HempFusion Wellness Inc. (TSX:CBD.U) (US:CBDHF) (FWB:8OO)
(“HempFusion” or the “Company”), a leading health and wellness
Company offering premium probiotic supplements and products
containing CBD, is pleased to announce that a leading national
publicly traded grocery retailer has awarded HempFusion with a 10
SKU private label deal officially launching HempFusion’s “Private
Label” division.
This retailer (whose name is not disclosed due to non-disclosure
obligations) is a large national US based company and represents a
significant potential opportunity for HempFusion’s newly launched
Private Label division. Due to the success of HempFusion and its
family of brands & products within the retailer, the retailer
has awarded HempFusion with its soon-to-launch private label
offering including 10 SKUs to be distributed throughout stores
nationwide. The initial order is for approximately $250,000 and is
scheduled to ship in July 2021.
“We are pleased to receive this award and begin supplying our
6th distribution channel: private label,” commented Jon Visser, the
Company’s Chief Revenue Officer. “We anticipate that this initial
$250,000 order is just the beginning and pending sell-through
velocity and distribution, we expect this account to generate north
of $500,000 for HempFusion in 2021 and upwards of $1,000,000 or
more in 2022.”
To fulfill current and future orders of this magnitude,
HempFusion is bolstering its staff and investing further in
additional structural support at its Topeka, Kansas distribution
facility. This distribution expansion will include an investment in
additional equipment and human capital to assure distribution
efficiencies.
“This expansion of our relationship with this retailer is a
testament to the trust, long standing partnership, and success that
we and our branded products have already achieved,” commented Jason
Mitchell, N.D., HempFusion’s Co-Founder and CEO. “We are honored to
receive this award and look forward to how this has the potential
to significantly contribute to the overall success of this
particular retailer and HempFusion and its family of brands,”
continued Dr. Mitchell.
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 “Private Label” revenue and expansion targets and plans,
continued relationship with the retailer, future orders of the
nature described in this news release 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.
This news release also contains future-oriented financial
information and financial outlook information (collectively,
“FOFI”) regarding the Company’s prospective revenue, which is
subject to the same assumptions, risk factors, limitations and
qualifications as set forth above. In addition, in respect of the
revenue projections contained the assumptions used by the Company’s
management to derive these financial projections include, among
other things: (i) the Company’s ability to successfully develop its
products; (ii) the Company’s pricing targets remaining in place;
(iii) the Company’s ability to successfully deploy its products to
this retailer; (iv) the retailer’s timely delivery of all ancillary
components and services; and (v) the Company’s ability to maintain
performance and quality as projects advance and product volume
increases. FOFI was made as of the date of this news release and is
provided for the purpose of describing anticipated sources, amounts
and timing of revenue generation as it relates to this retailer,
and is not an estimate of profitability or any other measure of
financial performance. In particular, revenue estimates do not take
into account the cost of such estimated revenue, including the cost
of goods and the cost of sales. In addition, and for greater
certainty, revenue estimates do not take into account the operating
costs of the Company. The Company disclaims any intention or
obligation to update or revise any FOFI contained in this news
release, whether as a result of new information, future events or
otherwise, unless required pursuant to applicable law. FOFI
contained in this news release should not be used for purposes
other than for which it is disclosed herein.
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/20210603005242/en/
Jason Mitchell, N.D. Chief Executive Officer and Director Email:
ir@hempfusion.com Phone: 416-803-5638
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