Charlotte's Web Announces Board Transition as Co-Founder Jared Stanley Deepens Focus on DeFloria

Mr. Stanley to dedicate his full attention to advancing DeFloria's FDA Phase 2 botanical drug program, a Charlotte's Web-affiliated clinical-stage venture

Louisville, Colorado--(Newsfile Corp. - June 5, 2026) - Charlotte's Web Holdings, Inc. (TSX: CWEB) (OTCQX: CWBHF) ("Charlotte's Web" or the "Company"), a botanical wellness innovation company and a market leader in hemp extract wellness, today announced that co-founder Jared Stanley has stepped down from its Board of Directors, effective June 3, 2026, to dedicate his full attention to his role as Chief Executive Officer of DeFloria, Inc. ("DeFloria"), the clinical-stage botanical pharmaceutical company co-founded by Charlotte's Web. Mr. Stanley's decision is supported by management and the Board.

A member of the founding family that created Charlotte's Web, Mr. Stanley has helped shape the Company since its earliest days and has been instrumental in advancing its cultivation, genetics, and regulatory initiatives. He will remain closely connected to Charlotte's Web and available to support and advise the Company where its cultivation and regulatory work intersect with DeFloria's drug development. As a co-founder and shareholder in DeFloria, Charlotte's Web continues to participate directly in the progress of DeFloria's clinical-stage pipeline.

Jared Stanley is also a representative on ONE HEMP, co-founded by Charlotte's Web, the national industry coalition advancing responsible federal hemp regulation and consumer protection, and will continue in that role.

"On behalf of the entire Board and management team, we thank Jared for his vision and his many contributions as a founder of Charlotte's Web. Charlotte's Web and DeFloria are intertwined, and we fully support Jared as he turns his focus to advancing and financing DeFloria's clinical mission. We look forward to seeing both companies continue to grow and to serve the patients, families, and shareholders who depend on them," said Angela McElwee, Chair of the Board of Charlotte's Web.

DeFloria: The Opportunity

DeFloria is an FDA Phase 2 clinical-stage botanical pharmaceutical company developing AJA001 oral solution, an investigational botanical drug being developed for irritability associated with autism spectrum disorder, a condition that currently lacks adequate approved treatment options. Formed in 2023 by Charlotte's Web and AJNA BioSciences PBC, with a subsidiary of British American Tobacco p.l.c. as lead investor, DeFloria is advancing AJA001 through the U.S. Food and Drug Administration's Botanical Drug Pathway using Charlotte's Web's proprietary full-spectrum hemp genetics.

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