HempFusion Provides Corporate Update, Revenue Guidance

CANNANNEW REPORT

DENVER–(BUSINESS WIRE)–$CBD.U #CBD–HempFusion Wellness Inc. (TSX:CBD.U) (OTCQX: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 a corporate update and proforma revenue guidance including its two recently completed acquisitions, APCNA Holdings LLC (“Apothecanna”) and Sagely Enterprises Inc. (“Sagely Naturals”), (together the “Acquisitions”) for fiscal 2021 and 2022. Based on a fiscal 2020 pro forma revenue basis, HempFusion (combined with the fiscal 2020 revenues of Apothecanna and Sagely Naturals) would have generated approximately USD$11.8 million in revenue. With the completion of the Acquisitions and inclusion of the pre-closing fiscal 2021 revenues of Apothecanna and Sagely Naturals, HempFusion expects to generate revenues of between USD$12.5 million and $13.5 million in fiscal 2021 and USD$20 million to $25 million in fiscal 2022 due in large part to the Company’s expansion plans over the next 18 months and beyond. The Company maintains a clean balance sheet with approximately USD$11.4 million cash as of the end of the Company’s second fiscal quarter. HempFusion’s combined footprint includes the following: Distribution to over 15,000 retail locations including Publix, Walgreens, CVS, Rite Aid, Albertsons, Sprouts, Nordstrom, Whole Foods, and Kroger, with several more significant retailers expected to launch in the coming weeks. Due to the broad consumer reach of the family of companies owned by HempFusion, the Company is able to appeal to roughly 80% of the current population of CBD purchasers including women, Baby Boomers and, the “Gellennial” crossover (Gen X and Millennial). Six sales channels including its newly launched private label division Revenue growth is anticipated to be driven heavily by our robust investment into our DTC (Direct To Consumer) e-commerce platform that has already shown early stage success. Global footprint across multiple countries including, but not limited to, USA, Canada, Ireland,…

Excerpt only …
READ MORE BELOW
Source : HempFusion Provides Corporate Update, Revenue Guidance

reposted by Cannabis News World

This site uses Akismet to reduce spam. Learn how your comment data is processed.