DENVER – Charlotte’s Web Holdings, Inc. (“Charlotte’s Web”, “CW” or “Company”), a market leader in CBD full spectrum hemp extract products, is the first company to get form approval and inclusion of its products in Exclusive benefit program for SBM LLC employees. Through this employer-sponsored benefit plan, U.S. employers can now confidently offer employees and their pets coverage and access to Charlotte web products as an alternative health and wellness therapy.
“With nearly 4,000 brands of CBD on sale in the U.S., we are selecting Charlotte’s Web as our flagship offering of full-spectrum hemp extract,” said Bryan Perry, commercial director. Achieving the inclusion of the SBM product form required Charlotte’s Web to show proof of clinical human safety data. In addition, Charlotte’s Web must demonstrate good quality manufacturing in progress, batch-specific product labeling that matches certificates of authenticity, customer education, and attractive pricing.
In an economy increasingly affected by high levels of employee exhaustion and resignation, employers turn to new and significant benefits to attract and retain talent. Now more than ever, employees are asking for natural wellness alternatives to support general health and well-being, such as: mental well-being, sleep, sports, and recovery or discomfort. SBM’s supplemental benefit management offers employers the opportunity to cover natural and wellness alternative therapies to improve employee well-being, hiring, and retention, and reduce overall health care costs. Employers can “couple” this benefit as a complement to traditional health insurance. This provides employees with products of confidence, education, and the ability to track how these therapies affect their health and well-being.
“Through this program, product experience data reveals where natural care and cost options produce better outcomes for both employers and employees,” said Rodney Nuss, Chief Operating Officer of SBM . “Employee involvement can be the best practice solution for some employers to control costs and improve health outcomes. Employers now have the option to add hemp-based wellness coverage with an integrated platform of employee participation to support a healthy workforce and a healthy company “.
From July 2022, employers can enroll directly in the SBM program and determine the desired level of coverage provided for each employee on a monthly or annual basis. Employees then simply sign up and access the program through their MySBM app. SBM represents a “real benefit advantage” for those employers struggling to attract and retain employees. SBM estimates that up to 50,000 employees will participate in the program within twelve months.
“We celebrate our launch in this category as SBM’s lead partner,” said Jacques Tortoroli, Charlotte’s general manager of web. “Expanding access to CBD through employee benefit programs is another way Charlotte’s Web fulfills its mission of broad consumer access to hemp’s daily well-being. Wider access and visibility for hemp. hemp welfare allows people to make more informed health and wellness decisions. “
Employers can learn more about reducing costs and helping employees achieve better health by contacting SBM at 877-726-2363 (877-SBM-Bene) or info@SBMbenefit.com.
About SBM, LLC.
Supplemental Benefit Management, LLC (SBM), based in Colorado, is an innovative benefit management company that offers “fitted” voluntary benefits focused on specific areas of health and well-being for humans and pets as part of benefit plans for to company-sponsored employees. Founded by healthcare, technology and benefits executives with a proven track record of disrupting traditional markets, SBM is at the forefront of merging natural products, consumer experience and the needs of the workforce to provide an industry-leading solution for controlling costs and improving health outcomes. SBM’s offering includes an exclusive product form with the best products and prices in its class, along with an employee participation solution that offers products, education, and results tracking for significant health and wellness areas.
About Charlotte’s Web Holdings, Inc.
Charlotte’s Web Holdings, Inc., a B-certified corporation based in Denver, is the market leader in innovative wellness products with hemp extract under a family of brands that includes Charlotte’s Web, CBD Medic, CBD Clinic and Harmony Hemp. Charlotte’s Web brand premium quality products begin with patented hemp genetics that is grown on a 100% American farm through organic and regenerative farming practices. The company’s hemp extracts contain botanical compounds of natural origin, such as cannabidiol (‘CBD’), CBC, CBG, terpenes, flavonoids and other beneficial 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 of Buffalo, part of the network of New York State University (SUNY). Web product categories include full spectrum hemp CBD oil tinctures (liquid products), CBD jelly beans (sleep, stress, exercise recovery), CBD capsules, topical CBD creams and lotions, as well as CBD pet products for dogs. Through its vertically integrated business model, Charlotte’s Web maintains strict control over product quality and consistency with more than 20 product batch tests to ensure quality. Charlotte’s web products are distributed to more than 15,000 retailers, more than 8,000 healthcare professionals and online through the company’s website at www.CharlottesWeb.com. Charlotte’s Web mission is to “Unleash the healing powers of botanists with compassion and science, benefiting the planet and all who live on it.”
Prospective information
Certain information 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 cases, but not necessarily in all cases, prospective information can be identified through the use of prospective terminology such as “flat,” “objective,” “waiting,” or “not waiting,” “expected.” , ‘there is an opportunity’, ‘position’, ‘estimate’, ‘intend’, ‘assume’, ‘anticipate’ or ‘do not anticipate’ or ‘believe’, or variations of these words and phrases or state that certain actions, events or outcomes ‘could’, ‘could’, ‘could’, ‘could’, ‘will be done’ or ‘will be taken’, ‘will occur’ or ‘would be achieved’. In addition, any statement that refers to expectations, projections, or other characterizations of future events or circumstances contains forward-looking information. Specifically, this press release contains forward-looking information related to, among other things, the future of the Charlotte website and the impacts of management changes.
Statements that contain forward-looking information are not historical facts, but represent? Management’s current expectations, estimates, and projections about the future of our business, future plans, strategies, projections, anticipated events. and trends, the economy and other future conditions. The forward-looking information is necessarily based on a series of opinions, assumptions and estimates that, although the Company considers reasonable at the date of this press release, are subject to risks, uncertainties, assumptions and other known and unknown factors. may cause actual results, activity level, performance, or achievement to be materially different from those expressed or implied by this forward-looking information. The material factors and hypotheses used to develop the prospective information here 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, but are not limited to, the factors discussed in the “Risk Factors” section of the Annual Report of the Company. company most recently 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 submitted to the Securities and Exchange Commission available at www.sec.gov and presentations to the Canadian securities regulators available at www.sedar.com
Contact:
INVESTOR
CORY PALA
Investor relations
Canada
T: (416) 594-3849
USA
T: (720) 484-8930
AND GO[at]charlottesweb.com
