HempFusion Wellness Inc (TSX:CBD.U, OTCQX:CBDHF) said it has sold the assets and operations of its probiotic business, principally supplements sold under the Probulin brand name, under an asset purchase agreement dated November 21, 2022, with Kadenwood Inc, a private Delaware corporation.
"Through this sale we have been able to reduce our debt and add operating cash, allowing the continued operation of our core CBD business,” the company said in a statement.
“We expect to use a portion of the proceeds to complete our financial audits and we are aiming to re-establish our listing qualifications in 2023," it added.