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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 announce a non-brokered private placement of 8,000,000 units of the Company (the “Units”) at a price of USD$0.25 per Unit for gross proceeds of USD$2,000,000 (the “Private Placement”). Each Unit is comprised of one common share in the capital of the Company (a “Common Share”) and one-full Common Share purchase warrant (a “Warrant”). Each whole Warrant will entitle the holder to acquire one additional Common Share at a price of USD$0.50 per Common Share for a period of four years from the closing date of the Private Placement, expected on or about September 12, 2021. Closing of the Private Placement is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including approval of the Toronto Stock Exchange.
The Company plans to allocate the gross proceeds of the Private Placement to general working capital and marketing initiatives.
All securities issued under the Private Placement will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.
This news release does not constitute an offer to sell or a solicitation of an...
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