- HempFusion is one of 12 companies working on a study to address FDA comments about CBD and human interaction, studying the cannabinoid’s effects on the human liver
- The company could become publicly traded on the Toronto Stock Exchange as early as the week starting December 14, 2020
- By 2025, the global CBD market is estimated to reach $23.6 billion
- HempFusion plans to extend product offering to include beverages, edibles, and pet products, which has become a growing segment in the CBD industry
A leader in the health and wellness cannabidiol industry, HempFusion Wellness is raising the bar for CBD products everywhere through an unwavering commitment to quality and safety of products, effectively standing out from other companies in the industry that sell sub-standard and ineffectual products. To prove its commitment to the quality and purity of its offering, HempFusion became U.S. Hemp Authority Certified and is also on board for the U.S. Hemp Round Table, a coalition of leading companies committed to bringing safe hemp and CBD Products to the market.
Further demonstrating its dedication, the company was one of 12 CBD organizations conducting a study designed to address Food and Drug Administration concerns regarding CBD products and human safety. Throughout the study, HempFusion and the other selected companies conducted human trials to determine if the daily used of CBD isolate or CBD derived from hemp has any impact on the human liver. Results of the groundbreaking study, organized by ValidCare, will be shared with the FDA and published in a peer-reviewed journal in early 2021.
Driven by this commitment to quality and compliance, HempFusion provides innovative and diversified proprietary formulations utilizing the power of whole-food hemp nutrition. The company’s portfolio includes 46 products currently on shelves, distributed to approximately 4,000 retailers nationwide and select international locations, with a pipeline of 26,000 stores. The products are distributed through the company’s family of brands: Probulin Probiotics, Biome Research and HF Labs. The company’s goal is to create a portfolio that sets itself apart from other industry companies by adhering to regulatory compliance and human-safety backing.
To cement its position on the market and garner investor interest, HempFusion is now taking steps to go public, and on October 22, the company announced that it had already filed a preliminary prospectus in preparation for a public debut. The preliminary prospectus was filed with the applicable securities regulatory authorities for a proposed initial public offering (“IPO”). HempFusion, although Denver-based, plans to list with the Toronto Stock Exchange (“TSX”) using the ticker symbol ‘CBD.U.’ Reports indicate that this could take place as early as the week starting December 14, 2020 (https://cnw.fm/LPPRU).
“We are incredibly excited to announce our initial public offering and HempFusion’s intention to list its securities on the Toronto Stock Exchange. To be the first US-based CBD company to apply to list on the TSX is a tremendous honor,” company CEO, President and Co-Founder Dr. Jason Mitchell, N.D., said while discussing the preliminary prospectus and IPO. “Completion of this proposed initial public offering will accelerate our ability to scale HempFusion’s operations both domestically and internationally, drive accelerated growth within all our distribution channels, and significantly expand our marketing initiatives” (https://cnw.fm/8lvJA).
The company plans to extend its branded product offerings, both in the U.S. and internationally, offering beverages, edibles, and pet products. This creates new opportunities for growth, as the global CBD market, as well as the pet CBD sector are growing exponentially. The global market for CBD was valued at $4.6 billion in 2018 and this year, it is estimated to reach $9.3 billion. The market is projected to grow to approximately $23.6 billion by 2025 (https://cnw.fm/3bcNC). In turn, the pet CBD products market is one of the fastest-growing segments in the industry. The market value for 2020 is estimated at $37.4 million and is expected to grow to $399.2 million by 2027 (https://cnw.fm/56pUA).
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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