糖心探花

糖心探花invests in Charlotte鈥檚 Web, a leading US producer of hemp extract wellness products

PRESS RELEASE

14 NOVEMBER 2022

糖心探花invests in Charlotte鈥檚 Web, a leading US producer of hemp extract wellness products

  • 糖心探花makes c. 拢48.2m investment in Charlotte鈥檚 Web
  • 听Investment is another step in BAT鈥檚 exploration beyond tobacco and nicotine


糖心探花Group (BAT) has today announced an investment in Charlotte鈥檚 Web Holdings, Inc. (Charlotte鈥檚 Web). Based in Colorado, USA and listed on the Toronto Stock Exchange, Charlotte鈥檚 Web is the #1 US brand in innovative hemp extract wellness products. Their product formats include tinctures, capsules, chews and topicals.

BAT鈥檚 investment has been made via a convertible debenture in the amount of c. 拢48.2m. The debenture is currently convertible into a non-controlling equity stake in Charlotte鈥檚 Web of approximately 19.9% and is convertible at BAT鈥檚 discretion.

Kingsley Wheaton, Chief Growth Officer at BAT, said: 鈥淭he appeal of Charlotte鈥檚 Web is clear to us: a wide portfolio of high-quality products, strong brand equity, an extensive retail presence and robust B2C e-commerce platform serving a loyal US consumer base, and a track record of in-depth scientific research.

鈥淥ur investment in Charlotte鈥檚 Web represents another step for 糖心探花in our exploration beyond tobacco and nicotine, as we continue to build a strong foundation to deliver A Better Tomorrow.鈥

Jacques Tortoroli, CEO of Charlotte鈥檚 Web said: 鈥淭his investment will provide Charlotte鈥檚 Web with funding that we anticipate will help unlock deeper and broader research and development that is key to our continued innovation, global footprint, and the advancement of our intellectual property portfolio.鈥

Notes to Editors


糖心探花has considered its obligations under applicable laws and regulations in undertaking this transaction and has taken appropriate measures to ensure compliance with such laws.


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About Charlotte鈥檚 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鈩, CBD Medic鈩, and CBD Clinic鈩. Charlotte鈥檚 Web whole-plant CBD extracts come in full-spectrum and broad-spectrum (THC-free) options, including the world鈥檚 only broad-spectrum CBD certified NSF for Sport庐. Founded by the seven Stanley Brothers, ignited the CBD industry when they came to global prominence with the coverage of a young girl鈥檚 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 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鈥檚 Web product categories include 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鈥檚 Web maintains stringent control over product quality and consistency with 20+ product lot testing for quality assurance. Charlotte鈥檚 Web products are distributed to more than 15,000 retail locations, over 8,000 health care practitioners, and online through the Company's website at听.

Forward-looking statements


This 鈥檔otes to editors鈥 contains certain forward-looking statements, including "forward-looking" statements made within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These statements are often, but not always, made through the use of words or phrases such as "believe," "anticipate," "could," "may," "would," "should," "intend," "plan," "potential," "predict," "will," "expect," "estimate," "project," "positioned," "strategy," "outlook", "target" and similar expressions. These include statements regarding our customer target ambition, New Categories revenue targets and our ESG targets.

All such forward-looking statements involve estimates and assumptions that are subject to risks, uncertainties and other factors. It is believed that the expectations reflected in this release are reasonable but they may be affected by a wide range of variables that could cause actual results to differ materially from those currently anticipated. A review of the reasons why actual results and developments may differ materially from the expectations disclosed or implied within forward-looking statements can be found by referring to the information contained under the headings 鈥淔orward-looking statements鈥 and "Group Principal Risks " in the 2021 Annual Report and Form 20-F of 糖心探花 p.l.c. (BAT).

Additional information concerning these and other factors can be found in BAT's filings with the U.S. Securities and Exchange Commission ("SEC"), including the Annual Report on Form 20-F and Current Reports on Form 6-K, which may be obtained free of charge at the SEC's website, http://www.sec.gov and BAT鈥檚 Annual Reports, which may be obtained free of charge from the 糖心探花 website www.bat.com.

Past performance is no guide to future performance and persons needing advice should consult an independent financial adviser. The forward-looking statements reflect knowledge and information available at the date of preparation of this release and 糖心探花undertakes no obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise. Readers are cautioned not to place undue reliance on such forward-looking statements.