- HempFusion Wellness, Inc. is a health and wellness company developing the power of whole-food hemp nutrition through more than 40 products currently on store shelves
- The company is focused on industry safety and quality standards through regulatory compliance, and is currently participating in a real world consumer study to establish the safety of daily cannabidiol (“CBD”) use in regard to liver function
- HempFusion has filed a preliminary prospectus for a planned initial public offering of its stock in Canada and a listing on the Toronto Stock Exchange
- Despite a reduction in hemp farm acreage this year following last year’s glut, market watchers anticipate the industrial hemp market is expected to reach $22 billion by 2022
The U.S. election this month demonstrated the lasting potential of the market for cannabis-derived products when five states joined the march toward legalizing marijuana for recreational or medicinal uses (https://cnw.fm/wlQLG). Despite a variety of challenges that plagued the nascent hemp industry in 2019 as well as the contentious societal debates over the COVID-19 pandemic’s impact on everyday life and the choices for president, cannabis’ hemp and marijuana offshoots seem to have transcended the upheaval that has defined 2020.
Denver-based HempFusion Wellness has continued to build its own movement toward market success in the cannabis wellness industry, developing 46 products that are currently on shelves while establishing the second-largest cash position in its sector without debt. And in October the company announced a preliminary prospectus with the securities regulatory authorities in Canada, excepting the Quebec province, for a proposed initial public offering of common shares and listing on the Toronto Stock Exchange that makes HempFusion the first US-based cannabidiol (“CBD”) company to apply to list on the TSX (https://cnw.fm/ZXPg2).
HempFusion Wellness has invested heavily in regulatory compliance in order to meet and exceed the safety and quality standards established not only by government officials, but selective consumers and retailers as well. As a member of the U.S. Hemp Roundtable, the company works with other coalition members in advancing the safety of hemp and CBD products.
The company’s focus on regulatory compliance has in turn opened doors to major food and drug mass market retailers. HempFusion has its eye on five channels — natural health retail outlets, Internet-based commerce, big box chains and other mass markets, doctor / care provider referrals and convenience stores.
HempFusion’s proprietary Whole Food Panoramic Full-Spectrum Hemp Complex products present solutions for basic, specific needs such as sleep, energy and stress. Its offerings include tinctures and capsules, as well as FDA listed over-the-counter (“OTC”) products designed to combat pain, eczema, acne and skin aging, and wounds.
HempFusion is one of 12 companies working to capture real world evidence from consumers on how they use CBD products and how their bodies react to those products, with a primary focus on whether daily use is safe for the liver in response to questions raised by the U.S. Food and Drug Administration (https://cnw.fm/nXxe3).
“We believe this real world evidence is important to the FDA and could be used to guide policy moving forward,” Patrick McCarthy, the CEO of life sciences researcher ValidCare, which is conducting the scientific study, stated.
Licensed hemp farm acreage decreased on a year-over-year basis in 2020 for the first time since the 2014 Farm Bill established a national hemp pilot program, according to industry watchers (https://cnw.fm/gMQrr). The downward movement was driven by regulatory uncertainty and a vast oversupply of hemp last year in the wake of the previous winter’s updating of the 2014 bill to provide broader legalization to hemp as an agricultural commodity. It is important to note, HempFusion is not a cultivator and is instead focused on product R&D, increased distribution and consumer safety. Nevertheless, Brightfield Group has projected the hemp CBD market to reach $22 billion by 2022 (https://cnw.fm/e6xtO).
For more information, visit the company’s website at www.HempFusion.com/Corporate-Information.
NOTE TO INVESTORS: The latest news and updates relating to HempFusion are available in the company’s newsroom at https://cnw.fm/HempFusion
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