DENVER, Jan. 12, 2022 /PRNewswire/ – (TSX: CWEB) (OTCQX: CWBHF) Charlotte’s Web Holdings, Inc. (“Charlotte’s Web,” “CW” or the “Company”), the market leader and manufacturer of The World’s Most Trusted Hemp Extract, has completed a reorganization to drive agility and growth as the Company prepares to launch new products, channels and markets, with intent to return to positive cash flow in 2022. The changes follow the Company’s new leadership announcement issued on December 16, 2021.

“I’m pleased to share a corporate update on recent actions taken to position the business for long-term growth and profitability,” said Jacques Tortoroli, Chief Executive Officer of Charlotte’s Web. “Structurally, we’ve flattened the organization to reengage the bold, entrepreneurial culture that Charlotte’s Web was founded upon. Strategically, we are leveraging our intellectual property and brand leadership to enter new product categories, markets and partnerships to drive our topline growth. Financially, we have moved to reduce our costs and tie compensation more to equity growth to better align with shareholder interests and accelerate our return to positive cash flow in 2022. We have ceased equity distributions through our at-the-market equity program established last June. I am listening to our investors and grateful for their continued support.”

Reorganization
Charlotte’s Web has transitioned to a horizontal organizational structure to empower employees with increased decision making and accountability. This enables more efficient collaboration and creativity, driving faster response times and better customer service. The simplified structure also reduces costs and aligns employees more closely with business goals.

Mission and culture
Charlotte’s Web began as a mission of compassion before it was a business, with seven brothers helping a little girl in need – and subsequently helping thousands of others that would follow. This was Charlotte’s Web’s founding corporate culture and mission to improve health through the healing powers of botanicals with compassion and science, benefitting the planet and all who live upon it. The reorganization marks a return to the founding principles of a passionate, fast-moving entrepreneurial spirit.

“The Charlotte’s Web origins story, leading brand recognition and trust, are unique in the CBD category,” said Jared Stanley, Chief Cultivation & Innovation Officer. “From this foundation we have built valuable thought leadership, science, and optionality into our business, presenting substantial opportunities to be unlocked at home and abroad. We are eager to lead this category with a revitalized approach and renewed energy.”

Revenue expansion
Charlotte’s Web is a market share leader in segments totalling approximately US$3B in sales in 2021 according to the Brightfield Group. As the leading CBD brand, the Company aims to continue incremental market share gains in 2022. On the regulatory front, the passing of California Assembly Bill 45 in October of 2021 has opened new retail doors for Charlotte’s Web within the state as well as with new national retail partners. The mass retail channel continues to await further regulatory progress at the federal level with hearings on House of Representatives Bill 841 anticipated early this year. In the interim, topline growth initiatives for 2022 will include a new focus on ecommerce consumer experience, social media marketing strategies and expanding access to hemp products to audiences who can most directly benefit from them. New product launches are planned with innovative formulas, formats, and categories. And new distribution partner discussions are underway both domestically and internationally.

“We are accelerating our global opportunity in parallel with the US market,” added Wes Booysen, Chief Financial & Operating Officer. “Our executive team has substantial international experience, and we have started the year with discussions underway in Canada, Israel, U.K. and the E.U. for asset-light models through strategic partnerships.”

About Charlotte’s Web Holdings, Inc.
Charlotte’s Web Holdings, Inc., a Certified B Corporation headquartered in Denver, Colorado, is the market leader in innovative hemp extract wellness products under a family of brands which includes Charlotte’s Web, CBD Medic, CBD Clinic, and Harmony Hemp. Charlotte’s Web branded premium quality products start with proprietary hemp genetics that are 100-percent American farm grown and manufactured into hemp extracts containing naturally occurring phytocannabinoids including cannabidiol (“CBD”), CBC, CBG, terpenes, flavonoids, and other beneficial hemp compounds. The Company’s CW Labs R&D division, advances hemp science at two centers of excellence in Louisville, Colorado, and the Hauptmann Woodward Research Institute at the University at Buffalo, part of the State University of New York (SUNY) network. Charlotte’s Web product categories include full spectrum hemp extract oil tinctures (liquid products), gummies (sleep, stress, immunity, exercise recovery), capsules, CBD topical creams and lotions, as well as products for dogs. Charlotte’s Web products are distributed to more than 14,000 retail doors and 8,000 health care practitioners, and online through the Company’s website at www.CharlottesWeb.com.

