- Denver-based HempFusion Wellness, Inc. has developed 46 products and 8 OTC FDA listed topicals that draw on the versatile compounds in hemp for promoting effective sleep, stress reduction, pain relief, skin care and “smooth energy” pick-me-ups
- Despite a downturn in the hemp and CBD product industries brought on by the worldwide COVID-19 pandemic, HempFusion is anticipating a market rebound amid positive developments in legal, political and medical research arenas
- Market analysts at Brightfield Group anticipate improvement in the CBD sector to $12.4 billion by 2023 and $16.8 billion by 2025
- 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 under the symbol CBD.U
Legal cannabis consumers have already become well aware of the hammering the industry has taken during the COVID-19 era. Market outlooks have been revised sharply downward as many retailers selling CBD products have closed temporarily or transitioned to curbside pickup and delivery, and farmers have reduced their hemp acreage. But nearly a year into the global pandemic, there have been bright spots as well.
While the health crisis has impacted product movement, the legal front lines continue to advance. The European Union’s highest court declared this month that cannabidiol (“CBD”) is not a narcotic drug, despite some EU countries’ efforts to control it on such health-related grounds (https://cnw.fm/HfzPz). In the United States, the presidential elections delivered an apparent victor who favors decriminalization of marijuana, if not outright legalization, while additional states joined the drive toward relaxed legislation within their boundaries (https://cnw.fm/tnqpl). And pandemic-related stress is credited with driving sales increases in some areas (https://cnw.fm/pM0SP).
CBD brand HempFusion Wellness is optimistic about renewed energy in the marketplace, mirroring its products’ aim to help restore energy and wellness balances to its consumers.
“Researchers have newly discovered a system inside of our body that has been affectionately named the endocannabinoid system,” CEO Jason Mitchell explains in a video outlining the company’s operations (https://cnw.fm/eWKX7). “What’s really special about it is that in this identification they have found an intricate network of receptors located throughout the entire body that interconnect all of the biological systems together. They’ve deemed it a regulatory system because it helps to maintain and support homeostasis or balance inside the body.”
Mitchell notes that hemp is plant source of cannabinoids that may interact with the body’s system, citing the company’s varied products as able to promote effective sleep, stress reduction, pain relief, skin care and “smooth energy” via liquid tinctures and taste-free liquid capsules, thanks in part to their full-spectrum delivery and combination with other natural elements, such as adaptogen herbs.
“The name HempFusion means hemp fused together with other products,” Mitchell states.
Researchers at market analysis firm Brightfield Group forecast a CBD marketplace worth $10 billion this year and $23 billion by 2023 before the pandemic swept the planet. They have since revised their outlook downward to $12.4 billion by 2023 and $16.8 billion by 2025 (https://cnw.fm/IbIwC).
However, the rapid-response effort to deliver a potential COVID-19 vaccine has led some media outlets to predict the end of the pandemic is in sight (https://cnw.fm/0tJIN), which could open the gates to a restored sense of excitement about world economic recovery and CBD products’ return to previous expectations if the relatively new technology of mRNA-based vaccines proves sustainable.
HempFusion has developed 46 products and announced last month that it has produced a preliminary prospectus with securities regulatory authorities in Canada for a proposed initial public offering that could land its common shares in all of the provinces but Quebec as it lists on the Toronto Stock Exchange. That makes HempFusion the first U.S.-based CBD company to apply to list on the TSX (https://cnw.fm/XSrao).
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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