Love Hemp Reports 57% Growth in July 2020
RNS Number : 5107W
World High Life PLC
19 August 2020
 

19 August 2020

 

World High Life PLC

 ("World High Life" or the "Company")

LOVE HEMP REPORTS 57% GROWTH IN JULY 2020

World High Life Plc (AQSE: LIFE) (OTCQB: WRHLF) is pleased to announce that its wholly owned subsidiary, London-based CBD brand, Love Hemp Limited ("Love Hemp") reports a 57% growth in sales in July 2020 over June 2020.

"The wellness industry isn't showing any signs of slowing down. What we have witnessed is an increased consumption of CBD during the pandemic, and we expect this to continue post-Covid. We believe that people who continue to feel anxious or have trouble sleeping and are increasingly turning to more natural health and wellness solutions to add to their self-care routines," says Tony Calamita, CEO at Love Hemp. 

Love Hemp Growth Highlights

·          57% increase in sales in July 2020 across online, retail and wholesale compared to June 2020

·          Online sales remain significantly higher than pre-Covid levels, with this channel making up 62% of sales in July 2020 compared with 40% of sales in January 2020  

·          Continued growth highlights the success of the brand strategy, with Love Hemp focused on building an accessible and supportive brand that is destigmatising CBD consumption while demystifying CBD in the UK

"As the government takes steps to stimulate the economy and lift consumer sentiment, we are seeing a welcome boost for physical store sales. At the same time, our online sales remain well above pre-pandemic levels, cementing the importance of our eCommerce strategy in underpinning brand experience," adds Mr. Calamita.  

For further information please contact:

David Stadnyk

Founder & CEO

North America: 1 (236) 521-7211  

North America toll-free: 1 (888) 616-WRHLF (9745)

+44 (0) 7926 397 675

info@worldhighlife.uk

 

 

 

 

AQSE Corporate Adviser

Mark Anwyl/Allie Feuerlein

Peterhouse Capital Limited

+44 (0) 20 7469 0930

ma@peterhousecap.com

af@peterhousecap.com

Financial PR

Camilla Horsfall/Megan Ray

Blytheweigh

+44 (0) 20 7138 3224

Camilla.horsfall@blytheweigh.com

Megan.Ray@blytheweigh.com

 

 

For more information on World High Life please visit:      www.worldhighlife.uk

 

Market Abuse Regulation (MAR) Disclosure

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

 

Cautionary Note Regarding Forward Looking Information

We seek safe harbour. Some statements contained in this news release are "forward looking information" within the meaning of securities laws. Forward looking information include, but are not limited to, statements regarding the use of proceeds of the non-brokered private placement and payment of the debt settlements. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes" or variations of such words and phrases (including negative or grammatical variations) or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof. Investors are cautioned that forward-looking information is inherently uncertain and involves risks, assumptions and uncertainties that could cause actual results to differ materially. There can be no assurance that future developments affecting the Company will be those anticipated by management. The forward-looking information contained in this press release constitutes management's current estimates, as of the date of this press release, with respect to the matters covered thereby. We expect that these estimates will change as new information is received. We do not undertake to update any estimate at any particular time or in response to any particular event, except as required by law.


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