HempFusion Wellness Inc. (TSX:CBD), bankruptcy

HempFusion Wellness Inc. (TSX:CBD), a British Columbia health and wellness supplement company which manufactured and distributed Hemp-based cannabidiol (CBD) and probiotic products, filed an assignment in bankruptcy on June 21, 2023. The company lists approximately $2.2 million in liabilities, including approximately $660,000 to MNP (the company’s auditors), $350,000 to Hybrid Financial and $290,000 to McMillan. In late April 2023, Gaby Inc. announced its intention to acquire the company. However, on June 1, 2023, HempFusion announced that it had ceased operating and terminated the majority of its employees, and that it was exploring its options under applicable bankruptcy and insolvency legislation. FTI is the Bankruptcy Trustee.

By: Dina Milivojevic