LOS ANGELES–(BUSINESS WIRE)–Jun 30, 2021–
Vertical Wellness™ [VWEL], a leader in the branded health and wellness space, has announced a merger with CanaFarma Hemp Products Corp. [CSE: CNFA], a full-service company operating in the hemp industry offering a full range of hemp-related products and services.
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The Vertical Wellness management team, including CEO J. Smoke Wallin, will run the combined business. The combined company will go under CanaFarma Corp. as the corporate entity but will keep the Vertical Wellness name.
This merger will make Vertical Wellness the first house of CBD brands to go public. The combined company will be worth over $50 million but could be significantly higher depending on stock price post-announcement.
CanaFarma went public in March 2020 just as the COVID-19 pandemic hit. The company had a successful IPO on the Canadian Securities Exchange, trading up to about $1.50 a share and ending up being over $200 million market cap company.
“This is a platform for Vertical Wellness to fulfill its vision. To launch a portfolio of brands along a vast array of categories and segments requires resources, and the CanaFarma deal enables us to attract those resources at a scale we need,” says Vertical Wellness CEO J. Smoke Wallin. “Working with Kathy Ireland and the exceptional worldwide team is a magnificent opportunity for any company in the space of CBD. Trust and credibility are essential. Many celebrities are placing their names on CBD products. That is absolutely not an appropriate description of how Kathy conducts business. Kathy is a power contributor to Vertical Wellness and just 5 days ago appeared in Yahoo Finance, upon being named the 15th most powerful brand in the world by License Global Magazine. This is the highest ranking for any woman in licensing indeed for an individually owned business in the licensing industry. Kathy will enter the Licensing Hall of Fame this year as the youngest inductee in history. We are very proud of Kathy and the vast accomplishments of the brilliant entrepreneur, the philanthropist, and the leader of one of the world’s truly great companies.”
Vitaly Fargesen, SVP Strategic Planning at CanaFarma Hemp said, “CanaFarma Hemp was founded with the express intention to be a large-scale brand company in the health and wellness space. Since early 2021, we have looked for the right opportunity to accelerate our mission through a business combination. Smoke, his team at Vertical Wellness, and kathy ireland Worldwide are exactly what we were looking for, and our investor base could not be more excited to have him lead our combined company.”
“We are honored and delighted for our partnership with Vertical Wellness™ and the opportunity created with the combination of CanaFarma Hemp,” says Ms. Ireland, Chair, CEO and Chief Designer of ki WW ®, who is named among the top ten women’s health advocates in America, according to UCLA. “We have long been invested in the CBD space, and we are so passionate about all the cutting-edge research and developments demonstrating the countless benefits on the health and wellness of people, as well as pets. Our new products are derived from the highest-quality Hemp plants, and are THC-free, providing the countless beneficial elements of the Hemp plant, without any psychotropic side-effects. Everything we have done at kathy ireland ® Worldwide has led to this extraordinary moment.”
Ms. Ireland adds, “Smoke and his team represent the core values and ethics that our company strives for in our partnerships, and at kathy ireland ® Worldwide, we have great trust and confidence in Smoke’s experience and leadership of this powerful program. Both our companies share the same passion in bringing our customers the most state-of-the-art, innovative CBD products to improve quality of life, as well as a shared dedication of improving the human condition around the world through philanthropic initiatives.” kathy ireland® Worldwide is committed to social responsibility with every partner, client and licensee supporting its Millennium Development Goals. As part of the partnership, Vertical Wellness combined with CanaFarma Hemp will be supporting two of these goals – Bringing opportunities of financial stability and healthcare to American veterans and their families; and ensuring environmental sustainability.
About Vertical Wellness™
Vertical Wellness is a leading vertically integrated consumer focused health and wellness brand company with innovative hemp cannabinoid solutions. Vertical Wellness’ mission is to help people by bringing the most innovative and effective portfolio of cannabinoid, health and wellness brands to the market. Initial VWEL brands include AntiDos®, GoldQ®, Halogenix Beauty™, Hemp-Moji™, Just Live®, kathy ireland® Health & Wellness, Lap Dog™, Neutrate Fitness™, Organic Candy Factory®, Par5™, Taos™, Wingra Farms™ and USMCC™. Vertical Wellness has operations in California and Kentucky and cultivated over 1,800 acres of hemp on partner farms last season. The Company has been one of the largest processors of hemp globally with over 22 million lbs owned, processed or contracted in 2020.
About kathy ireland ® Worldwide ( ki WW®)
ki WW® is listed as one of the most powerful brands in the world by License Global Magazine. Kathy Ireland is named one of the 19 most influential women in licensing by License Global magazine and according to Fairchild Publications, Kathy Ireland is one of the 50 most influential people in fashion. Furniture Today names Kathy one of the most influential leaders in the furniture industry. Kathy graces the cover of Forbes Magazine twice (2012, 2016). ki WW® is the recipient of multiple awards including several Good Housekeeping Seals. Kathy and ki WW® support many non-profits including: women and children’s health, HIV/AIDS, Education, human freedom, life, wars against religious persecution and violence. Kathy is a Board Member of the NFLPA, WNBPA Board of Advocates, an Ambassador and donor for the Elizabeth Taylor AIDS Foundation and International Youth Chair for the National Pediatric Cancer Foundation. https://www.kathyireland.com
About CanaFarma Hemp Products Corp.
CanaFarma Hemp Products Corp. is a full-service company operating in the hemp industry offering a full range of hemp-related products and services to the consumer wellness market. These products and services include growing top-quality hemp, providing hemp-processing services, and offering hemp-based products to consumers utilizing a well-established direct-to-consumer marketing approach.
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SOURCE: Vertical Wellness
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PUB: 06/30/2021 09:00 AM/DISC: 06/30/2021 09:02 AM
Read More: Vertical Wellness Announces Merger with CanaFarma Hemp Products Corp.