HempFusion Launches Ingestible and Topical CBD Products into Major Arizona Grocer

Rhea-AI Summary

HempFusion Wellness Inc. (OTCQX: CBDHF) is expanding its retail presence by launching CBD products in nearly 50 locations of a major Arizona grocer. This move capitalizes on the rapid growth of the grocery channel for CBD, projected to reach $769 million by 2026. The company’s total store count now exceeds 15,000 across the U.S. CEO Jason Mitchell highlights the opportunity in Arizona, which ranks high in CBD consumption, and anticipates further updates with the upcoming third-quarter financial results in mid-November.

Positive

• Expansion into nearly 50 retail locations, increasing product availability.
• Projected growth of CBD sales in grocery channel, reaching $769 million by 2026.
• Total store count exceeds 15,000, indicating strong market presence.

Negative

• None.

HempFusion Drives CBD Retail Push Across Influential State via Key Grocery Channel

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 the launch of HempFusion Ingestible and Topical CBD products into nearly 50 retail locations of a major Arizona grocer.

HempFusion CBD Products (Photo: Business Wire)

According to Brightfield Group, the grocery channel will be the fastest growing channel for CBD products between 2021 and 2026. In 2021, CBD sales in this channel are expected to grow to $165 million, up 151% from 2020, and forecast to reach $769 million in 2026.

With products already available across the state, Arizona consumers have more than 20 HempFusion SKUs to choose from, including USDA Organic Certified Tinctures, Sleep and Stress Support Capsules, delicious Summer Cherry and Elderberry Gummies, and a variety of best-in-class over-the-counter (OTC) Topicals. In addition, four SKUs of HempFusion’s wholly-owned subsidiary, Sagely Naturals, are on store shelves, including Relief & Recovery Cream, Active Roll-On, and Extra Strength Spray.

“We continue to make great progress expanding our retail footprint in order to capitalize on our strong brand portfolio and growing consumer trends in the CBD category,” said Jason Mitchell, N.D., HempFusion‘s Co-Founder and Chief Executive Officer. “Adding this new key grocery retailer in a market like Arizona which over-indexes on per-capita CBD consumption versus most other states, helps us gain greater share in the state, and positions the Company for future potential regulatory changes. Total store count for our products across the US is climbing, now exceeding the 15,000 locations we had communicated previously, and we expect to provide additional details about our brick & mortar progress with the release of our third-quarter financial results scheduled for mid-November,” 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. Follow HempFusion 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 expansion of the Company’s retail footprint, potential regulatory changes 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/20211028005255/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

What is the recent development for HempFusion (CBDHF) in Arizona?

HempFusion has launched its CBD products in nearly 50 retail locations of a major Arizona grocer.

How many retail locations does HempFusion currently have?

HempFusion's products are now available in over 15,000 retail locations across the U.S.

What is the future outlook for CBD sales in grocery stores?

CBD sales in grocery stores are expected to grow from $165 million in 2021 to $769 million by 2026.

When will HempFusion announce its third-quarter financial results?

HempFusion plans to release its third-quarter financial results in mid-November.

What products does HempFusion offer in Arizona?

Arizona consumers can choose from over 20 HempFusion SKUs, including tinctures, capsules, gummies, and topicals.