Vertical Wellness Announces Merger with CanaFarma Hemp Products Corp.

CANNANNEW REPORT

LOS ANGELES–(BUSINESS WIRE)–Vertical Wellness [VWEL], a leader in the branded health and wellness space, has announced a merger with CanaFarma Hemp Products Corp. [CSE: CNFA], a full-service company operating in the hemp industry offering a full range of hemp-related products and services. “We are honored and delighted for our partnership with Vertical Wellness and the opportunity created with the combination of CanaFarma Hemp” Tweet this The Vertical Wellness management team, including CEO J. Smoke Wallin, will run the combined business. The combined company will go under CanaFarma Corp. as the corporate entity but will keep the Vertical Wellness name. This merger will make Vertical Wellness the first house of CBD brands to go public. The combined company will be worth over $50 million but could be significantly higher depending on stock price post-announcement. CanaFarma went public in March 2020 just as the COVID-19 pandemic hit. The company had a successful IPO on the Canadian Securities Exchange, trading up to about $1.50 a share and ending up being over $200 million market cap company. “This is a platform for Vertical Wellness to fulfill its vision. To launch a portfolio of brands along a vast array of categories and segments requires resources, and the CanaFarma deal enables us to attract those resources at a scale we need,” says Vertical Wellness CEO J. Smoke Wallin. “Working with Kathy Ireland and the exceptional worldwide team is a magnificent opportunity for any company in the space of CBD. Trust and credibility are essential. Many celebrities are placing their names on CBD products. That is absolutely not an appropriate description of how Kathy conducts business. Kathy is a power contributor to Vertical Wellness and just 5 days ago appeared in Yahoo Finance, upon being named the 15th most powerful brand in the world by License Global Magazine. This is…

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Source : Vertical Wellness Announces Merger with CanaFarma Hemp Products Corp.

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