Love Hemp Group PLC Announces Exercise of Warrants and Issue of Equity
Love Hemp Group PLC (OTCQB: WRHLF), a leading UK CBD supplier, announced the exercise of warrants resulting in the issuance of 34,814,285 new ordinary shares at a price of 1 pence each, raising £348,142 for general working capital. The new shares will be admitted to trading on the AQSE Growth Market, effective 21 May 2021. Following this issuance, the total number of ordinary shares will be 733,902,331. Shareholders should use this number to calculate their interests under the Disclosure and Transparency Rules.
- Raised £348,142 through the exercise of warrants.
- Expanded ordinary shares outstanding to 733,902,331, enhancing liquidity.
- None.
Love Hemp Group PLC ("Love Hemp" or the "Company") (Formerly World High Life PLC) Exercise of Warrants and Issue of Equity
LONDON, UK / ACCESSWIRE / May 17, 2021 / Love Hemp Group PLC (AQSE:LIFE) (OTCQB:WRHLF), one of the UK's leading CBD and Hemp product suppliers, announces that it has received notifications from warrant holders to exercise warrants over 34,814,285 new ordinary shares of 1 pence each in the share capital of the Company (the 'New Ordinary Shares') at a price of 1 pence per share. Accordingly, the Company has today issued the New Ordinary Shares to the warrant holders for aggregate cash proceeds of £348,142. The proceeds will be used for general working capital purposes.
Application will be made for the New Ordinary Shares to be admitted to trading on the AQSE Growth Market and admission is expected to become effective, and dealings in the New Ordinary Shares are expected to commence, on 21 May 2021.
Following this issue, the Company has 733,902,331 Ordinary Shares in issue, each share carrying the right to one vote. The figure of 733,902,331 should be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.
The Directors of the Company accept responsibility for the contents of this announcement.
For further information please contact:
Andrew Male | |
AQSE Corporate Adviser | Financial PR |
Financial Advisor
Rupert Fane
H&P Advisory Limited
+44 (0) 20 7907 8500
rf@hannam.partners
For more information on Love Hemp Group please visit: www.lovehempgroup.com
About Love Hemp Group
The Company, previously World High Life plc, was incorporated on 30 January 2019 as an Investment Vehicle. Originally intended to identify opportunities in the CBD and Medicinal Cannabis space, it quickly acquired Love Hemp Ltd., the UK's most recognisable CBD brand. The listed company recently changed its name to Love Hemp Group plc as part of its evolving strategy to purely focus on supporting the "best in class" CBD brand as it embarks on a wider expansion of its core business and offering.
Love Hemp produces and supplies more than 40 product lines, comprising of 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.
Market Abuse Regulation (MAR) Disclosure
The information contained within this announcement is deemed by the Company to constitute inside information. Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
SOURCE: Love Hemp Group PLC
View source version on accesswire.com:
https://www.accesswire.com/647717/Love-Hemp-Group-PLC-Announces-Exercise-of-Warrants-and-Issue-of-Equity
FAQ
What is the significance of Love Hemp Group's recent warrant exercise?
When will the new ordinary shares be available for trading?
How many ordinary shares are currently outstanding for Love Hemp Group?
