HempFusion Appoints Maria Leal as Chief Financial Officer

Rhea-AI Summary

HempFusion Wellness Inc. has announced the promotion of Maria Leal to Chief Financial Officer, elevating her from the role of Vice President and Interim CFO. With over 20 years in financial management and a CPA and MBA, Ms. Leal has been crucial in the company's financial reporting since joining in July 2019. CEO Jason Mitchell emphasized her industry connections and strategic financial stewardship, asserting her role is vital for HempFusion's growth. The company is well-positioned within the CBD market, maintaining FDA compliance readiness and a diverse product line.

Positive

• Promotion of Maria Leal enhances leadership continuity.
• Leal's extensive experience may strengthen financial reporting.
• Company remains compliant with FDA guidelines.
• Diverse product portfolio with 112 SKUs including 43 in development.

Negative

• Transition in leadership may raise short-term continuity concerns.

DENVER--(BUSINESS WIRE)-- 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, is pleased to announce that it has promoted Maria Leal, the Company’s Vice President, Controller and Interim Chief Financial Officer, to Chief Financial Officer.

Ms. Leal holds a CPA and an MBA and has a strong track record in financial management having served in various senior financial accounting positions during her more than 20-year career. Since joining HempFusion in July of 2019, Ms. Leal has been instrumental in all financial reporting aspects for the Company.

“Having Maria continue as our full-time Chief Financial Officer will benefit HempFusion since she truly understands the business, is well connected in the industry, and knows how to navigate certain complex regulations,” said Jason Mitchell, N.D., HempFusion’s Co-Founder and Chief Executive officer. “Maria is an outstanding steward and strategist of capital and will play a key role in HempFusion's next phase of growth,” continued Dr. Mitchell.

ABOUT HEMPFUSION

One of a select few CBD companies who are today fully prepared to meet or exceed expected FDA guidance, HempFusion Wellness Inc. is a leading health and wellness company whose family of premium consumer brands include HempFusion™, Sagely Naturals™, Apothecanna™, and Probulin Probiotics™, one of the fastest-growing probiotics companies in the United States according to SPINs reported data.

Utilizing the power of whole-food hemp nutrition, the HempFusion family of brands’ product portfolio comprises 112 SKUs including USDA Organic Certified Tinctures, proprietary FDA Drug Listed Over-The-Counter (OTC) Topicals, probiotic supplements and skin care products, a Doctor/Practitioner line, a White Label division and more. With a strong focus on research and development, HempFusion Wellness has 43 products under development.

Available from more than 15,000 US retail locations across all 50 states, HempFusion Wellness products are also available in China, Mexico, Ireland, United Kingdom, United Arab Emirates, South Korea and Canada and may be purchased online from each brand’s website, The Probulin Store on Amazon.com, Alibaba’s Tmall.com, the world’s largest cross-border online marketplace, and a multitude of additional e-commerce sites.

For more information, visit www.hempfusion.com and follow HempFusion on Twitter, Facebook and Instagram.

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/20211014005163/en/

Investor Relations

Eric Balshin

+1 437-826-9911

eric@sophiccapital.com

Company Contact:

Jason Mitchell, N.D.

Chief Executive Officer and Director

ir@hempfusion.com

Source: HempFusion Wellness Inc.

FAQ

Who is the new Chief Financial Officer of HempFusion?

Maria Leal has been promoted to Chief Financial Officer of HempFusion.

What qualifications does Maria Leal have?

Maria Leal holds a CPA and an MBA with over 20 years of financial management experience.

Why is Maria Leal's promotion significant for HempFusion?

Her promotion is expected to provide leadership continuity and strategic financial oversight as the company grows.

What is HempFusion's readiness concerning FDA regulations?

HempFusion is one of the few CBD companies fully prepared to meet or exceed expected FDA guidance.

How many products does HempFusion currently have?

HempFusion has a product portfolio comprising 112 SKUs and 43 products under development.