CanaFarma MOU Partner Announces Launch of CBD Beverage Portfolio
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CanaFarma MOU Partner Announces Launch of CBD Beverage Portfolio

Thursday, July 29, 2021 7:20 AM
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VANCOUVER, BC / ACCESSWIRE / July 29, 2021 / CanaFarma Hemp Products Corp. (CSE:CNFA) (the "Company") announces that its MOU partner, Vertical Wellness™, a leader in the branded health and wellness space, has announced the long-anticipated launch of its fully developed portfolio of CBD Beverages at retail. Initial brands will include the Vertical Wellness-owned brands Taos® and Hemp-Moji™. A future launch is anticipated for other celebrity and athlete-driven wellness and lifestyle brands. Future products will also include a line of CBD iced teas, CBD sparkling beverages, CBD waters and functional hemp shots. These products will utilize Vertical Wellness' patented Fast-Absorption technology and other proprietary formulations designed to provide the highest quality and greatest efficacy for consumers in the wellness space.

CanaFarma recently announced the signing of a Memorandum of Understanding with Vertical Wellness (see the Company's press release dated June 29, 2021).

The Vertical Wellness management team, led by CEO J. Smoke Wallin, brings decades of combined experience in successfully building beverage brands in the beer, wine, spirits, RTD and water categories. Vertical Wellness has secured national distribution partners, and a network of independent wholesalers and brokers to enter the market in a significant manner. The current launch will focus on six U.S. markets with a national rollout slated for 2022.

Vitaly Fargesen, SVP of Strategy for CanaFarma, said, "One of the most exciting things about our expected combination with Vertical Wellness is Smoke and his team's deep beverage experience. We are fully supportive of these efforts and look forward to investing in these brands."

Wallin, a former Chairman and President of the Wine & Spirits Wholesalers of America commented, "We believe cannabis beverages will be one of the most important form factors for consumers. My criteria is the liquid has to taste great and, at the same time, the cannabinoids need to be effective. Our team has worked with the world's best flavor houses and scientists over the past three years developing these beverages to achieve exactly that. I can't wait to get these to market!"

"Building new and existing CBD brands in the beverage space opens ourselves up to many more opportunities," said Kevin Henry, VP of Brands at Vertical Wellness, who played a major role in building multiple alcohol brands in the U.S., including the Peroni beer brand for more than seven years. "On-premise accounts like restaurants, bars and hotels give us a chance to really bring these brands to life and engage with consumers firsthand, which is especially important for a new category like CBD, where education and advocacy are key."

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. Vertical Wellness™ partnered with kathy ireland® Worldwide (kiWW®) to produce CBD products, with the first brand release of kathy ireland® HEALTH & WELLNESS CBD Solutions™ coming in Fall 2021. Kathy Ireland is Chair, CEO, and Chief Designer of kiWW®, is named among the top 10 women's health advocates in America according to UCLA and was recently listed as the 15th most powerful brand in the world by License Global Magazine. Other Vertical Wellness brands include AntiDos®, GoldQ®, Halogenix Beauty™, Hemp-Moji™, Just Live®, Lap Dog™, Neutrate Fitness™, Organic Candy Factory®, Par5™, Taos®, Wingra Farms™ and USMCC™. Vertical Wellness has operations in California and Kentucky.

About CanaFarma

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.

For further information, please contact:

CanaFarma Hemp Products Corp.
Vitaly Fargesen

Senior Vice President, Strategic Planning
Tel: + (718) 757-4145
Email: [email protected]

Forward Looking Statement

This news release contains statements and information that, to the extent that they are not historical fact, may constitute "forward-looking information" within the meaning of applicable securities legislation. Forward-looking information may include financial and other projections, as well as statements regarding future plans, objectives or economic performance, or the assumption underlying any of the foregoing. In some cases, forward-looking statements can be identified by terms such as "may", "would", "could", "will", "likely", "except", "anticipate", "believe", "intend", "plan", "forecast", "project", "estimate", "outlook", or the negative thereof or other similar expressions concerning matters that are not historical facts. Examples of such statements include, but are not limited to the sale of future products and the potential business combination of CanaFarma and Vertical Wellness. Forward-looking information is based on the assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect.

Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: financing risks; regulatory and licensing risks; changes in consumer demand and preferences; changes in general economic, business and political conditions, including changes in the financial markets; risks relating to regulatory change; compliance with extensive government regulation; public opinion; the impact of COVID-19; and the risk factors set out in the Company's public documents filed with Canadian securities regulators and available on the Company's profile on SEDAR at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Accordingly, readers should not place undue reliance on any such forward-looking information. Further, any forward-looking information speaks only as of the date on which such statement is made. New factors emerge from time to time, and it is not possible for the Company's management to predict all of such factors and to assess in advance the impact of each such factor on the Company's business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking information. The Company does not undertake any obligation to update any forward-looking information to reflect information or events after the date on which it is made or to reflect the occurrence of unanticipated events, except as required by law, including securities laws.

SOURCE: CanaFarma Hemp Products Corp.

CanaFarma Hemp Products Corp.
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