CANBUD Distribution Corp. (CSE:CBDX, FSE:CD0) leverages on timely and methodical execution of its revenue generating plan. It operates a trinitarian enterprise model in the plant-based protein, psychedelic pharmaceutical and non-psychedelic nutraceutical, and hemp cannabinoids (CBD) spaces. (www.canbudcorp.com).
The company’s vision and mission is to become a world leader in science and technological innovations through plant and mushroom-based disruptive wellness and environmental solutions.
Love Hemp Group PLC (AQSE:LIFE) (OTCQB:WRHLF), one of the UK’s leading CBD and hemp product suppliers, is pleased to announce that it has appointed Stephen White as Chief Marketing Officer and Steve Horan as Head of Marketing as part of Love Hemp’s strategy to become a globally recognised brand
Stephen White and Steve Horan have recently joined the Company having both previously worked at JD Sports Fashion plc (“JD Sports” or the “Group”) for 19 years and 20 years respectively, where they held the roles of Group Marketing Director and Head of Marketing. During their time at JD Sports, they saw the company grow from being a UK based company to one with locations across three continents and were working for the Group when it was promoted into the FTSE 100 in 2019.
Stephen and Steve were part of the team that guided JD Sports’ marketing activities, retail promotions, transitions from retail focus to online and overall corporate vision and marketing activations, by utilising sporting and lifestyle relationships to accelerate direct relationships to JD Sports’ consumers as well as growing and developing a globally focused marketing team.
Stephen White has over 40 years of industry experience in brand building and consumer-centric marketing. Stephen’s expertise lies in the development of engagement and connection to consumers through customer centric initiatives to engage at every stage of the consumer journey. Stephen has a proven track record of developing and executing brand marketing strategies to drive sales and fuel market expansion across multiple international territories and aid the growth of third-party brands. While at JD Sports, Stephen built a strong, internationally focused marketing team across the Far East, Australasia, Western Europe and America, using his knowledge and skills to implement a global mindset.
Steve Horan has over 20 years’ experience of planning and executing marketing strategies to support retail sales growth and delivering consistent brand positioning across multiple international territories. Steve has a strong focus on the identification and implementation of marketing communications across relevant consumer channels to increase brand awareness and help generate strong sales.
Along with a strong background in marketing and communications, both Stephen and Steve have worked through fundraising ventures and other financial calendar events, providing them with the skills to ensure Love Hemp is able to communicate effectively across the board.
Tony Calamita, Chief Executive Officer of Love Hemp Group commented: “I am delighted to have Stephen and Steve on board and look forward to utilising their wealth of knowledge and experience to support the future growth of the Love Hemp brand. The expertise provided by our recent hires is of a calibre that will provide the Company with the much-needed support to grow and develop our impressive brand.
“As recent announcements, including the UFC partnership, have demonstrated, we are starting to position Love Hemp as a global brand, and I have no doubt that Stephen and Steve will be invaluable as we work towards an international business profile.”
-ENDS-
For further information please contact:
|
Andrew Male
Chairman & Director +44 (0) 7926 397 675 |
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|
|
|
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AQSE Corporate Adviser
Mark Anwyl/Allie Feuerlein
Peterhouse Capital Limited
+44 (0) 20 7469 0930
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Financial PR
Tim Blythe
Alice McLaren
Madeleine Gordon-Foxwell
+44 (0) 207 138 3204
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Financial Advisor
Rupert Fane
H&P Advisory Limited
+44 (0) 20 7907 8500
rf@hannam.partners
For more information on Love Hemp Group please visit: www.lovehempgroup.com
About Love Hemp Group
The Company was incorporated on 30 January 2019 as an Investment Vehicle. Originally intended to identify opportunities in the CBD and Medicinal Cannabis space, it quickly acquired Love Hemp Ltd., the UK’s most recognisable CBD brand. The listed company recently changed its name to Love Hemp Group PLC as part of its evolving strategy to purely focus on supporting the “best in class” CBD brand as it embarks on a wider expansion of its core business and offering.
