HempFusion Announces Large-Scale Distribution Agreement with Fullscript.com to Launch Doctor Practitioner Sales Channel
HempFusion Wellness Inc. (TSX:CBD.U) (“HempFusion” or the “Company”), a leading health and wellness CBD company utilizing the power of whole-food hemp nutrition, is pleased to announce that it has entered into a large-scale distribution agreement with Fullscript.com (“Fullscript”), a leading eCommerce platform that allows health professionals to dispense professional-grade natural health products. Fullscript is one of the largest distributors in the category, providing nutritional supplements to over 80,000 practitioners and over 600,000 patients across the United States and Canada.
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Total Care Daily Probiotic from Biome Research (Photo: Business Wire)
This agreement signifies HempFusion’s strategic launch into the doctor practitioner sales channel.
HempFusion’s seven Biome Research SKUs will be available to ship from Fullscript distribution centers starting February 2, 2021.
“We are incredibly excited to launch doctor practitioner sales starting with Biome Research, a specialized wholly-owned HempFusion brand designed specifically for doctors, practitioners and their patients,” stated Nancy Angelini, HempFusion’s Director of Doctor/Practitioner.
“An industry-leading eCommerce platform like Fullscript, with a deep and established distribution network, is a tremendous advantage to HempFusion. We expect this channel to drive significant revenue growth for the Company,” continued Angelini.
Biome Research products have been under development by the Company for nearly 14 months. The products include scientifically documented strains of beneficial and living probiotic bacteria that utilize an exclusive and scientifically validated MAKTrek 3-D Probiotic Delivery System. All formulations are based on well-founded scientific research using validated methods to protect and deliver live probiotics to the lower gastrointestinal tract. The launch concludes many months of planning and preparation, including procurement of the product ingredients, final SKU productions and logistics.
“The launch into the doctor practitioner sales channel is crucial. It is a major component of the Company’s broader five-channel distribution strategy, which includes planned expansion in Natural, eCommerce, Food & Drug Mass, and Convenience channels,” stated Jason Mitchell, N.D, HempFusion’s Chief Executive Officer.
Biome Research is a division of HempFusion’s wholly-owned subsidiary, Probulin Probiotics, LLC.
Fullscript is an online dispensary platform designed by Healthy Web Inc. that allows health professionals to dispense the industry’s largest catalogue of professional-grade natural health products.
HempFusion is a leading health and wellness CBD company utilizing the power of whole-food hemp nutrition. HempFusion distributes its family of brands, including HempFusion, Probulin Probiotics, Biome Research, and HF Labs, to approximately 4,000 retail locations across all 50 states of the United States and select international locations. Built on a foundation of regulatory compliance and human safety, HempFusion’s diverse product portfolio comprises 46 SKUs including tinctures, proprietary FDA Drug Listed Over-The-Counter (OTC) Topicals, Doctor/Practitioner Lines and more. With a strong focus on research and development, HempFusion has an additional 30 products under development. HempFusion is a board member of the US Hemp Roundtable, and HempFusion’s wholly-owned subsidiary, Probulin Probiotics, is one of the fastest-growing probiotics companies in the United States, according to SPINs reported data. HempFusion’s CBD products are based on a proprietary Whole Food Hemp Complex™ and are available in-store or by visiting HempFusion online at www.hempfusion.com or www.probulin.com.
This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation (collectively, “forward-looking statements“) that relate to HempFusion’s current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as “will likely result”, “are expected to”, “expects”, “will continue”, “is anticipated”, “anticipates”, “believes”, “estimated”, “intends”, “plans”, “forecast”, “projection”, “strategy”, “objective” and “outlook”) are not historical facts and may be forward-looking statements and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. These statements speak only as of the date of this news release. In particular and without limitation, this news release contains forward-looking statements relating to the Company’s launch into the doctor practitioner sales channel, revenue growth, planned expansion in Natural, e-Commerce, Food Drug Mass and Convenience sales channels and the Company’s other plans, focus and objectives.
Forward-looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond HempFusion’s control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to, the impact and progression of the COVID-19 pandemic and other factors set forth under “Forward-Looking Statements” and “Risk Factors” in the final long form prospectus of the Company dated December 17, 2020 and available under the Company’s profile on SEDAR at www.sedar.com. HempFusion undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for HempFusion to predict all of them or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. Any forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.
Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.
Jason Mitchell, N.D.
Chief Executive Officer and Director
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