CENTR Brands Corp. Hires Carlyle Group Executive David Young as CFO

Vancouver, British Columbia–(Newsfile Corp. – June 7, 2021) – CENTR Brands Corp. (CSE: CNTR) (FSE: 303) (OTCQB: CNTRF) (the “Company“), a leading CBD beverage company today announced that current Board member David Young has joined the Company as Chief Financial Officer. Young brings more than 20 years of executive and financial leadership to CENTR, drawing on roles in both industry and private equity settings. He joins CENTR’s executive team from global investment firm The Carlyle Group, where he served as a Principal.

The addition of Young to the executive team allows current President and CFO Arjan Chima to prioritize his focus on commercial and marketing opportuinties, including further scaling the Company’s distribution and product offerings that have supported the significant growth CENTR continues to experience.

At CENTR, Young will oversee all of the Company’s financial and accounting activities, including long-term strategic growth and investment initiatives that will support the Company’s ongoing market expansion. He will report directly to CEO Joseph Meehan.

“Arjan and I are thrilled to have David join our executive team after spending the last year on our Board” said Joseph Meehan. “He brings a wealth of financial and analytical experience, and will have an immediate impact on our ability to manage the exponential growth we expect in our new fiscal year and beyond.”

In addition to his role at The Carlyle Group, Mr. Young’s experience includes roles at leading investment institutions including Perella Weinberg Partners, and as a director of private equity firm Talara Capital Management. Mr. Young is a distinguished alumni of the University of Virginia’s McIntire School of Commerce, where he has been a guest lecturer on a number of topics.

“CENTR has quickly established itself as a market leader in the global functional beverage space, as evidenced by its remarkable trajectory over the past year,” said Young. “I am excited to make the move from the Board to to the executive team as the Company contines to evolve within a dynamic and expanding marketplace” he added.

About CENTR Brands Corp. CENTR Brands Corp. develops and markets non-alcoholic, functional beverages for the global market. The Company’s first product, named CENTR, is a sparkling, low-calorie, CBD beverage. For more information visit www.findyourcentr.com, and follow on Instagram at @findyourcentr.

For further information, contact Joseph Meehan at jmeehan@centrcorp.com.

On behalf of the Board,

CENTR BRANDS CORP.

/s/ Joseph Meehan

Joseph Meehan, Chairman & Chief Executive Officer

This press release may contain “Forward-Looking Statements” within the meaning of applicable Canadian securities laws. Actual results may differ from those indicated as a result of finalization of the Company’s financial statements as well as other risks and uncertainties. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.

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