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. ‎Specifically, this news release contains forward-looking information relating to the Company’s expansion activities and growth strategy; the Company’s expectations regarding future cash flow and its financial position; the results of cost saving efforts; the impact and results of the Company’s reorganization; market share expectations; and impacts of regulatory changes.

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 Form 10, as amended, and other filings with the Securities and Exchange Commission available on www.EDGAR.com. 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.

Charlotte’s Web Holdings, Inc.
THE WORLD’S MOST TRUSTED HEMP EXTRACT

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

REGINA, Saskatchewan – TheNewswire – December 31, 2021 – HTC Purenergy Inc. o/a HTC Extraction Systems (also the “Company” and/or “HTC”) (HTC: TSX-V) (OTCQB: HTPRF) announces that it has entered into an asset sale and purchase agreement (“APA”) with Starling Brands Inc. (“Starling Brands”) pursuant to which Starling Brands will acquire certain assets (the “Transferred Assets”) used in HTC’s California-based CBD extraction business for the aggregate purchase price (“Purchase Price”) of $5,000,000 (the “Transaction”).

The Purchase Price is payable by the payment of $5,000,000 in cash or, at the option of HTC,  the issuance of 5,000,0000 Class A common shares (“Option Shares”) of Starling Brands at a deemed price of Cdn$1.00 per Option Share (the “Option”), provided that HTC shall exercise the Option upon HTC delisting its common shares (“HTC Shares”) from the TSX Venture Exchange (the “TSXV”) and transition to the Canadian Securities Exchange (the “CSE”).

The Company has submitted an initial application to the CSE to list the HTC Shares, and expects to request that the TSXV voluntarily delist the HTC Shares upon the commencement of trading on the CSE. At this time, the CSE has not yet reviewed the listing statement of HTC in connection with its application for a listing on the CSE. It is expected that the listing of the HTC Shares on the CSE will be completed in the first quarter of 2022.

Starling Brands is one of the leading extractors and formulators of medical, wellness and recreational cannabis products in California. Powered by a passionate group of specialists, they are determined to champion the untapped benefits of cannabis.

Kase Manufacturing Inc. (“Kase Manufacturing”), based in Ceres, California, and a wholly-owned subsidiary of Starling Brands, is driven by quality, integrity and innovation, managed by a world-class team of experts with over 50 years of combined experience, and will integrate this experience to help accelerate the growth and success of Starling Brands. Kase Manufacturing is one of the first volatile and non-volatile cannabinoid extraction manufacturing labs approved in the State of California. Kase Manufacturing utilizes the highest-quality extraction and refining equipment and laboratory tools available today and is operated by an award-winning team of extractors and formulators, who consistently produce industry best cannabinoid oils, distillate and high terpene extracts sold under their own brands and white labeled for other leading California brands.

Kase Manufacturing, under Starling Brands, is licensed to operate in the areas of cannabis extraction, refining, formulation and distribution in the State of California. HTC previously enter into an intellectual property licensing agreement with Starling Brands that  allows for a technology transfer whereby intellectual property and technology licensed under this agreement is utilized and deployed in HTC’s Canadian facility.

An intrinsic part contributing to the success of both Starling Brands and Kase Manufacturing, is the combination of the expertise and leadership of Mike Reynolds, co-founder of Starling Brands, and Drew Ford, Chief Science Officer, who is a highly regarded expert in the cannabinoid extraction, formulation and refining world.

