Cannabidiol (CBD) Sales are Projected to Exceed $20 Billion by 2024, According to BDS Analytics and Arcview Market Research, Representing a 49% Compound Annual Growth Rate
Whitefish, Montana–(Newsfile Corp. – October 26, 2020) – CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the leading media network dedicated to the global legal cannabis, CBD and psychedelics industries, today announced the addition of HempFusion® to its growing client roster within the rapidly growing cannabidiol (CBD) industry.
Figure 1: HempFusion Logo
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CFN Media will leverage its proprietary digital content platform and extensive distribution network, including CannabisFN and the CFN App for iOS, to attract targeted retail, accredited and institutional investors to HempFusion as it prepares to list on the TSX.
“The market for hemp-based CBD has become a driving force across North America,” said CFN Media President Frank Lane. “With distribution in over 4,000 retail locations across all 50 states plus nationwide e-commerce, HempFusion has become one of the most visible CBD brands in the country. We look forward to helping them attract investors and market visibility as they prepare to go public.”
“With the symbol CBD reserved, HempFusion intends to be the first US based CBD Company to IPO directly onto the TSX (senior board); it is a tremendous honour,” stated Danny Brody, HempFusion’s CCO. “Completing the proposed IPO will accelerate our ability to scale HempFusion’s operations both domestically and internationally, drive accelerated growth within our distribution channels, and further expand all marketing initiatives to further elevate the HempFusion brand,” continued Brody.
CBD sales are projected to exceed $20 billion by 2024, according to BDS Analytics and Arcview Market Research, representing a 49% compound annual growth rate. Many large pharmacy chains and national grocery chains have started to offer CBD products to their customers as the industry transitions from dispensary sales to mass market retailers.
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 retailers 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.
About CFN Enterprises Inc.
CFN Enterprises Inc. (OTCQB: CNFN) is a digital media and ecommerce company focused on advancing businesses and brands in highly regulated emerging industries across the globe. CFN connects investors with new market opportunities while helping consumers find innovative products that enhance their lives. Learn more at www.cfnenterprisesinc.com.
CFN Enterprises Inc. Media Contact:
CFN Enterprises Inc.
+001 (833) 420-CNFN
Use of Forward-looking Statements
This press release may contain forward-looking statements from CFN Enterprises Inc. within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and federal securities laws. For example, when CFN Enterprises Inc. describes the potential acquisition of BarNone assets and the related benefits, its pursuit of M&A opportunities, growth in CBD sales and spending on affiliate marketing, and uses other statements containing the words “believes,” “anticipates,” “plans,” “expects,” “will” and similar expressions, CFN Enterprises Inc. is using forward-looking statements. These forward-looking statements are based on the current expectations of the management of CFN Enterprises Inc. only, and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: regulatory and licensing risks; changes in general economic, business and political conditions, including changes in the financial markets; the regulatory landscape and enforcement related to cannabis, including political risks and risks relating to regulatory change; changes in applicable laws; compliance with extensive government regulation; public opinion and perception of the cannabis industry; we may be unable to retain or attract key employees whose knowledge is essential to the development of our products and services; or, loss of market share and pressure on pricing resulting from competition, which could cause the actual results or performance of CFN Enterprises Inc. to differ materially from those contemplated in such forward-looking statements. Except as otherwise required by law, CFN Enterprises Inc. undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. For a more detailed description of the risk and uncertainties affecting CFN Enterprises Inc., reference is made to CFN Enterprises Inc.’s reports filed from time to time with the Securities and Exchange Commission.
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