HempFusion Commends the Proposed Hemp Access and Consumer Safety Act
May 21 2021 - 7:05AM
Business Wire
HempFusion is One of a Select Few Brands
Prepared for FDA Compliance
HempFusion Wellness Inc. (TSX:CBD.U) (OTCQX:CBDHF)
(FWB:8OO) (“HempFusion” or the “Company”), a leading health and
wellness Company offering premium probiotic supplements and
products containing CBD, commends the Hemp Access and Consumer
Safety Act (the “Act” or “Bill”), filed by Senators Ron Wyden (D-
Ore.), Rand Paul (R-Ky.) and Jeff Merkley (D-Ore.) that aims to add
hemp, hemp-derived cannabidiol, or a substance containing any other
ingredient derived from hemp to the definition of dietary
supplement according to the Federal Food, Drug, and Cosmetic Act
and would remove certain restrictions that have blocked the
emergence of legal consumable hemp products in the United
States.
HempFusion has been a longstanding member of the US Hemp
Roundtable which is a major advocate for the Bill.
“HempFusion is prepared for both GRAS (Generally Recognized as
Safe) and NDIN (New Dietary Ingredient Notification) which
separates us from the vast majority of CBD brands on the market
today,” stated Dr. Jason Mitchell, HempFusion’s Co-Founder and
Chief Executive Officer. “We proudly endorse and commend The Hemp
Access and Consumer Safety Act and thank Senators Wyden, Paul and
Merkley for their bipartisan support. A major component of our
strategic business plan has been to prepare for this day and now we
are finally at the door of what will open up the CBD industry for
those brands that can properly adhere to FDA’s requirements,”
continued Dr. Mitchell.
“While the Senate bill is more comprehensive than the previously
introduced House bill H.R. 841, passage of either will provide a
vast and very important boost to the hemp industry, benefitting
farmers, producers, manufacturers, small and large retailers and,
most importantly, consumers,” stated Ola Lessard, HempFusion’s
Chief Marketing Officer. “The lack of clear regulation for the past
several years has had devastating economic impact across many
sectors. It’s also allowed fly-by-night companies to thrive,
selling products that don’t meet label claims, aren’t manufactured
properly, and – in some cases – are actually dangerous to
consumers,” continued Lessard.
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 strategic business plan 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/20210521005089/en/
Jason Mitchell, N.D. Chief Executive Officer and Director Email:
ir@hempfusion.com Phone: 416-803-5638
HempFusion Wellness (TSX:CBD.U)
Historical Stock Chart
From Mar 2024 to Apr 2024
HempFusion Wellness (TSX:CBD.U)
Historical Stock Chart
From Apr 2023 to Apr 2024