BOULDER, CO, June 4, 2019 /CNW/ - HempFusion ("the Company"), a leading US hemp-based CBD company, with distribution to over 3,400 retailers and an expanding product catalog, is pleased to announce the engagement of RADD Capital ("RADD") for advisory services related to its 2019 private US$30,000,000+ funding initiative. HempFusion launched the current initiative as part of its plan to diversify its product offerings, launch a revamped e-commerce platform, expand retail distribution, and significantly increase same store sales. Earlier this year, RADD led a $6,000,000 investment into the Company. HempFusion will now utilize strategic financing advice from RADD, the same financial team that led Organigram, Emblem Corp, The Green Organic Dutchman, and PLUS Products through several private financings and initial public offerings.
"HempFusion's private funding initiatives, structured by RADD, have the ability to provide significant capital to rapidly capture market share and compete with the largest CBD companies in the industry," stated Ian deQueiroz, CEO of HempFusion Inc. "We believe our team has built the entire platform for success including distribution channels, sales across 47 US states including Amazon.com, and a significant product portfolio. This capital allows for increased marketing spends, national education platforms, an increased salesforce, expanded distribution networks, hiring of key personnel and the launch of an entirely revamped e-commerce platform," continued deQueiroz.
Industry analysts Brightfield Group reported that the global CBD industry could reach $22 billion by 2022. HempFusion's private financing initiative is part of a larger planned go-public strategy that will position HempFusion to become a leader in the global CBD industry through its expected rapid expansion.
"This capital that we have raised will be a key building block to our Company's planned growth and help accelerate our expansion throughout the United States and global markets including Europe, Asia, Australia, Canada, the Middle East and South America," stated Jason Mitchell, co-founder and President of HempFusion Inc. "As global consumer demand continues to accelerate for hemp-based CBD dietary supplements and health products, we remain committed to scaling our operations by completing a number of staged private financings leading to an IPO expected in early 2020."
HempFusion is targeting over 26,000 new stores, including conventional grocers, drug and convenience, vitamin and fitness shops, and doctor and practitioner networks.
To learn more about HempFusion, please contact the Company directly with the information below.
HempFusion is a Life Sciences company engaged in advancements of the therapeutic benefits of hemp-based CBD products, through research, collaboration, sourcing, innovation, extraction, developing and marketing of products targeting Endocannabinoid System support. The Company's primary focus is formulating and marketing consumer-specific product lines across multiple channels and distribution platforms.
HempFusion is focused on the development and marketing of safe, innovative nutrition products. Those products are based on a proprietary Whole Food Hemp Complex ™, a unique form of food-grade phytocannabinoid rich hemp extracts from the industrial form of Cannabis Sativa L. (Hemp) as well as a blend of other terpenes and botanicals derived from clove and black pepper oils. HempFusion products are available at retailers nationwide, or by visiting www.hempfusion.com. The products target the support of the Endocannabinoid System and combine high quality sources of phytocannabinoids manufactured under the strictest cGMP standards to achieve both efficacy and safety.
ABOUT RADD CAPITAL
Founded by Rob Anderson, Dave Doherty, and Danny Brody, RADD Capital leverages its extensive industry expertise to capitalize companies within hyper-growth sectors that have established brands, best-in-class products, and driven management teams and transforms them into world-class companies. RADD partnerships provides unparalleled access to capital raising strategies, extensive cannabis and hemp sector expertise and M&A experience that together establish significant competitive advantages. RADD Capital has raised over $650,000,000 for cannabis companies since 2016.
This news release contains forward-looking information, which involves known and unknown risks, uncertainties, and other factors that may cause actual events to differ materially from current expectation. Important factors — including the availability of funds, the results of financing efforts and the parties' due diligence reviews, and general market conditions — that could cause actual results to differ materially from the Company's expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Hemp Fusion
For further information: Investor Relations: Name: Spencer MacLean, Email: firstname.lastname@example.org, Phone: 416-803-5638, Web: www.hempfusion.com/investors