HempFusion Wellness Inc (TSX:CBD.U) (FRA:8OO) said on Tuesday that it has been included in two leading cannabis and hemp-derived CBD focused exchange-traded funds, AdvisorShares Pure US Cannabis ETF (NYSE:MSOS) and AdvisorShares Pure Cannabis ETF (NYSE:YOLO).
The Denver, Colorado-based health and wellness CBD company utilizing the power of hemp, noted that AdvisorShares is a leading sponsor of actively managed exchange-traded funds (ETFs).
Pure US Cannabis ETF is the only US-listed ETF dedicated solely to US cannabis exposure, with over US$616 million in assets under management. On the other hand, Pure Cannabis ETF was the first US-based actively managed ETF focused on the global cannabis industry. Both YOLO and MSOS endeavor to achieve long-term capital growth by investing in some of the largest foreign and domestic cannabis and hemp-derived CBD companies.
READ: HempFusion strikes a deal to distribute its Biome Research products on the Fullscript.com platform
Significantly, the two AdvisorShares ETFs have combined assets under management of over US$880 million as of January 22, 2021.
“We are pleased the AdvisorShares ETFs have initiated positions in our company. This represents a strong milestone for the company and provides us added exposure to the investment community,” HempFusion co-founder and CEO Jason Mitchell said in a statement.
“Inclusion in these ETFs brings additional exposure to potential new investors as well as generates value for existing shareholders.”
Mitchell, a naturopathic doctor, noted that with the listing on the Toronto Stock Exchange, current market capitalization, and liquidity, he believes the company now meets many cannabis-related ETFs’ inclusion requirements.
“We look forward to other potential ETFs’ initiating positions,” added Mitchell.
HempFusion enjoys high visibility as its family of brands — HempFusion, Probulin Probiotics, Biome Research, and HF Labs — are widely distributed to around 4,000 retailers spread across all 50 states in the US and select international locations.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
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