HempFusion Gears Up for IPO on the TSX
December 7th, 2020
App, Exclusive, News, Top Story
HempFusion Wellness Inc., a leading health and wellness CBD company, recently closed the order book for its proposed initial public offering (IPO), marking another step closer to becoming a publicly-traded company on the Toronto Stock Exchange (TSX) over the coming months.
Completion of this proposed initial public offering has the potential to accelerate the company’s ability to scale operations both domestically and internationally, drive accelerated revenue within all distribution channels, and significantly expand marketing initiatives.
The company plans to raise up to USD $17 million through a Unit Offering and Common Share Offering, and subsequently list on the Toronto Stock Exchange (TSX). This would make HempFusion the first U.S.-based CBD company to list on the senior exchange in Canada. The move could open the door to greater institutional investment and more significant trading volume than smaller exchanges.
Unique Product Line Up
The CBD industry is projected to grow at a 49% compound annual growth rate to $20 billion by 2024, according to BDS Analytics and ArcView Group. While CBD oils and tinctures have been a favorite for consumers, there are a handful of companies launching differentiated products and brands that could ultimately become industry leaders.
HempFusion has focused on developing FDA Drug Listed Over the Counter (OTC) topicals, which mean substantiated health claims are permitted on the labels. In addition to these strong marketing advantages, the company is just one of a handful that have invested the time and capital to develop an OTC product line. National retailers have very strict compliance standards, and designing highly compliant products may give HempFusion an advantage when it comes to working with these chains.
The company’s OTC topical lineup has eight products including:
- OTC Pain Cream & Balm
- OTC Sports Relief Cream & Balm
- OTC Eczema Cream
- OTC Acne & Beauty/Aging Creams
- OTC Wound Healing/First Aid Ointment
The company’s existing distribution includes online retailers like Amazon.com and a growing network of brick-and-mortar retailers, such as Whole Foods Market. The company’s HF Labs and Biome Research divisions are simultaneously focused on reaching practitioners, doctors and licensed chiropractors, providing additional high value distribution.
Ambitious Growth Plans
HempFusion has the financial flexibility to scale its CBD operations throughout the country with the second-largest cash position in the industry—about $18 million as of June 2020. With an upcoming IPO, the company will have access to fresh capital to support its ambitious plans to enter thousands of additional retail locations, including Food and Drug Mass chains.
The company’s management team is uniquely qualified to execute on these plans after having raised hundreds of millions of dollars within the cannabis sector. In recent months, the company has also focused on expanding its board of directors with experts in consumer packaged goods, mergers and acquisitions, and other important areas.
If you’re interested in learning more, sign up to download the investor presentation and receive an IPO alert when the IPO takes place.
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