CanaFarma Hemp Products Corp. (CNSX:CNFA) signed a memorandum of understanding to acquire Vertical Wellness, Inc. on June 29, 2021. The combined company continue to trade on the CSE and OTC as CanaFarma but will retail its products as Vertical Wellness. Vertical’s current Chief Executive Officer J. Smoke Wallin will act as new Chief Executive Officer for the combined businesses, which will be valued at more than $50 million. As of July 1, 2021, David Lonsdale will be resigning as Chief Executive Officer of CanaFarma Hemp Products effective August 15, 2021, as soon as the transaction is completed. As of July 12, 2021, CanaFarma Hemp Products Corp. intends to complete a non-brokered private placement to raise approximately CAD 5 million through the issuance of approximately 32,051,282 units at an issue price of CAD 0.156 per Unit. CanaFarma intends to use the proceeds from the Private Placement to provide a working capital loan to Vertical Wellness, Inc. As of October 1, 2021, the transaction is expected to within a month.