Love Hemp produces and supplies more than 40 product lines, comprising of oils, sprays and tinctures and a variety of edible and water-based CBD products. Love Hemp has established relationships with over 2,000 stores in the UK, including leading retailers such as Sainsbury’s, Boots, Ocado and Holland & Barrett.
Market Abuse Regulation (MAR) Disclosure
The information contained within this announcement is deemed by the Company to constitute inside information. Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
SOURCE: Love Hemp Group PLC
View source version on accesswire.com:
https://www.accesswire.com/647916/Love-Hemp-Group-PLC-Announces-Senior-Marketing-Appointments
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Expects to file its 2020 Annual Financial Statements on or before May 31, 2021
Matica Enterprises Inc. (CSE: MMJ) (FSE: 39N) (OTC: MMJFF) (“Matica” or the “Company”) announces today that further to our news releases of May 3, 2021, the filing of the Company’s audited annual financial statements for the year ended December 31, 2020, including the related management discussion and analysis, and CEO and CFO certifications (collectively, the “Annual Financial Statements”) remain outstanding. As part of the Company’s biweekly status report, Matica expects that the Annual Financial Statements together with the auditor’s report thereon should be finalized within fourteen days and filed, together with Matica’s annual management’s discussion and analysis for the 2020 fiscal year, by the next business day.
The Company reports that since its original announcement on May 3, 2021, in respect of the Management Cease Trade Order issued in connection herewith, there has not been any material changes to the information provided in the Notice other than as described herein nor any failure by the Company in fulfilling its stated intentions with respect to satisfying the alternative information guidelines required pursuant to National Policy 12-203 (“NP 12-203”). In addition, there has not been any other specified default by the Company under NP 12-203, nor are any anticipated and there is no other material information concerning the affairs of the Company that has not been generally disclosed.
The Company confirms that it will continue to satisfy the provisions of the alternative information guidelines under NP 12-203 for so long as it remains in default as a result of the late filing of the 2020 Annual Financial Statements. During the period of default, Matica will continue to issue bi-weekly default status reports in the form of further press releases, which will also be filed on SEDAR. today announced that, as a result of the COVID 19 Pandemic measures, it was not able to file its audited annual financial statements, the related management’s discussion and analysis and the related CEO and CFO certificates (the “Annual Filings”) before the required deadline of April 30, 2021 (the “Specified Requirements”).
Matica applied for and has been granted by the Ontario Securities Commission (its principal regulator), a management cease trade order (“MCTO”) under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203”) over the duration of the default. The MCTO will generally not affect the ability of persons who have not been directors, officers or insiders of Matica to trade in their securities.
The Company is working closely with its auditor and expects to file the Annual Filings on or before May 31, 2021 and will issue a news release announcing completion of such filings at such time. The Company does anticipate a delay in filing its interim financial statements, management’s discussion and analysis, and the related officer certifications for the financial period ended March 31, 2021.
The Company is providing this press release in accordance with National Policy 12-203 Management Cease Trade Orders (“NP 12-203”). Until the Company files the Annual Filings, it will comply with the alternative information guidelines set out in National Policy 12-203 – Management Cease Trade Order for issuers who have failed to comply with a specified continuous disclosure requirement within the times prescribed by applicable securities laws. The guidelines, among other things, require the Company to issue bi-weekly default status reports by way of a news release so long as the Annual Filings have not been filed. The Company confirms as of the date of this news release that there is no other material information concerning the affairs of the Company that has not been generally disclosed.
For more information on Matica Enterprises please visit the website at: www.maticaenterprises.com.
On behalf of the Board of Directors
Matica Enterprises INC.
Boris Ziger
Boris Ziger, CEO & Chairman
The Company’s public filings are available for review at www.sedar.com and www.thecse.com.
For further information, please contact Boris Ziger, at:
Telephone: 416-304-9935
E-mail: info@maticaenterprises.com
Website: www.maticaenterprises.com , www.maticammj.com
Disclaimer for Forward-Looking Information
Certain information in this press release may constitute forward-looking information. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. The Corporation assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to the Corporation. Additional information identifying risks and uncertainties is contained in the Corporation’s filings with the Canadian securities regulators, which filings are available at www.sedar.com.
