Business Wire

HempFusion Wellness Inc. Completes USD$17,000,000 Initial Public Offering and Commences Trading on the Toronto Stock Exchange

Share

HempFusion Wellness Inc. (“HempFusion” or the “Company”) is pleased to announce that it has completed its initial public offering of 7,000,000 common shares of the Company (the “Offered Shares”) at a price of USD$1.00 per Offered Share (the “Offering Price”) for gross proceeds of USD$7,000,000 (the “Share Offering”) and 10,000,000 units of the Company (the “Units”) at the Offering Price per Unit for gross proceeds of USD$10,000,000 (the “Unit Offering” and collectively with Share Offering, the “Offering”).

HempFusion’s common shares (the “Common Shares”), the common share purchase warrants comprising the Units (the “Warrants”) and the common share purchase warrants issued in connection with the Company’s offering of units completed in August 2019 (the “2019 Warrants”) will commence trading on the Toronto Stock Exchange (the “TSX”) today under the following symbols:

  • CBD.U – the Common Shares (including the Offered Shares, the Unit Shares (as described below) and the Warrant Shares (as described below));
  • CBD.WT.V – the Warrants; and
  • CBD.WT.U – the 2019 Warrants.

“We are incredibly excited to have completed our initial public offering and begin trading on the Toronto Stock Exchange,” commented Jason Mitchell, N.D., HempFusion’s CEO. “The additional USD$17 million in capital adds to our healthy treasury, providing us with a solid foundation to build from and execute on our strategic plans for 2021 and beyond. Our goals include increased investment into research and development, expanding our sales and distribution networks, and firmly establishing HempFusion as a leader in the dynamic global CBD industry.”

The Offering

The Offering was completed through a syndicate of agents led by Canaccord Genuity Corp., as sole bookrunner, and including Haywood Securities Inc. and PI Financial Corp. (collectively, the “Agents“). Each Unit offered under the Unit Offering is comprised of one Common Share (each a “Unit Share”) and one-half of ‎one Warrant. ‎Each Warrant entitles the holder to purchase one Common Share (each, a ‎‎“Warrant Share”) at a price of USD$1.20 per Warrant Share at ‎any time until January 6, 2026. The Unit ‎Shares are subject to a contractual hold period and may not be ‎sold, transferred, pledged, hypothecated or otherwise assigned or traded until May 6, 2021. The ‎Warrant Shares will be subject to a ‎contractual hold period and may not be sold, transferred, pledged, hypothecated or otherwise assigned or traded until July 6, 2022. ‎

The exercise price of the 2019 Warrants, each of which is exercisable to acquire one Common Share (each a “2019 Warrant Share”, and together with the Offered Shares, the Units, the Unit Shares, the Warrants, the Warrant Shares and the 2019 Warrants, the “Securities”), was subject to adjustment based on the Offering Price and has now been confirmed at USD$0.85 per 2019 Warrant Share. The 2019 ‎Warrant Shares will be subject to a ‎contractual hold period and may not be sold, transferred, pledged, hypothecated or otherwise assigned or traded until July 6, 2022. ‎

Under the terms of an agency agreement entered into between the Company and the Agents, the Company has granted the Agents an over-allotment option (the “Over-Allotment Option“), exercisable in whole or in part, at the sole discretion of the Agents, at any time and from time to time, for a period of 30 days following the closing of the Offering, to purchase up to an additional 1,050,000 Offered Shares at the Offering Price per Offered Share and 1,500,000 Units at the Offering Price per Unit, for additional gross proceeds to the Company of up to USD$2,550,000.

No securities regulatory authority has either approved or disapproved of the contents of this news release. This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities of HempFusion in any jurisdiction in which such offer, solicitation or sale would be unlawful.

The Securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“), or any state securities laws. Accordingly, the Securities may not be offered or sold within the United States, or to or for the account or benefit of any U.S. persons or any persons in the United States, absent exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws. “United States” and “U.S. person” are as defined in Regulation S under the U.S. Securities Act.

