CBD industry when they came to global
prominence with the coverage of a young girl's astounding reaction
to their hemp extract. Their advocacy changed laws, public
perception, and research around the vast health potential of
plant-based solutions. The Stanleys built their business with the
mission to bring safe, botanical options to health seekers
worldwide. Charlotte's Web branded premium quality products start
with proprietary hemp genetics that are American farm-grown-grown
using organic and regenerative cultivation practices. The Company's
hemp extracts have naturally occurring botanical compounds
including cannabidiol ("CBD"), CBC, CBG, terpenes, flavonoids, and
other beneficial compounds. The Company's CW Labs R&D division
advances hemp science at a center of excellence in Louisville, Colorado. Charlotte's Web product
categories include full-spectrum hemp CBD 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. Through its vertically integrated business
model, Charlotte's Web maintains stringent control over product
quality and consistency with 20+ product lot testing for quality
assurance. Charlotte's Web products are distributed to more than
15,000 retailers, over 8,000 health care practitioners, and online
through the Company's website at
https://www.charlottesweb.com/.
Charlotte's Web's mission is "To unleash the healing powers of
botanicals with compassion and science, benefitting the planet and
all who live upon it."
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. Forward-looking information in this
press release includes expectations with respect to the
launch of the Daily Edge oil tincture, the launch of CW's expanded
line of retail sports and health and wellness, and CW and MLB
fulfilling the terms of the sponsorship agreement, including the
MLB silhouetted batter logo on CW-MLB co-branded products, CW brand
presence at certain MLB events and the consideration payable by CW
to MLB under the sponsorship agreement.
Statements containing forward-looking information are not
historical facts, but instead represent management's current
expectations, estimates and projections regarding the future of
our business, future plans, strategies, projections, anticipated
events and trends, the economy and other future conditions.
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. Important
factors that could cause actual results and financial condition to
differ materially from those indicated in the forward-looking
information include, among others, the factors discussed throughout
the "Risk Factors" section of the Company's most recently filed
annual information form available
on www.SEDAR.com and in the Company's most
recently filed Annual Report on Form 10-K and quarterly report on
Form 10-Q as amended, and other filings with the Securities and
Exchange Commission available on www.SEC.gov. Except
as required by applicable securities laws, the Company undertakes
no obligation to publicly update any forward-looking information,
whether written or oral, that may be made from time to time,
whether as a result of new information, future developments or
otherwise.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/major-league-baseball-and-pioneering-cbd-brand-charlottes-web-strike-groundbreaking-deal-301647308.html
SOURCE Charlotte''s Web Holdings, Inc.