This news release contains statements about the Company’s information that may be made available on the S&P Capital IQ Corporation Records Listing Program and the business of Matica that are forward-looking in nature and as a result, are subject to certain risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them as actual results may differ materially from the forward-looking statements. The forward-looking statements contained in this news release are made as of the date hereof, and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, except as required by law.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. We seek Safe Harbor.
This news release is not for distribution or dissemination in the United States of America
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/84381
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HempFusion Wellness Inc. (TSX:CBD.U) (OTCQX:CBDHF) (FWB:8OO) (“HempFusion” or the “Company”), an industry leader in full spectrum cannabidiol (CBD) hemp extract wellness products and probiotics, today reported financial results for the first quarter ended March 31, 2021. All dollars are stated in US Dollars.
Q1-2021 Financial Highlights
Q1-2021 Business Highlights
“With nearly all international business paused due to COVID throughout 2020 and Q1 2021, and with slower than expected reopenings, the Company still achieved an incremental QoQ growth of 7.6%. Now, with vaccine rollouts taking place across the country, we are encouraged with reopening rates and excited that our sales, which currently take place in approximately 75% brick-and-mortar businesses, are beginning to reopen,” commented Jason Mitchell, N.D., HempFusion’s Co-Founder and Chief Executive Officer.
“We remain committed to developing new revenue channels and have entered additional countries including China, Ireland, and the United Kingdom, and we are excited with subsequent quarterly events in which new purchase orders were received, showing early signs of the return of international business. These international POs have the potential to drive millions in revenue. We are working feverishly to accelerate sales through organic channels and the continued pursuit of M&A opportunities; early indications have Q2 shaping up to be our best quarter yet,” continued Dr. Mitchell.
Statements of Loss and Comprehensive Loss
The Below is from the Unaudited Condensed Interim Financial Statements for the Three Months Ended March 31, 2021 and 2020; Please Refer to the Complete Report, Including the Notes, Other Statements and Other Contents Therein.
Consolidated net revenue for the three months ended March 31, 2021 increased 7.6% quarter-over-quarter to $983,496 versus $913,646 in Q4-2020, and DTC e-commerce net sales increased 59.3% reflecting increased marketing efforts, a targeted DTC team, and targeted digital promotions. Site traffic increased by 62%, and conversion rates increased to 1.9%. DTC accounted for 24.8% of total revenue in the first quarter of 2021 versus 16.8% for Q4-2020.
Consolidated B2B net revenue decreased 2.8% to $739,241 from $760,341 in Q4-2020 reflective of the above-referenced growth in DTC and a decrease in conventional grocery.
International sales increased to $75,994 from nil showing a return to normal from Q4-2020, and early indication of future international orders accelerating and producing incremental quarterly gains. HempFusion maintains a leadership position in retailers across the United States, including the #1 in sales by dollar volume and SKUs in one of the top five largest FDM channel retailers.
Gross profit of $280,205 or 28.5% of net revenue is primarily attributed to improvement in inventory and supply chain management.
Operating expenses were $6,306,703, an increase of 42.9% from $4,414,792 in Q4-2020, primarily attributed to IPO related expenses, including D&O insurance and listing fees, as well as marketing and digital expenses.
Balance Sheet | Cash Position
The Below is from the Unaudited Condensed Interim Financial Statements for the Three Months Ended March 31, 2021 and 2020; Please Refer to the Complete Report, Including the Notes, Other Statements and Other Contents Therein.
The Company ended Q1-2021 with a strong cash position of $17,074,030 ensuring the capital requirements of the Company are met, with ample room for strategic M&A. The Company incurred $2,655,134 in general and administrative expenses and $3,651,569 in sales and marketing expenses.
“In 2019, HempFusion (combined with Probulin on a pro forma basis with respect to 2019) achieved net revenue of $4,627,544, followed by $3,823,638 in 2020. The impact COVID has had on our business is clear. We have adapted. It’s important to note we have strategically bolstered the Company’s online presence with the help of new channels such as Amazon for Probulin and Alibaba’s Tmall for both brands. Our efforts have resulted in early traction and success, as we continue to strengthen our foothold in the direct-to-consumer CBD market. This quarter showed a strong DTC sales increase of 59.3%. We expect this trend to continue as DTC now accounts for 24.8% of total revenue in the first quarter of 2021 versus 16.8% for Q4-2020,” commented Dr. Mitchell.
