- Denver-based HempFusion Wellness, Inc. has developed 46 products and 8 OTC FDA listed topicals that draw on the versatile compounds in hemp for promoting effective sleep, stress reduction, pain relief, skin care and “smooth energy” pick-me-ups
- Despite a downturn in the hemp and CBD product industries brought on by the worldwide COVID-19 pandemic, HempFusion is anticipating a market rebound amid positive developments in legal, political and medical research arenas
- Market analysts at Brightfield Group anticipate improvement in the CBD sector to $12.4 billion by 2023 and $16.8 billion by 2025
- HempFusion has filed a preliminary prospectus for a planned initial public offering of its stock in Canada and a listing on the Toronto Stock Exchange under the symbol CBD.U
Legal cannabis consumers have already become well aware of the hammering the industry has taken during the COVID-19 era. Market outlooks have been revised sharply downward as many retailers selling CBD products have closed temporarily or transitioned to curbside pickup and delivery, and farmers have reduced their hemp acreage. But nearly a year into the global pandemic, there have been bright spots as well.
While the health crisis has impacted product movement, the legal front lines continue to advance. The European Union’s highest court declared this month that cannabidiol (“CBD”) is not a narcotic drug, despite some EU countries’ efforts to control it on…
NOTE TO INVESTORS: The latest news and updates relating to HempFusion are available in the company’s newsroom at https://cnw.fm/HempFusion
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