HempFusion Comments on Recent Trading Activity, All Projects, Incl. Five Channel Strategy, in Motion and Strong Cash-On-Hand
April 15 2021 - 3:49PM
Business Wire
HempFusion Wellness Inc. (TSX:CBD.U) (US:CBDHF) (FWB:8OO)
(“HempFusion” or the “Company”) issues this press
release in response to recent trading activity and the decline in
its share price. The Company wishes to reassure investors that all
aspects of its business, including the five-channel distribution
strategy, are in-motion and that there are no undisclosed events
that the Company believes warrant the share price decline.
The Company has disclosed all material information in its press
releases and other disclosure documents in compliance with its
continuous disclosure obligations. HempFusion further confirms that
its material contracts and relationships with its key distributors,
both domestic and international, are in good standing.
“HempFusion is powering ahead, and I wanted to take the time to
reassure investors that the decline in the stock price cannot be
explained by an undisclosed development at the Company, as all
material information has been disclosed and is readily available,”
commented Jason Mitchell, N.D., the Company’s Co-Founder and Chief
Executive Officer. "We believe the Company is in the strongest
position it has ever been with significant partnerships,
developments, new distributors, and international channels deep in
development, including a significant sales pipeline, consumers
returning to stores, multiple international expansion initiatives,
and a robust balance sheet, including a strong cash position of
approximately US$9.3 million as of December 31, 2020 in addition to
the closing of the Company’s US$17 million initial public offering
on January 6, 2021.
HempFusion remains, according to Brightfield Group, the #2
ranked CBD brand in Awareness. Probulin Probiotics finished 2020 as
the fastest-growing Probiotic brand out of the Top 15 in the US,
according to SPINS. The Company’s OTC Tropical products have ranked
#1 in both sales dollars and units sold at a major Food & Drug
Mass retailer in the US, according to NielsenIQ, and the Company
has relaunched its website and digital strategy, resulting in a 10x
increase to traffic. The Company remains excited and committed to
strengthening its existing position as a leading health and
wellness CBD company with a global reach.
ABOUT HEMPFUSION
HempFusion is a leading health and wellness CBD company
utilizing the power of whole-food hemp nutrition. HempFusion
distributes its family of brands, including HempFusion, Probulin
Probiotics, Biome Research, and HF Labs, to approximately 4,000
retail locations across all 50 states of the United States and
select international locations. Built on a foundation of regulatory
compliance and human safety, HempFusion’s diverse product portfolio
comprises 48 SKUs including tinctures, proprietary FDA Drug Listed
Over-The-Counter (OTC) Topicals, Doctor/Practitioner Lines and
more. With a strong focus on research and development, HempFusion
has an additional 30 products under development. HempFusion is a
board member of the US Hemp Roundtable, and HempFusion’s
wholly-owned subsidiary, Probulin Probiotics, is one of the
fastest-growing probiotics companies in the United States,
according to SPINs reported data. HempFusion’s CBD products are
based on a proprietary Whole Food Hemp Complex™ and are available
in-store or by visiting HempFusion online at www.hempfusion.com or
www.probulin.com.
Follow HempFusion on Twitter, Facebook and Instagram and
Probulin on Twitter, Facebook and Instagram.
FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements and
forward-looking information within the meaning of Canadian
securities legislation (collectively, “forward-looking
statements“) that relate to HempFusion’s current expectations
and views of future events. Any statements that express, or involve
discussions as to, expectations, beliefs, plans, objectives,
assumptions or future events or performance (often, but not always,
through the use of words or phrases such as “will likely result”,
“are expected to”, “expects”, “will continue”, “is anticipated”,
“anticipates”, “believes”, “estimated”, “intends”, “plans”,
“forecast”, “projection”, “strategy”, “objective” and “outlook”)
are not historical facts and may be forward-looking statements and
may involve estimates, assumptions and uncertainties which could
cause actual results or outcomes to differ materially from those
expressed in such forward-looking statements. No assurance can be
given that these expectations will prove to be correct and such
forward-looking statements included in this news release should not
be unduly relied upon. These statements speak only as of the date
of this news release. In particular and without limitation, this
news release contains forward-looking statements relating to the
Company’s expansion strategy and the Company’s other plans, focus
and objectives.
Forward-looking statements are based on a number of assumptions
and are subject to a number of risks and uncertainties, many of
which are beyond HempFusion’s control, which could cause actual
results and events to differ materially from those that are
disclosed in or implied by such forward-looking statements. Such
risks and uncertainties include, but are not limited to, the impact
and progression of the COVID-19 pandemic and other factors set
forth under “Cautionary Note Regarding Forward-Looking Statements”
and “Risk Factors” in the annual information form of the Company
dated March 31, 2021 and available under the Company’s profile on
SEDAR at www.sedar.com. HempFusion undertakes no obligation to
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except as
may be required by law. New factors emerge from time to time, and
it is not possible for HempFusion to predict all of them or assess
the impact of each such factor or the extent to which any factor,
or combination of factors, may cause results to differ materially
from those contained in any forward-looking statement. Any
forward-looking statements contained in this news release are
expressly qualified in their entirety by this cautionary
statement.
Neither the TSX nor its Regulation Services Provider (as that
term is defined in the policies of the TSX) accepts responsibility
for the adequacy or accuracy of this release.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210415006013/en/
Jason Mitchell, N.D. Chief Executive Officer and Director Email:
ir@hempfusion.com Phone: 416-803-5638
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