CFN Enterprises Inc. and Innovation Shares LLC Announce Strategic Venture to Unlock Long-Term Value and Capitalize on Future Growth Opportunities
The Cannabis ETF Index Provider to Become CFN Media's Exclusive ETF Partner
Whitefish, Montana–(Newsfile Corp. – November 30, 2020) – CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, and Innovation Shares LLC, the index provider to the NYSE-listed exchange-traded fund, The Cannabis ETF (NYSE: THCX), today signed a letter of intent to form a strategic partnership and unlock value in cannabis, CBD, psychedelics and other highly-regulated industries worldwide.
Under the terms of the proposed agreement, CFN Enterprises will acquire a 10% stake in Innovation Shares LLC-the driving force behind the THCX ETF-and Innovation Shares will become CFN Media's exclusive ETF partner. The two companies aim to form a new joint venture to provide mission-critical services across digital platforms to private, pre-public and public companies in the cannabis, CBD, psychedelics, and other highly regulated industries worldwide.
"CFN Media has become one of the most trusted names in the cannabis media space over the past decade and has already replicated its success in the nascent psychedelics space," said Matt Markiewicz, Managing Director of Innovation Shares. "As the exclusive ETF partner for its growing network of web and mobile properties, we aim to grow our existing assets under management and address other high-growth industries."
"Innovation Shares has built one of the most iconic ETF brands in the cannabis industry and it's an ideal match for our audience," said CFN Media President Frank Lane. "This partnership will usher in our next phase of growth as we further monetize the audience we have built up over the past decade and continue to build out products and services that address the pressing challenges facing highly-regulated industries worldwide."
The Cannabis ETF (NYSE: THCX) was constructed to make investing in cannabis easier by helping investors get exposure to a basket of stocks that are expected to benefit from growth of the hemp and legal marijuana industries. The global cannabis market is estimated to reach $630 billion by 2040 up from $12 billion today, according to a report from Seaport Global Securities (February 21, 2019).
"The cannabis industry is poised to see accelerated growth in 2021 and beyond as an increased number of states legalize medical and adult-use cannabis," added Mr. Markiewicz,. "In addition, there are signs that the psychedelics industry is moving in the same direction with the pending legalization of medical psilocybin in Oregon and decriminalization in Washington D.C. and other U.S. cities, which is starting a new national dialogue."
The letter of intent and proposed agreement are subject to satisfactory completion of due diligence, the negotiation and execution of definitive documentation, and other factors. There are no assurances that the strategic partnership will occur.
About Innovation Shares LLC
Innovation Shares builds cutting-edge portfolios around growing and disruptive thematic investment trends. The true innovation behind its strategy is the AI powered natural language processing algorithm used to help identify sentiment around themes and relevant stocks. For more information, please visit www.thcxetf.com.
About CFN Enterprises Inc.
CFN Enterprises Inc. (OTCQB: CNFN) is a digital media and ecommerce company focused on advancing businesses and brands in highly regulated emerging industries across the globe. CFN connects investors with new market opportunities while helping consumers find innovative products that enhance their lives. Learn more at www.cfnenterprisesinc.com.
CFN Enterprises Inc. Media Contact:
CFN Enterprises Inc.
+001 (833) 420-CNFN
This press release may contain forward-looking statements from CFN Enterprises Inc. within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and federal securities laws. For example, when CFN Enterprises Inc. describes the letter of intent, the proposed agreement and the benefits of the strategic partnership with Innovation Shares, growth in the cannabis and psychedelics markets, and uses other statements containing the words "believes," "anticipates," "plans," "expects," "will" and similar expressions, CFN Enterprises Inc. is using forward-looking statements. These forward-looking statements are based on the current expectations of the management of CFN Enterprises Inc. only, and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: regulatory and licensing risks; changes in general economic, business and political conditions, including changes in the financial markets; the regulatory landscape and enforcement related to cannabis, including political risks and risks relating to regulatory change; changes in applicable laws; compliance with extensive government regulation; public opinion and perception of the cannabis industry; we may be unable to retain or attract key employees whose knowledge is essential to the development of our products and services; or, loss of market share and pressure on pricing resulting from competition, which could cause the actual results or performance of CFN Enterprises Inc. to differ materially from those contemplated in such forward-looking statements. Except as otherwise required by law, CFN Enterprises Inc. undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. For a more detailed description of the risk and uncertainties affecting CFN Enterprises Inc., reference is made to CFN Enterprises Inc.'s reports filed from time to time with the Securities and Exchange Commission.
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