Benzinga | Oct 20, 2021 11:48AM EDT

HempFusion's Stock Slightly Up On Announcing Sagely Naturals' Launch Into Top 10 US Retail Outlets

HempFusion Wellness Inc. (TSX:CBD) (OTCQX:CBDHF) (FWB:8OO) announced Wednesday that its wholly-owned subsidiary, Sagely Enterprises, Inc., has launched four SKUs of over the counter topical pain relief products exclusively into a Top 10 US publicly listed Food, Drug & Mass retailer in over 1,100 stores to start.

The brand expansion of Sagely Naturals is intended for its robust and female-centric consumer base.

"One of the main reasons we acquired Sagely Naturals was due to the strength of the brand, most notably their core group of female-centric consumers who typically control a significant portion of household spending," said Jason Mitchell, N.D., HempFusion's co-founder and CEO.

Kerrigan Behrens, co-CEO of Sagely Naturals, stressed that more than 80% of the company's direct-to-consumer shoppers are women, which allows it to get "insight into precisely catering to their unique needs and offering medicine-cabinet options that are crafted specifically for them."

As a new retail relationship with the Denver-based company, the collaboration will provide a test-run for future opportunities around hemp-derived CBD products based on potential regulatory environment changes.

"With this collection, we are seizing an opportunity for disruption," Behrens continued. "Legacy brands haven't innovated beyond their core offerings and packaging designs in years, leaving the category somewhat stagnant."

Sagely Naturals offers natural products that harness the power of cooling menthol for soothing pain relief as well as other important skin-supporting cosmetic ingredients, including Boswellia Serrata, vibrant peppermint, camphor and safflower.

More recent news from HempFusion:

* HempFusion Wellness' Shares Down On 84% YoY Higher Revenue In Second Quarter, E-commerce Revenues Spike 268%

* CBD Co. HempFusion Completes Acquisition Of Apothecanna

CBDHF Price Action

Hemp Fusion's shares traded 2.86% higher at 22 cents per share at the time of writing Wednesday.

Photo: Courtesy of HempFusion Wellness Inc.