LONDON, ENGLAND / ACCESSWIRE / June 9, 2021 / Love Hemp Group PLC (AQSE: LIFE) (OTCQB: WRHLF), a leading supplier of CBD and hemp products to the UK, announces the issuance of warrants and shares by the company.
Issuance of warrants
The Company has issued 15,746,325 warrants with an exercise price of 3.5 pence per warrant which vest immediately and expire on April 12, 2023. These warrants were issued in connection with recent fundraising activities carried out by the Company.
The Company allotted 11,400,000 new Ordinary Shares of 1 pence each in the Company (âNew Ordinary Sharesâ) at a price of 3.5 pence per share, in lieu of debt repayments and services, for a total value of 399 Â£ 000.
In addition, the Company has received notifications from warrant holders to exercise warrants on an additional 16,700,000 New Ordinary Shares at a price of 1 pence per share. As a result, the Company today issued the New Ordinary Shares to warrant holders for total cash proceeds of Â£ 167,000.
The proceeds of the above will be used for general working capital purposes.
An application will be made for the New Ordinary Shares to be admitted to trading on the AQSE Growth Market and admission is expected to take effect, and trading in the New Ordinary Shares is expected to begin on June 15, 2021.
Following this issue, the Company has 829,145,188 Ordinary Shares in circulation, each share giving the right to one vote. The figure of 829,145,188 should be used by the shareholders of the Company as the denominator for the calculations by which they will determine whether they are required to notify their interest or a change of their interest in the Company under the statement of the Financial Conduct Authority and Transparency Rules.
The Directors of the Company accept responsibility for the content of this announcement.
For more information, please contact:
President & Administrator
+44 (0) 7926 397 675
Financial public relations
Madeleine Gordon Foxwell
+44 (0) 207 138 3205
H&P Consulting Limited
+44 (0) 20 7907 8500
For more information on Love Hemp Group, please visit: www.lovehempgroup.com
About the Love Hemp group
The Company, formerly World High Life plc, was incorporated on January 30, 2019 as an investment vehicle. Initially aimed at identifying opportunities in the field of CBD and medicinal cannabis, he quickly acquired Love Hemp Ltd., the UK’s most recognizable brand of CBD. The publicly traded company recently changed its name to Love Hemp Group plc as part of its scalable strategy to focus solely on supporting the ‘best in class’ CBD brand as it embarks on expansion broader of its main activity and its offer.
Love Hemp produces and supplies over 40 product lines, including oils, sprays and tinctures and a variety of edible and water-based CBD products. Love Hemp has established relationships with over 2,000 stores in the UK, including leading retailers such as Sainsbury’s, Boots, Ocado and Holland & Barrett.
Disclosure of Market Abuse Regulation (MAR)
The information contained in this press release is considered by the Company to constitute inside information. As soon as this announcement is published via a Regulatory Information Service, this inside information is now considered to be in the public domain.
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SOURCE: Love Hemp Group PLC
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