HempFusion Wellness Inc. (CBD.U)

[infamous]

this is EXTREMELY GOOD! On November 21, 2022, the Company entered into the Asset Purchase Agreement.
Pursuant to the terms and conditions of the Asset Purchase Agreement, the Company
sold the Probiotic Business to the Purchaser effective November 21, 2022. As
consideration for the acquisition of the Probiotic Business, the Purchaser paid the
Company US$4,000,000 in cash on closing of the transaction and will pay an additional
US$1,000,000 in cash on December 31, 2022, subject to adjustment in certain
circumstances. Pursuant to the Asset Purchase Agreement, the Purchaser has also
assumed certain outstanding liabilities of the Company.
The Company anticipates using a portion of the cash proceeds to complete its financial
audits.
A copy of the Asset Purchase Agreement is available under the Company’s SEDAR profile
at www.sedar.com