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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