cbdMD, Inc. (NYSE American: YCBD, YCBDpA) (the “Company”), one of the leading, and most highly trusted and recognized cannabidiol (CBD) brands, announced today that it has commenced a preclinical human study with researchers at the University of South Carolina. The study will explore the effects of cbdMD’s proprietary broad spectrum cannabinoid blend on sleep, mood, and pain in healthy subjects to further support the efficacy of the Company’s products. The studies will also be measuring key safety markers in healthy humans to augment the Company’s safety dossiers for regulatory submissions. The Company anticipates that these favorable outcomes will be the basis for future drug research and applications by its therapeutics division.

“This partnership reaffirms to our consumers that cbdMD is committed to providing products that make a real impact on their daily lives. We expect that this study will not only reaffirm that our products are safe and efficacious to support and maintain a healthy lifestyle but will also serve as the foundation for future work to explore the clinical impact of our broad-spectrum cannabinoid blend on areas that matter most to our customers. We want to educate our customers on the benefits of our products and this study will serve as the foundation for that education. This study is another example of our commitment to safety, quality and efficacy for our customers,” said Sibyl Swift, Ph.D., cbdMD’s Vice President, Scientific & Regulatory Affairs.

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. The 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, CBD drink mixes and full spectrum CBD options. 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. The company also offers a line of full spectrum products (approximately 10 SKUs) under its cbdMD brand. 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.

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, without limitation, statements made with respect to the expansion of the consumer market for CBD products, our ability to increase our market share, the availability of the Amazon platform for our CBD products, our ability to expand our business and significantly increase our revenues, our ability to effectively leverage our brand partnerships and sponsorships, our ability to effectively compete in our market, our ability to achieve our net sales guidance, and our ability to report profitable operations in the future. 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") 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.

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

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