HempFusion Wellness Inc. (company) announced that it will not be proceeding 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.