Conference Call
Management of the Company will host a conference call to discuss the Company’s first quarter 2021 results at Monday, May 17, 2021 at 4:15 p.m., Eastern Time. To participate in the call, please dial 888-506-0062. For international callers, dial 973-528-0011. Use Participant Code: 795055. To join the webcast: https://www.webcaster4.com/Webcast/Page/2710/41342 .
A replay will be available from the Investor Relations section of HempFusion’s website at HempFusion.com/corporate-information .
ABOUT HEMPFUSION
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 48 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 .
Follow HempFusion on Twitter , Facebook and Instagram and Probulin on Twitter , Facebook and Instagram .
FORWARD-LOOKING STATEMENTS
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 continued growth of the Company’s international business and revenue, the Company’s plans to accelerate sales, DTC sales expectations 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 “ Cautionary Note Regarding Forward-Looking Statements ” and “ Risk Factors ” in the annual information form of the Company dated March 31, 2021 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.
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HempFusion Wellness INC |
||||||
| For the three | For the three | |||||
| months ended | months ended | |||||
| March 31, | March 31, | |||||
|
2021 |
2020 |
|||||
| $ | $ | |||||
| Revenue, net of discounts |
983,496 |
|
977,379 |
|
||
| Cost of goods sold |
703,291 |
|
944,756 |
|
||
| Gross profit |
280,205 |
|
32,623 |
|
||
| Expenses | ||||||
| General and administrative | Note 14 |
2,655,134 |
|
2,176,528 |
|
|
| Sales and marketing |
3,651,569 |
|
2,238,264 |
|
||
| Total expenses |
6,306,703 |
|
4,414,792 |
|
||
| Net loss from operations |
(6,026,498 |
) |
(4,382,169 |
) |
||
| Other (income) expenses | ||||||
| Other (income) |
(102,465 |
) |
(65,268 |
) |
||
| Interest expense |
4,783 |
|
7,582 |
|
||
| Change in fair value of derivative liabilities | Note 10 |
— |
|
(64,387 |
) |
|
| Gain on derecognition of derivative liabilities |
(70,809 |
) |
— |
|
||
| Change in fair value of purchase consideration | Note 4 |
(36,342 |
) |
177,275 |
|
|
| Total other (income) expenses |
(204,833 |
) |
55,202 |
|
||
| Income tax (recovery) expense |
— |
|
— |
|
||
| Net loss and comprehensive loss |
(5,821,665 |
) |
(4,437,371 |
) |
||
| Loss per common share – basic and diluted |
(0.05 |
) |
(0.04 |
) |
||
| Weighted average number of common shares – basic and diluted |
116,351,760 |
|
99,699,196 |
|
||
|
HempFusion Wellness Inc. |
|||||
| March 31, | December 31, | ||||
|
2021 |
|
2020 |
|
||
| $ | $ (Audited) | ||||
| ASSETS | |||||
| Current | |||||
| Cash |
17,074,030 |
|
9,262,517 |
|
|
| Trade receivables | Note 5 |
341,026 |
|
457,058 |
|
| Inventory | Note 6 |
2,931,910 |
|
2,576,866 |
|
| Prepayments | Note 7 |
2,611,815 |
|
1,530,846 |
|
|
22,958,781 |
|
13,827,287 |
|
||
| Property and equipment | Note 8 |
309,975 |
|
303,162 |
|
| Right-of-use-assets | Note 9 |
211,003 |
|
225,589 |
|
| Prepayments – non current | Note 7 |
259,997 |
|
— |
|
| Total assets |
23,739,756 |
|
14,356,038 |
|
|
| LIABILITIES | |||||
| Current | |||||
| Accounts payable and accrued liabilities |
1,685,275 |
|
2,324,534 |
|
|
| Derivative liabilities | Note 10 |
— |
|
13,975,514 |
|
| Lease obligations | Note 9 |
61,595 |
|
60,279 |
|
| Purchase consideration payable | Note 4 |
1,330,757 |
|
1,367,099 |
|
|
3,077,627 |
|
17,727,426 |
|
||
| Non-current | |||||
| Lease obligations | Note 9 |
149,408 |
|
165,310 |
|
| Total liabilities |
3,227,035 |
|
17,892,736 |
|
|
| SHAREHOLDERS’ EQUITY | |||||
| Share capital | Note 10 |
57,383,871 |
|
45,002,867 |
|
| Warrant reserve | Note 10 |
17,412,878 |
|
1,572,556 |
|
| Contributed surplus | Notes 10 and 11 |
5,455,635 |
|
3,805,877 |
|
| Accumulated deficit |
(59,739,663 |
) |
(53,917,998 |
) |
|
| Total equity |
20,512,721 |
|
(3,536,698 |
) |
|
| Total liabilities and shareholders’ equity |
23,739,756 |
|
14,356,038 |
|
|
View source version on businesswire.com: https://www.businesswire.com/news/home/20210517005906/en/
Jason Mitchell, N.D.
