HEMPFUSION WELLNESS INC - CBDHF STOCK NEWS

HempFusion Wellness Inc. (Ticker: CBDHF) has provided an update regarding its management cease trade order (MCTO) issued on April 1, 2022, due to delays in filing its annual financial statements for 2021. The company has received an extension until June 29, 2022, to submit these filings. Progress is ongoing with its audit team, and no material issues have arisen. The MCTO affects the trading of securities by the CEO and CFO only, allowing other shareholders to continue trading. HempFusion plans to issue bi-weekly updates on the status of the filings.

HempFusion Wellness Inc. (TSX:CBD.U, OTCQB:CBDHF) provided an update on its voluntary management cease trade order (MCTO) issued by the British Columbia Securities Commission on April 1, 2022. The Company reports progress in filing its annual financial statements, aiming for completion by May 30, 2022. The MCTO affects only the CEO and CFO's trading, while other shareholders can trade normally. No changes to previous default announcements or material information have been indicated, and the Company plans to issue bi-weekly updates as required.

HempFusion Wellness Inc. (TSX:CBD.U) provides an update regarding its voluntary management cease trade order (MCTO) issued on April 1, 2022, due to delays in annual financial filings. The company reports no material issues impacting filing progress, expecting to submit by May 30, 2022. Confirming compliance with alternative information guidelines, HempFusion reassures no anticipated defaults beyond the MCTO, allowing other securityholders to trade freely. The company boasts a diverse portfolio of health and wellness products, with 112 SKUs and ongoing development on 43 products.

HempFusion Wellness Inc. (CBDHF) has provided an update on its management cease trade order (MCTO) issued on April 1, 2022, due to challenges in auditing its annual financial filings. The company is consolidating the financial statements of its subsidiaries, Sagely Enterprises Inc. and APCNA Holdings LLC, acquired in 2021. Despite these complexities, HempFusion anticipates filing the annual financials by May 30, 2022. The MCTO only affects the company's CEO and CFO, while other shareholders can continue trading.

HempFusion Wellness announces amendments to its brokered private placement of convertible debenture units, initially set at 3,000 units for US$3.0 million. The updated offering will now consist of up to 2,233 units, raising US$2.233 million. Key changes include a reduction in the conversion price to US$0.10 per share and an increase in warrants from 3,333 to 5,000 per unit. The amendments are pending approval from the Toronto Stock Exchange.

HempFusion Wellness Inc. reported a strong Q4 2021, with net revenue reaching $3.7 million, a 66% increase year-over-year. Gross profit remained stable at $1.6 million, representing 43% of net revenue despite rising costs. The company executed cost-saving initiatives, anticipating a $6 million reduction in operating expenses for 2022. Annual revenue increased by 36% to $9.1 million. However, management has voluntarily applied for a management cease trade order due to the delayed filing of 2021 financial statements, expected by April 29, 2022.

HempFusion Wellness Inc. (TSX:CBD.U, OTCQB:CBDHF) announced a distribution agreement with a major U.S. retailer, set to place its non-CBD topical products in over 3,700 additional locations by April 2022. This expansion will increase its retail presence from approximately 18,000 to nearly 22,000 locations, including nine of the top ten largest Food, Drug & Mass retailers. The company reports strong initial uptake for its new Sagely Naturals product line, positioning itself for significant growth despite a challenging CBD market.

HempFusion Wellness Inc. (TSX:CBD.U, OTCQB:CBDHF) has announced a brokered private placement offering to raise up to US$3.0 million. The offering will consist of up to 3,000 convertible debenture units, priced at US$1,000 each, yielding a 10% interest rate, convertible at US$0.15 per share. Proceeds will support working capital and debt repayment. The deal includes 3,333 warrants per unit, allowing shares to be purchased at US$0.20 each. Closing is expected in the week of March 28, 2022.

HempFusion Wellness Inc. (TSX:CBD.U, OTCQB:CBDHF) has attained self-affirmed GRAS status for its proprietary hemp-derived CBD extract, a significant milestone that enhances market positioning and potential retail growth. This recognition allows the extract to be used legally in foods, beverages, and dietary supplements. The company has also prepared a New Dietary Ingredient Notification (NDIN) in anticipation of upcoming FDA regulations. This compliance may open new retail opportunities with major retailers seeking safe and compliant brands.