cbdMD Therapeutics Announces Launch Of Animal Health Study In Collaboration With Colorado State University’s Veterinary Program

Study To Explore Effects of cbdMD’s Proprietary Cannabinoid Blend On Pets Who Suffer From Osteoarthritis

cbdMD, Inc. (NYSE American: YCBD, YCBDpA) (the “Company”), one of the leading, and most highly trusted and recognized cannabidiol (CBD) company, announced today that its recently formed subsidiary, cbdMD Therapeutics, has begun a collaboration with researchers at the Colorado State University (CSU) veterinary program, to explore the effects of the Company’s patent pending, proprietary cbdMD branded cannabinoid blend on dogs that suffer from osteoarthritis. The results from this study will provide validating data on the efficacy of the Company's products in reducing pain and improving joint mobility in dogs. The Company expects the full study to be complete by the Spring 2022. cbdMD’s Paw CBD brand is one of the leading CBD animal health brands in the U.S.

“It has been estimated that one in five dogs are diagnosed with osteoarthritis in their lifetime. With almost 1 billion dogs globally and over 75 million in the US, osteoarthritis effects millions of our loved ones. Paw CBD is committed to providing products that can improve our pet’s quality of life and provide relief for joint discomfort for the millions of pets who suffer from this disease. Our partnership with CSU will serve as the foundation for future work where we will explore the clinical impact of our proprietary broad spectrum cannabinoid blend on pain and mobility in our pets,” said Martin Sumichrast, Chairman and Co-CEO of cbdMD, Inc.

About cbdMD, Inc.

cbdMD, Inc. is one of the leading and most highly trusted and most recognized cannabidiol (CBD) brands with a comprehensive line of U.S. produced, THC-free¹ CBD products. Our cbdMD brand currently includes over 130 SKUs of high-grade, premium CBD products including CBD tinctures, CBD gummies, CBD topicals, CBD capsules, CBD bath bombs, CBD bath salts, CBD sleep aids and CBD drink mixes. Our Paw CBD brand of pet products includes over 45 SKUs of veterinarian-formulated products including tinctures, chews, topicals products in varying strengths, and our CBD Botanicals brand of beauty and skincare products features 15 SKUs, including facial oil and serum, toners, moisturizers, clear skin, facial masks, exfoliants and body care. To learn more about cbdMD and their comprehensive line of U.S. grown, THC-free¹ CBD oil products, please visit www.cbdmd.com, follow cbdMD on Instagram and Facebook, or visit one of the 6,000 retail outlets that carry cbdMD products.

¹ THC-free is defined as below the level of detection using validated scientific analytical methods.

Forward-Looking Statements

This press release contains certain forward-looking statements that are based upon current expectations and involve certain risks and uncertainties within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements can be identified by the use of words such as ''should,'' ''may,'' ''intends,'' ''anticipates,'' ''believes,'' ''estimates,'' ''projects,'' ''forecasts,'' ''expects,'' ''plans,'' and ''proposes.'' These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and other factors, some of which are beyond our control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements including our ability to meet our net sales guidance for the first quarter of fiscal 2022. You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading "Risk Factors" in cbdMD, Inc.'s Annual Report on Form 10-K for the fiscal year ended September 30, 2020 as filed with the Securities and Exchange Commission (the "SEC") on December 22, 2020, Item 1A. Risk Factors, contained in our Quarterly Report on Form 10-Q for the period ended March 31, 2021 as filed with the SEC on May 12, 2021 and our other filings with the SEC. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, many of which are generally outside the control of cbdMD, Inc. and are difficult to predict. cbdMD, Inc. does not undertake any duty to update any forward-looking statements except as may be required by law. The information which appears on our websites and our social media platforms, including, but not limited to, Instagram and Facebook, is not part of this press release.

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