Chief Executive Officer and Director
Email: ir@hempfusion.com
Phone: 416-803-5638
News Provided by Business Wire via QuoteMedia
SHAREHOLDER INVESTIGATION: Halper Sadeh LLP Investigates MFNC, SPRT, WIFI, HRVSF; Shareholders are Encouraged to Contact the Firm
Halper Sadeh LLP, a global investor rights law firm, announces it is investigating the following companies
Mackinac Financial Corporation (NASDAQ:MFNC) concerning potential violations of the federal securities laws and/or breaches of fiduciary duties relating to its sale to Nicolet Bankshares, Inc. Under the terms of the merger agreement, Mackinac shareholders will receive 0.22 shares of Nicolet’s common stock and $4.64 for each share of Mackinac they own. If you are a Mackinac shareholder, click here to learn more about your rights and options.
Support.com, Inc. (NASDAQ:SPRT) concerning potential violations of the federal securities laws and/or breaches of fiduciary duties relating to its merger with Greenidge Generation Holdings Inc. If you are a Support.com shareholder, click here to learn more about your rights and options.
Boingo Wireless, Inc. (NASDAQ:WIFI) concerning potential violations of the federal securities laws and/or breaches of fiduciary duties relating to its sale to an affiliate of Digital Colony Management, LLC for $14.00 per share in cash. If you are a Boingo shareholder, click here to learn more about your rights and options.
Harvest Health & Recreation Inc. (OTCQX:HRVSF) concerning potential violations of the federal securities laws and/or breaches of fiduciary duties relating to its sale to Trulieve Cannabis Corp. Under the terms of the agreement, Harvest shareholders will receive 0.1170 of a subordinate voting share of Trulieve for each Harvest subordinate voting share (or equivalent) held. If you are a Harvest Health shareholder, click here to learn more about your rights and options.
Halper Sadeh LLP may seek increased consideration, additional disclosures and information concerning the proposed transaction, or other relief and benefits on behalf of shareholders.
Shareholders are encouraged to contact the firm free of charge to discuss their legal rights and options. Please call Daniel Sadeh or Zachary Halper at (212) 763-0060 or email sadeh@halpersadeh.com or zhalper@halpersadeh.com.
Halper Sadeh LLP represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors.
Attorney Advertising. Prior results do not guarantee a similar outcome.
Contact Information:
Halper Sadeh LLP
Daniel Sadeh, Esq.
Zachary Halper, Esq.
(212) 763-0060
sadeh@halpersadeh.com
zhalper@halpersadeh.com
https://www.halpersadeh.com
SOURCE: Halper Sadeh LLP
View source version on accesswire.com:
https://www.accesswire.com/647721/SHAREHOLDER-INVESTIGATION-Halper-Sadeh-LLP-Investigates-MFNC-SPRT-WIFI-HRVSF-Shareholders-are-Encouraged-to-Contact-the-Firm
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