Mr. Jason Mitchell of Hempfusion reports

HEMPFUSION ANNOUNCES IT WILL NOT BE PROCEEDING WITH PROPOSED TRANSACTION WITH GABY INC.

Hempfusion Wellness Inc. will not proceed with the proposed transaction with Gaby Inc. as announced in the company's news release on April 28, 2023.

The company has ceased its manufacturing, research and development operations, and will be terminating the majority of its employees, effective June 2, 2023. The company will no longer be shipping its products and will not be accepting any new orders. Due to the company's inability to make satisfactory arrangements to discharge its outstanding liabilities, the company is exploring its options under applicable bankruptcy and insolvency legislation.

About Hempfusion Wellness Inc.

Hempfusion is a health and wellness company whose family of brands include Hempfusion, Sagely Naturals and Apothecanna.

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