Law360 (May 26, 2021, 8:57 PM EDT) — Denver-based CBD company HempFusion Wellness Inc. racked up another acquisition this week with the announcement that it would purchase Sagely Enterprises Inc. for $25 million in cash and stock.
As part of the deal, announced on Tuesday, HempFusion will pay $2 million in cash and the $23 million remainder in common shares of the company. If Sagely hits a revenue target of just over $6 million in the first year after closing, the sellers may receive an additional $5 million in cash and stock, the company said.
The announcement comes on the heels of HempFusion’s making public that it would acquire…
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