HEMPFUSION WELLNESS INC - CBDHF STOCK NEWS

HempFusion Wellness Inc. (TSX:CBD.U, OTCQX:CBDHF) announced a corporate update following the completion of its acquisitions of APCNA Holdings LLC and Sagely Enterprises Inc. The company projects a revenue increase, expecting USD$12.5 million to $13.5 million in fiscal 2021 and USD$20 million to $25 million in 2022. With a significant retail presence in over 15,000 locations, HempFusion is also positioned to expand its market reach globally. The company maintains a healthy balance sheet with approximately USD$11.4 million in cash.

HempFusion Wellness reported significant growth in its Q2 2021 financial results, with revenues up 84% year-over-year to $1.2 million. Direct-to-consumer eCommerce sales surged 268% compared to last year, driven by effective marketing. The company launched a private label division, securing a $250,000 initial contract. Additionally, it closed acquisitions of Sagely Enterprises and APCNA Holdings, expanding distribution to over 15,000 locations. Operating expenses rose to $6.57 million due to acquisition and marketing costs, while gross profit improved to 19% of revenues from a loss in the prior year.

HempFusion Wellness Inc. (TSX:CBD.U) (OTCQX:CBDHF) announces its second-quarter financial results will be reported on August 16, 2021, at 8:00 a.m. ET, followed by a conference call at 8:30 a.m. ET for Q&A. The company offers premium probiotic supplements and CBD products, distributing to approximately 4,000 retail locations in the U.S. and select international markets. HempFusion has 48 SKUs and an additional 30 products under development, underlining its commitment to research and compliance in the health and wellness sector.

HempFusion Wellness Inc. (OTCQX: CBDHF) has launched a new line of CBD gummies aimed at capturing a growing market, projected to reach $1.8 billion by 2026. Utilizing a proprietary broad-spectrum hemp extract, these gummies feature natural ingredients and are now available online and in various retail locations. CEO Jason Mitchell stated that the gummies are a key revenue driver. The gummies come in Elderberry CBD Immune Support and Summer Cherry flavors, are vegan, gluten-free, and priced between $3.49 to $29.99. Initial consumer feedback highlights favorable taste and packaging.

HempFusion Wellness Inc. has successfully completed the acquisition of APCNA Holdings LLC (Apothecanna) for an initial consideration of US$15 million, which includes the issuance of common shares and potential milestone payments of up to US$10 million based on revenue targets. This acquisition triples HempFusion's proforma revenue to ~$12 million and expands its distribution to an additional 1,800 stores, including CVS. The deal enhances HempFusion's market presence and product offerings, making it immediately accretive and strengthening its position in the CBD industry.

HempFusion Wellness Inc. (TSX:CBD.U) (OTCQX:CBDHF) has completed its acquisition of Sagely Enterprises Inc., significantly expanding its market reach. This acquisition adds over $4.19 million in net revenue and an immediate distribution network to 14,000 retailers nationwide. The deal, valued at US$25 million, is expected to triple HempFusion’s revenue when combined with a previous acquisition. It also presents cross-platform opportunities and introduces new ingestible CBD products, enhancing HempFusion's growth strategy in 2021 and beyond.

HempFusion Wellness has announced the promotion of Maria Leal to Interim Chief Financial Officer, following the departure of Bruce Valentine on June 16, 2021. Ms. Leal, a CPA with an MBA, has been with the company since July 2019 and has played a key role in financial reporting. The company expresses condolences to Valentine for his personal loss and affirms confidence in Leal’s capabilities during this transition. HempFusion, a leader in CBD products and probiotic supplements, operates across approximately 4,000 retail locations in the US and is continuing to expand its product line.

HempFusion Wellness Inc. (US:CBDHF) has launched its EU-compliant Probulin probiotic products in Boots Ireland, marking a significant retail partnership with the country's largest pharmacy. With products now available in nearly 50% of Boots stores, HempFusion aims to further expand its presence across Ireland, the UK, and Europe. This launch follows an initial distribution agreement signed in January. The company emphasizes its commitment to regulatory compliance and safety, with a diverse product range and ongoing research for new offerings.

HempFusion Wellness announces a significant milestone, securing a 10 SKU private label deal with a leading national grocery retailer, enhancing its Private Label division. This deal, valued at approximately $250,000, is set to ship in July 2021, representing a major opportunity for growth. Anticipated revenues from this partnership could exceed $500,000 in 2021 and reach $1,000,000 or more in 2022. To support this expansion, HempFusion plans to bolster its workforce and invest in its distribution facility.