CBDHF - InvestorNewsBreaks - HempFusion Wellness Inc. (TSX: CBD.U) (OTCQX: CBDHF) (FWB: 8OO) Announces Plans to Acquire Leading CBD Brand
HempFusion Wellness (TSX: CBD.U) (OTCQX: CBDHF) (FWB: 8OO), a leading health and wellness company offering premium probiotic supplements and products containing CBD, has signed a definitive agreement with Sagely Enterprises Inc. The agreement outlines HempFusion’s intent to acquire 100% interest in the company, known as Sagely Naturals, a leader in premium CBD products with mass distribution in more than 14,000 retailers nationwide. The largest female-founded CBD wellness brand, Sagely Naturals started in 2015 with Kerrigan Behrens and Kaley Nichol as founders. With a target audience of women, the company is sold in well-known retailers such as CVS, Rite Aid, Albertsons, Sprouts, and Nordstrom as well as many independent regional grocers and natural food stores; the company also has an online portal. The announcement noted that Sagely Naturals leadership felt that HempFusion possesses the resources required to help the company significantly scale its business, increase its market share and expand to international jurisdiction. “Upon closing, the acquisition of Sagely Naturals immediately adds significant value to shareholders,” said HempFusion co-founder and CEO Jason Mitchell, ND, in the press release. “By more than tripling our 2020 revenue, when combined with the closing of Apothecanna, expanding to over 15,000 stores, expanding our distribution strategy to six channels, combining some of the top executive talent in the industry, and bringing together over 75 incredible and best-selling SKUs, HempFusion is in its strongest position to date. We expect the combined proforma entity to achieve substantial growth over our historical financials and cement our leadership position in the CBD industry while setting the stage for tremendous growth in 2021 and 2022.”
To view the full press release, visit https://ibn.fm/9cUxO
About HempFusion Wellness Inc.
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 retailers 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 (“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(TM) and are available in stores or online. For more information about the company, visit www.HempFusion.com.
NOTE TO INVESTORS: The latest news and updates relating to HempFusion are available in the company’s newsroom at http://ibn.fm/HempFusion
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