Love Hemp Group PLC Announces Update to Announcement of 9 May 2022
Love Hemp Group PLC (AQSE:LIFE)(OTCQB:WRHLF) clarified a prior announcement regarding the resignation of Peterhouse Capital Limited as its AQSE Corporate Adviser. The original announcement inaccurately stated the resignation occurred after the failure of an investor to complete a £1.2 million investment. Love Hemp asserts that Peterhouse had resigned before this update. The investor was part of a subscription, not a placing, which influences their obligation to notify changes in interest under the Financial Conduct Authority's rules.
- Clarification on the resignation of the corporate adviser may enhance transparency for shareholders.
- Investor's failure to complete a £1.2 million investment raises concerns over fundraising efforts.
LONDON, UK / ACCESSWIRE / May 13, 2022 / Love Hemp Group PLC (AQSE:LIFE)(OTCQB:WRHLF), the brand-led consumer goods company focused on CBD health and wellness solutions, provides a further update at the request of Peterhouse Capital Limited ("Peterhouse").
The announcement released by Love Hemp on 9 May 2022 incorrectly stated that Peterhouse Capital Limited ("Peterhouse") had resigned as the Company's AQSE Corporate Adviser "following the update by the Company that an investor in the February 2022 placing had failed to complete their investment of £1.2 million."
Love Hemp wishes to clarify that Peterhouse in fact resigned as the Company's AQSE Corporate Adviser before the release of the Company's update on 3 May 2022 and that the investor who failed to complete their investment of £1.2 million was a participant in the subscription, not the placing 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.
For further information please visit: www.lovehempgroup.com or contact:
Love Hemp Group Andrew Male | +44 (0) 7926 397 675 |
Financial Advisor Rupert Fane H&P Advisory Limited | +44 (0) 20 7907 8500 |
Financial PR Tim Blythe/Alice McLaren/Madeleine Gordon-Foxwell BlytheRay | +44 (0) 207 138 3204 |
About Love Hemp Group
Love Hemp Group is a brand-led consumer goods company focused 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
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.
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SOURCE: Love Hemp Group PLC
View source version on accesswire.com:
https://www.accesswire.com/701301/Love-Hemp-Group-PLC-Announces-Update-to-Announcement-of-9-May-2022
FAQ
What did Love Hemp Group announce on May 13, 2022 regarding Peterhouse Capital Limited?
What was the cause of the confusion in the previous Love Hemp announcement from May 9, 2022?
How does the resignation of Peterhouse Capital Limited impact Love Hemp Group?
