HempFusion sets sights on Canadian IPO

BOULDER — HempFusion, a Boulder-based CBD firm, has partnered with an advisory firm in anticipation of future public and private fundraising efforts.

The company is working with RADD Capital, a firm that specializes in raising capital for cannabis firms, to advise it about fundraising initiatives including multiple staged private financings and a future Canadian initial public offering, according to a HempFusion news release.

“We are incredibly excited to partner with RADD Capital and leverage its extensive cannabis and hemp industry expertise and significant financial service capabilities,” HempFusion CEO Ian deQueiroz said in a prepared statement. “This transformative business partnership is going to raise the bar and take our company to the next level as we prepare to rapidly scale, deploy capital, and emerge as a leader in the global CBD industry.”

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HempFusion products are currently sold in 3,400 retailers and the company is targeting an additional 26,000 outlets such as “conventional grocers, drug and convenience stores, vitamin and fitness shops, and doctor and practitioner networks,” the release said.  

HempFusion is not the only Boulder-based CBD company with an interest in Canadian stock markets. Charlotte’s Web is traded on the (CSE:CWEB) and will soon transition to the Toronto Stock Exchange.