HempFusion Commends the Proposed Hemp Access and Consumer Safety Act
HempFusion Wellness commends the Hemp Access and Consumer Safety Act, introduced by Senators Wyden, Paul, and Merkley, which aims to redefine hemp and CBD as dietary supplements under U.S. federal law. This bill would eliminate barriers for legal hemp products in the U.S. and supports HempFusion's readiness for regulatory compliance through GRAS and NDIN designations. The Act is expected to significantly benefit various stakeholders in the hemp industry by providing clarity and safety regulations, addressing existing economic impacts from unclear regulations.
- Support for the Hemp Access and Consumer Safety Act could expand hemp-derived product market opportunities.
- HempFusion is prepared for GRAS and NDIN compliance, enhancing its market position among CBD brands.
- The proposed legislation would provide important regulatory clarity, potentially boosting consumer trust.
- None.
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.
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FAQ
What is the Hemp Access and Consumer Safety Act?
Who introduced the Hemp Access and Consumer Safety Act?
How will the Hemp Access and Consumer Safety Act impact the CBD industry?
What is HempFusion's position on the new bill?
Why is the Hemp Access and Consumer Safety Act important for consumers?
