Love Hemp Group PLC Announces Warrant Exercise and Issue of Equity

Rhea-AI Summary

Love Hemp Group PLC (OTCQB: WRHLF) announced the issuance of 46,317,979 ordinary shares, comprised of 6,022,580 shares through warrant exercises and 40,295,399 shares related to various agreements, including a deal with 258 Marketing Limited and Anthony Joshua. The proceeds from the warrant exercise totaled £61,129, designated for general working capital. The company's total shares in circulation will now be 875,463,167. Furthermore, new warrants for 1,082,571 shares with an exercise price of 3.5 pence will be available until May 28, 2023.

Positive

• Issuance of 46,317,979 shares strengthens capital structure.
• Warrant exercise totalled £61,129 for working capital use.

Negative

• Dilution of existing shareholders due to a significant increase in share count.
• Relatively low cash proceeds from warrant exercise may not significantly impact financial position.

Warrant Exercise, Issue of Equity and Issue of Warrants

LONDON, UK / ACCESSWIRE / November 23, 2021 / Love Hemp Group PLC (AQSE:LIFE) (OTCQB:WRHLF), the brand-led consumer goods company focussed on CBD health and wellness solutions, announces that it has issued a total of 46,317,979 ordinary shares of one pence each in the Company ("Ordinary Shares") as follows:

• 6,022,580 Ordinary Shares pursuant to the exercise of Warrants
• 40,295,399 Ordinary Shares pursuant to consulting, advisory and licensing agreements, including shares issued to 258 Marketing Limited as the first instalment of the contractual agreement with Anthony Joshua

The cash proceeds from the Warrant exercise amount to £61,129 and will be used for general working capital purposes.

Application will be made for the Ordinary Shares to be admitted to trading on the AQSE Growth Market and admission is expected to become effective, and dealings in the Ordinary Shares are expected to commence, on Friday, 26 November 2021.

Following these issues, the Company has 875,463,167 Ordinary Shares in issue, each share carrying the right to one vote. The figure of 875,463,167 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.

In addition, the Company has issued Warrants to subscribe for 1,082,571 Ordinary Shares, with an expiry date of 28 May 2023 and an exercise price of 3.5 pence per share.

-ENDS-

For further information please visit: www.lovehempgroup.com or contact:

Love Hemp Group Andrew Male Chairman & Director Anna Legge Chief Communications Officer	+44 (0) 7926 397 675 andrew.male@lovehempgroup.com +44 (0) 7500 773 415 anna.legge@lovehempgroup.com
Financial Advisor Rupert Fane H&P Advisory Limited	+44 (0) 20 7907 8500 rf@hannam.partners
AQSE Corporate Adviser Mark Anwyl Peterhouse Capital Limited	+44 (0) 20 7469 0930 ma@peterhousecap.com
Financial PR Tim Blythe/Alice McLaren/Madeleine Gordon-Foxwell Blytheweigh	+44 (0) 207 138 3204 lovehemp@blytheweigh.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

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/674300/Love-Hemp-Group-PLC-Announces-Warrant-Exercise-and-Issue-of-Equity

FAQ

What is the recent announcement from Love Hemp Group regarding shares?

Love Hemp Group announced the issuance of 46,317,979 ordinary shares, with part of this from warrant exercises and consulting agreements.

How many shares does Love Hemp Group have after the recent issuance?

Following the issuance, Love Hemp Group has a total of 875,463,167 ordinary shares outstanding.

What are the financial implications of the recent share issuance for WRHLF shareholders?

The issuance of new shares may dilute existing shareholders' ownership while providing additional capital for the company.

What is the exercise price and expiration date for the new warrants issued by Love Hemp Group?

The new warrants have an exercise price of 3.5 pence per share and expire on May 28, 2023.

What will the proceeds from the warrant exercise be used for?

The proceeds amounting to £61,129 will be utilized for general working capital purposes.