Business
HempFusion Provides Operational Update
HempFusion Provides Operational Update.
About this update from Hempfusion Wellness Inc.
[{"type":"text","content":"\nHempFusion Wellness Inc. (TSX:CBD.U) (US:CBDHF) (FWB:8OO) (“HempFusion” or the “Company”), a leading health and wellness company offering premium probiotic supplements and products containing CBD, is pleased to provide an operational update.\n\nHighlights\n\n\nBrightfield Group’s most recent survey ranks HempFusion #2 in the US for CBD Brand Awareness\n\n\nProbulin Probiotics finished 2020 as the fastest-growing Probiotic brand out of the Top 10 in the US, according to SPINS\n\n\nHempFusion is the #2 CBD holding in AdvisorShares Pure US Cannabis ETF, the only US-listed exchange traded fund dedicated solely to US cannabis exposure\n\n\nHempFusion is one of the select few companies to offer OTC Drug Listed Topical products \n\n\nThe Company’s OTC Tropical products have ranked #1 in both sales dollars and units sold at a major Food & Drug Mass (“FDM”) retailer in the US, according to NielsenIQ\n\n\nComplete digital relaunch, increasing online traffic by 10x \n\n\n2020 in Review\n\nCOVID and continued lack of clarity from the FDA related to official regulatory guidance for CBD used in dietary supplements, foods, and beverages has made 2020 a challenging year. However, these challenges have led to strategic changes, establishing the foundation for HempFusion to succeed in 2021 and beyond. There are no quick and easy ways to navigate this dynamic and emerging industry. The Company remains focused and highly optimistic that the five-channel strategy and international expansion will drive significant success throughout 2021 and beyond.\n\nOver the past year, we have experienced multiple challenges brought on by the global pandemic. These challenges have impacted the Company and its supply chain partners, including retailers. They have also brought about a renewal in the way HempFusion thinks and operate as a Company. These changes have already led to certain successes that are occurring in Q1, 2021.\n\nPositive Momentum for 2021\n\n\nCompleted a US$17,000,000 initial public offering (“IPO”) and commenced trading on the Toronto Stock Exchange (the “TSX”), becoming the first U.S.-based CBD & wellness products company to list directly on the TSX (senior board). Starting the year as the #2 most recognized CBD brand in America\n\n\nHempFusion remains one of the...