Breaking News: HempFusion Wellness Inc. Completes USD,000,000 Initial Public Offering and Commences Trading on the Toronto Stock Exchange | Financial Buzz

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

HempFusion Wellness Inc. (TSX: CBD.U) (“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.

Sponsored Content Release. Click for Full Disclosure

Opt-into our eNewsletter NOW! For the Latest Trending Financial News Topics in Cannabis, Tech, Biotechs, Precious Metals, Energy, Renewable Energy and much more!

  • Sponsored Content Release

    FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR branding, marketing and advertising for third parties for disseminating news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.

    Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the ‘Site’) is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting high quality and sophisticated content on FinancialBuzz.com along with other financial news PR media services. FinancialBuzz.com does not offer any personal opinions, recommendations or bias commentary as we purely incorporate public market information along with financial and corporate news. FinancialBuzz.com only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For hempfusion wellness inc., investor relations, video production, filming editing, news reporting, financial and corporate news dissemination, FinancialBuzz.com has been compensated five thousand dollars by the company. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. FinancialBuzz.com will always disclose any compensation in securities or cash payments for financial news PR advertising. FinancialBuzz.com does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security. FinancialBuzz.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use, please visit: http://www.financialbuzz.com.