HempFusion Wellness, a leader in the health and wellness cannabidiol (“CBD”) industry, on Friday announced that it has obtained a receipt for its final prospectus filed with the securities regulatory authorities in each of the provinces of Canada, except Québec. According to the update, the final prospectus was filed in connection with HempFusion’s previously-announced initial public offering of up to 7,000,000 common shares and up to 10,000,000 units of the company at a price of US$1.00 per offered share and per unit for gross proceeds of up to US$17,000,000. The offering is being made through a syndicate of agents led by sole bookrunner, Canaccord Genuity Corp., and including Haywood Securities Inc. and PI Financial Corp. (collectively, the “agents”). Under the terms of an agency agreement, HempFusion has granted the agents an 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 15% of the offered shares and the units issued pursuant to the offering at the offering price for additional gross proceeds of up to USD$2,550,000 to the company. Subject to customary requirements, the TSX has conditionally approved the listing of the common shares (including the offered shares, the unit shares and the warrant shares), the warrants and the issued and outstanding common share purchase warrants of the company (the “2019 warrants”) issued in connection with the company’s offering of units completed in August 2019, each 2019 warrant exercisable to acquire one common share of the company (a “2019 warrant share”) until Feb. 28, 2023, at an exercise price of US$0.85 per common share. Subject to customary conditions, the offering is expected to close on or about Jan. 6, 2021, at which point the following securities of the company will commence trading on the TSX: the common shares under the symbol “CBD.U,” the warrants under the symbol “CBD.WT.V” and the 2019 warrants under the symbol “CBD.WT.U.”
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About HempFusion Wellness Inc.
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 U.S. 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 R&D, HempFusion has an additional 30 products under development. HempFusion is a board member of the U.S. 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(TM) and are available in-store or by visiting HempFusion online at www.Hempfusion.com or www.Probulin.com.
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