CBDHF - HempFusion to acquire CBD brand Apothecanna

HempFusion Wellness (CBDHF) has entered into a Purchase Agreement to acquire 100% interest in APCNA Holdings (Apothecanna). Pursuant to the terms of agreement, HempFusion will acquire Apothecanna for initial consideration of $15M payable in cash, common shares of the Company or a combination of both, with any HempFusion Shares so issued to be valued at a deemed price per of ~$1.19.$1.125M of the initial consideration is subject to a holdback to be released on the 18 month anniversary of the closing of the transaction.In addition, the Company will pay the sellers up to an additional $10M (Milestone Amount) in cash, HempFusion Shares or a combination of both, subject to Apothecanna achieving certain revenue targets within twelve months of closing. All HempFusion Shares issued in connection with the Purchase Agreement will be subject to contractual resale restrictions to be released over a period of 12 months from closing.

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HempFusion to acquire CBD brand Apothecanna