HEMPFUSION WELLNESS INC - CBDHF STOCK NEWS

HempFusion Wellness Inc. (OTCQB:CBDHF) reported a 155% increase in consolidated net revenue for Q3 2021, totaling $3.1 million, compared to $1.2 million in Q3 2020. Direct-to-consumer (DTC) eCommerce saw a 190% increase, driven by recent acquisitions and enhanced marketing. Gross profit improved to 43% of net revenue, while operating expenses increased by 14% to $7.5 million. The cash position was $5.4 million. Looking forward, the company expects Q4 strength and a revenue guidance of $20-$25 million for 2022.

HempFusion Wellness Inc. (TSX:CBD.U) (OTCQX:CBDHF) announced its financial results for the quarter ending September 30, 2021, will be released on November 15, 2021, at 7:00 a.m. ET. A conference call will follow at 8:30 a.m. ET the same day. HempFusion is committed to meeting FDA guidance and offers a diverse range of CBD and probiotic products. Catering to the US market with 18,000 retail locations, HempFusion's portfolio includes over 112 SKUs, with 43 products under development.

HempFusion Wellness Inc. (OTCQX: CBDHF) has expanded its retail presence to over 18,000 locations across the U.S., exceeding its target of 2,000 new stores for the year. This growth includes new partnerships with a Top 15 U.S. supermarket chain in the Southeast, adding HempFusion's OTC Pain Relief Cream and ingestible products to approximately 400 stores. The company continues to enhance its health and wellness brand visibility, focusing on providing premium probiotic supplements and CBD products, with plans for further expansion.

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.

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.

HempFusion Wellness Inc. (TSX:CBD.U, OTCQX:CBDHF) announces its readiness to expand operations in California following the passage of Assembly Bill 45, which allows the retail sale of hemp-derived products. CEO Jason Mitchell emphasized the company's regulatory compliance and existing distribution network, positioning it as a leading player in the state. With over 15,000 retail locations nationwide and a robust product portfolio, HempFusion looks to meet growing consumer demand while bolstering future revenue aspirations.

HempFusion Wellness Inc. has closed a private placement of 11,770,000 units at US$0.25 per unit, raising approximately US$2.94 million. Each unit consists of a common share and a warrant exercisable at US$0.50 for four years. Insiders acquired 1,600,000 units, signaling confidence in the company’s growth strategies. Proceeds will enhance working capital and support marketing initiatives. The company operates in over 15,000 U.S. retail locations and aims to expand its online and wholesale presence, with new product lines under development.

HempFusion Wellness Inc. (TSX:CBD.U) (OTCQX:CBDHF) has expanded its non-brokered private placement from USD $2,000,000 to over USD $2,500,000 to meet increased investor demand. This funding will bolster the company's financial position as it navigates the current market. The private placement's closing date has been extended to September 30, 2021, pending necessary approvals. Additionally, David Doherty has resigned as a director of the company.