Mike Reynolds, co-founder of Starling Brands, has spent the last 10 years building political, business and community alliances in the cities of Ceres and Modesto, California. His involvement in cannabinoids began after his son, Kase, was diagnosed with epilepsy at the age of four months. Mike then formed a partnership with Jason David whose son also suffered from epilepsy, which gave a new impetus to the development and success of the Jayden’s Juice product, a cannabinoid-rich tincture, manufactured by Kase Manufacturing. Reynolds directed the planning, design, construction, licensing, and staffing of Kase Manufacturing. His relationship with the City of Ceres and experience as a parent of a child whose life was transformed by medicinal cannabinoids are invaluable to their companies’ success.

Drew Ford has previously worked as a chemical engineer in the reverse osmosis desalination industry, working in research and development and chemical purification before making the switch to the cannabinoid space. Drew’s experience and passion for chemical purification and refinement brought him to the cannabinoid market. He was a key member of the team that developed the first vacuum distillation process equipment for cannabinoid oil and has optimized and redefined the standard of “potency” and “efficacy.” Many of the wiped film refining systems today being offered by equipment OEMs enshrined Drew’s significant experience in vacuum distillation product enhancement. His hands-on experience as a pioneering developer of cannabinoid products gives him the foresight that will allow him to guide Starling Brands to adapt quickly to changes in the cannabis marketplace.

“On behalf of HTC, we are extremely excited to become an equity owner in Starling Brands, and in so doing participating in Starling Brands’ vision and execution as a global leader in the science and production of the highest quality cannabinoid extractions and formulations,” Lionel Kambeitz, Chairman and CEO of HTC said. “The benefits that will be provided to the global community are consistent with the irreversible momentum of changing perceptions and acceptance of the planet’s most useful and beneficial plant.”

“The acquisition of this equipment allows Starling Brands to expand our capacity in becoming one of the largest manufacturers of distillate in California, while continuing to scale our production of best-in-class packaged cannabis consumer goods,” said Drew Ford, Chief Science Officer of Starling Brands. “The opportunity to scale quickly is beneficial to our growth and creates immediate value for our shareholders, and we are excited that HTC shares this vision and will become shareholders of Starling.”

Starling Brands and HTC are not affiliated, and are not considered to be a non-arm’s length party. The Transaction remains subject to customary closing conditions, and is expected to complete on December 31, 2021.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE RELEASE.

For more information contact:

Jeffrey Allison,

HTC Extraction Systems Tel: 306‐352-6132

E‐mail: [email protected]

HTC corporate developments can be followed on www.htcextraction.com and is traded under the symbol HTC

This press release contains “forward-looking statements” or “forward-looking information” (collectively referred to herein as “forward-looking statements”) within the meaning of applicable securities legislation. Such forward-looking statements include, without limitation, forecasts, estimates, expectations, and objectives for future operations that are subject to several assumptions, risks, and uncertainties, many of which are beyond the control of HTC. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur or be achieved. This press release contains forward-looking statements pertaining to, among other things, the timing and ability Starling’s timing and ability to successfully close its financing, list its securities on an exchange in Canada.

Forward-looking information is based on current expectations, estimates and projections that involve a number of risks, which could cause actual results to vary and, in some instances, to differ materially from those anticipated by HTC and described in the forward-looking information contained in this press release.

Although HTC believes that the material factors, expectations and assumptions expressed in such forward- looking statements are reasonable based on information available to it on the date such statements were made, no assurances can be given as to future results, levels of activity and achievements and such statements are not guarantees of future performance.

HTC Purenergy Inc. (OTCQB:HTPRF) trades on the OTCQB Venture Market for early stage and developing U.S. and international companies. Companies are current in their reporting and undergo an annual verification and management certification process. Investors can find real-time quotes and market information for the company on www.otcmarkets.com. (links to: http://www.otcmarkets.com/stock/htprf/quote).

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.