On Behalf of the Board of Directors,

HempFusion Wellness Inc.
Jason Mitchell, N.D.
Chief Executive Officer and Director

ABOUT HEMPFUSION

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 46 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™ and are available in-store or by visiting HempFusion online at www.hempfusion.com or www.probulin.com.

FORWARD-LOOKING STATEMENTS

This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation (collectively, “forward-looking statements“) that relate to HempFusion’s current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as “will likely result”, “are expected to”, “expects”, “will continue”, “is anticipated”, “anticipates”, “believes”, “estimated”, “intends”, “plans”, “forecast”, “projection”, “strategy”, “objective” and “outlook”) are not historical facts and may be forward-looking statements and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. These statements speak only as of the date of this news release. In particular and without limitation, this news release contains forward-looking statements relating to the exercise of the Over-Allotment Option, the use of the net proceeds of the Offering and the Company’s plans, focus and objectives.

Forward-looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond HempFusion’s control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to, the impact and progression of the COVID-19 pandemic and other factors set forth under “Forward-Looking Statements” and “Risk Factors” in the final long form prospectus of the Company dated December 17, 2020 filed in connection with the Offering and available under the Company’s profile on SEDAR at www.sedar.com. HempFusion undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for HempFusion to predict all of them, or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. Any forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.

Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.

Contact information

Investor Relations
Jason Mitchell, N.D.
Email: ir@hempfusion.com
Phone: 416-803-5638
Web: https://www.hempfusion.com/corporate-information

About Business Wire

For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

NeXR Technologies SE and H&Mbeyond. Start Cooperation on Virtual Fitting21.1.2021 11:37:00 EETPress release

NeXR Technologies SE (XETRA: NXR) takes further steps in the development of innovation for stationary retail and enters into a groundbreaking cooperation with H&Mbeyond. The aim of the cooperation is to develop a virtual fitting solution, a "digital fitting room", which enables customers to try on individually exact fit looks digitally, quickly and easily. A prototype is planned for summer 2021. In selected stores, customers will then be able to have themselves scanned and receive their personal avatar, an exact digital image. With the aid of an app, customers will be able to try on matching styles on their own avatar, thus assuring their purchase decision. The technology is based on the 3D photogrammetry scanner developed by NeXR, which was further developed in cooperation with H&Mbeyond.H&Mbeyond. not only wants to offer customers an exciting digital shopping experience but also to analyze the influence that scanning solutions like this can have on returns behavior. Oliver Lange, H&M

Mano Būstas Partners with Airship to Power Proactive, Anticipatory Communications with Customers21.1.2021 11:00:00 EETPress release

Customer engagement company Airship and City Service, one of the largest corporate groups engaged in facility and property management and integrated utility services in Europe, today unveiled a new partnership that will streamline communications between its Lithuanian property management company, Mano Būstas and its hundreds of customers across the region. Beginning in January, Airship’s Customer Engagement Platform will enable Mano Būstas to automate communication with customers across in-app messaging, push notifications, email, and SMS, offering a better customer service experience by proactively answering common questions throughout all stages of the customer lifecycle. City Service is offering the new services to Mano Būstas clients at a first stage, with plans to roll out the cooperation to other businesses and countries later in the year. This collaboration is part of City Service’s strategic direction towards digitalising and automating their full business processes in order to

Kinetic Vision Improves PCB Workflow by 500% with Altium 36521.1.2021 10:30:00 EETPress release

A long-term change in the way that the various stakeholders in the electronics industry work together is taking place. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210120005796/en/ In Altium Designer, Kinetic Vision found a PCB design solution for all of their projects that best supports the production of smart products that incorporate electronics, circuit boards and communications chipsets. (Photo: Altium LLC) Whether working from home, office or traveling for business, the need to work from anywhere in the world without being tethered to your desktop is here to stay. Altium is paving the way for engineers and designers to work from anywhere, and connect with anyone by making the Altium Designer user experience more collaborative and more readily available than ever before. Altium customer Kinetic Vision, a Cincinnati-based design, engineering, and development firm, is an innovator’s one-stop-shop for transforming even t

