Love Hemp Group PLC Announces Issue of Equity
Love Hemp Group PLC (AQSE:LIFE)(OTCQB:WRHLF) has announced the issuance of 390,480 Ordinary Shares at a price of 2 pence each, totaling £7,809.60, in exchange for professional services. The company's total shares outstanding now stands at 1,322,995,111. Shares will be admitted for trading once the current suspension is lifted. Discussions are ongoing with a potential new AQSE Corporate Adviser to facilitate this. Love Hemp Group focuses on CBD health and wellness solutions and has over 40 products available in major UK retailers.
- Issuance of 390,480 Ordinary Shares for professional services at a price of 2 pence each, totaling £7,809.60.
- Total shares outstanding increased to 1,322,995,111, potentially increasing capital.
- Shares are currently suspended from trading, indicating potential liquidity issues.
- Need for a new AQSE Corporate Adviser suggests prior advisory relationships may have changed or ended.
LONDON, UK / ACCESSWIRE / August 23, 2022 / Love Hemp Group PLC (AQSE:LIFE)(OTCQB:WRHLF), the brand-led consumer goods company focused on CBD health and wellness solutions, announces the issue of equity by the Company.
The Company has issued 390,480 Ordinary Shares to Mason Media Limited of 1 pence each in the Company ("Ordinary Shares") at a price of 2 pence per share, in lieu of professional services provided, for a total value of £7,809.60. Application will be made for these shares to be admitted to trading, subject to the suspension in the Company's shares being lifted.
Following this issue, the Company has 1,322,995,111 Ordinary Shares in issue, each share carrying the right to one vote. This figure 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 Guidance and Transparency Rules.
Trading suspension update
The Company remains in discussions with a potential new AQSE Corporate Adviser to enable the trading suspension to be lifted.
For further information please visit: www.lovehempgroup.com or contact:
Love Hemp Group +44 (0) 203 968 6643
Tony Calamita investor.relations@lovehempgroup.com
About Love Hemp Group
Love Hemp Group is a brand-led consumer goods company focussed on health and wellness solutions for consumer use cases including sleep, pain, anxiety, stress and recovery. The Company is a pioneer in the UK-based premium high-quality CBD market, with over 40 products including oils, edibles, sprays, cosmetics and topicals. The Company's range of products are sold online across 70 websites and in over 2,000 stores including some of the biggest retailers in the UK, such as Holland & Barrett, Boots and Ocado. Listed on the Aquis Stock Exchange (AQSE: LIFE) the Company recently changed its name to Love Hemp Group plc, from World High Life, to better reflect its focus on supporting the "best in class" CBD brand as it embarks on a wider expansion of its core business and offering.
Market Abuse Regulation (MAR) Disclosure
This 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
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https://www.accesswire.com/713175/Love-Hemp-Group-PLC-Announces-Issue-of-Equity
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