Temenos Hits Milestone of 60 Challenger Bank Clients, Confirming Status as Technology Provider of Choice21.1.2021 10:30:00 EETPress release

Temenos (SIX: TEMN), the banking software company, announced that it has exceeded 60 challenger bank clients confirming its status as the technology provider of choice for this growing segment. With the rich functionality of Temenos’ integrated front-to-back SaaS offering, challenger banks can launch rapidly, scale fast, provide differentiated services to customers and grow profitably. A raft of digital banks – such as Alba, Alpian, Banco del Sol, Flowe, FlowBank, Lunar, Next Commercial Bank, Pepper, Varo Bank and WeLab Bank – have selected Temenos’ cloud-native, cloud-agnostic technology, joining the 3000+ Temenos customers around the globe including 41 out of the top 50 banks that run Temenos. News of Temenos exceeding the 60-bank milestone comes as the company launches new functionality designed specifically to cater to this fast-growing segment. Temenos Infinity helps challengers deliver frictionless onboarding experiences for SMEs, while offering robust protection from fraud with

Shin-Etsu Chemical Develops Silicone Thermal Interface Materials for Applications in Electric Vehicles and Hybrid Electric Vehicles21.1.2021 09:00:00 EETPress release

Shin-Etsu Chemical Co., Ltd. (Head Office: Tokyo, President: Yasuhiko Saitoh) has developed innovative silicone thermal interface materials for applications in electric vehicles (EV) and hybrid electric vehicles (HEV). With the electrification of automobiles, the demand for heat dissipation measures for lithium-ion batteries and for various other electronic control systems are increasingly becoming more sophisticated and diversified. With the accelerating worldwide growth in vehicle electrification, the amount of thermal interface materials in automotive parts has increased and their applications are expanding. In response to this changing market environment, Shin-Etsu Chemical has developed two kinds of new products with unique characteristics: 1) The “TC-PEN Series,” which features a distinctly reduced density, soft thermal interface pad that can meet the demand for a high level for EV and HEV applications, 2) The “TC-SET Series,” which features a high thermal interface soft pad with

Verimatrix Releases Advanced Code Protection Service for Android Application Bundles20.1.2021 19:45:00 EETPress release

Regulatory News: Verimatrix, (Paris:VMX), the leader in powering the modern connected world with people-centered security, today announced general availability of version 2.2 of the Verimatrix Application Protection service for Android. The company’s latest Code Protection service for Android applications now supports the forthcoming Android ecosystem change that will mandate the use of Android Application Bundles (AABs) in the second half of 2021. A significant shift for developers, the upcoming AAB mandate creates a need for simple, reliable software security that prevents app attacks. In addition to traditional APKs, the Verimatrix Application Protection service now also supports AABs defined by Google Play’s publishing guidelines. Other new features and in enhancements in Verimatrix Application Protection service for Android include: AAB support through the Verimatrix App Shield service or on-premise tool Upgraded whole app integrity verification based on certificate binding for pu

LG CHEM TO SEEK INNOVATIVE IDEAS FOR SUSTAINABLE TECHNOLOGIES WORLDWIDE THROUGH 3rd GLOBAL INNOVATION CONTEST20.1.2021 17:00:00 EETPress release

LG Chem (KRX: 051910) announced on 20th January that it will host the 3rd Global Innovation Contest (GIC) for leading universities and research institutions worldwide. Being the first of its kind in the Korean chemical industry, Global Innovation Contest invites organizations around the world to discover innovative ideas for sustainable technologies. The contest is open for entry from 25th January to 31st March in 4 categories: Energy, Sustainability, Advanced Materials, and Digital Transformation (DX). Under the new vision of the company “We connect science to life for a better future,” Sustainability and DX are 2 categories newly added this year. All scholars and researchers interested in developing the next generation’s innovative technology and industry-academia collaboration research are welcome to participate and submit their research proposals through the official GIC website. (www.rnd.lgchem.com/global/gic) LG Chem will form a judging panel of internal experts to evaluate the r

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom