
("World High Life" or the "Company")
Deferred Consideration and Issue of Equity
On
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·
Pursuant to the Initial Terms, the Company was required either to pay the Sellers
· 22,222,222 Ordinary Shares ("First Deferred Payment Shares") shall be issued and allotted to the Sellers on
o the termination of the relevant Seller's employment contract or any extension thereof;
o the date three days before the closing date of the sale of the Seller's ordinary shares to a third party purchaser; or
o at the request of the Seller, on the closing date of the sale or merger of the Company which results in new shareholders owning more than 51 per cent of the entire issued share capital of the Company
·
As announced by the Company on
In addition, the Company has today issued and allotted 680,778 Ordinary Shares to certain advisers in settlement of fees at a price per share of 7.3p ("Adviser Shares")
Application will be made for the First Deferred Payment Shares, the Conversion Shares and the Adviser Shares to be admitted to trading on the AQSE Growth Market and admission is expected to become effective on
Following the issue of the First Deferred Payment Shares, the Conversion Shares and the Adviser Shares, the Company has 192,005,534 Ordinary Shares in issue, each share carrying the right to one vote. The figure of 192,005,534 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.
The Directors of the Company accept responsibility for the contents of this announcement.
About Love Hemp
Love Hemp is one of the
About World High Life
World High Life was established by the founders of Supreme Cannabis (TSX: FIRE), and 1933 Industries (CSE: TGIF), both companies at the forefront of the legalized cannabis industry. LIFE was established to take advantage of the huge opportunities available in the
For further information please contact:
Founder & CEO +44 (0) 7926 397 675 |
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AQSE Exchange Corporate Adviser +44 (0) 20 7469 0930 |
Financial PR Blytheweigh +44 (0) 20 7138 3222 |
For more information on World High Life please visit: www.wordhighlife.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
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.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.
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1 |
Details of the person discharging managerial responsibilities / person closely associated |
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a) |
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2 |
Reason for the notification |
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a) |
Position/status |
Managing Director, |
b)
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Initial notification /Amendment |
Amendment |
3
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Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
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b) |
LEI |
213800ERYVHIGFSPMM75 |
4
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Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted |
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a)
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Description of the financial instrument, type of instrument Identification code |
Ordinary Shares of
ISIN: GB00BMDY1P48 |
b) |
Nature of the transaction |
Deferred consideration |
c) |
Price(s) and volume(s) |
Price (p) 9p per share Number of Ordinary Shares: 10,000,000
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d) |
Aggregated information - Aggregated volume - Price |
Issuance of 10,000,000 Ordinary Shares at 9p per share at an aggregate value of
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e) |
Date of the transaction |
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f) |
Place of the transaction |
AQSE Growth Market (AQSE) |
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.
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1 |
Details of the person discharging managerial responsibilities / person closely associated |
|
a) |
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2 |
Reason for the notification |
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a) |
Position/status |
Chief Operating Officer, |
b)
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Initial notification /Amendment |
Amendment |
3
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Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|
a) |
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b) |
LEI |
213800ERYVHIGFSPMM75 |
4
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Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted |
|
a)
|
Description of the financial instrument, type of instrument Identification code |
Ordinary Shares of
ISIN: GB00BMDY1P48 |
b) |
Nature of the transaction |
Deferred consideration |
c) |
Price(s) and volume(s) |
Price (p) 9p per share Number of Ordinary Shares: 10,000,000
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d) |
Aggregated information - Aggregated volume - Price |
Issuance of 10,000,000 Ordinary Shares at 9p per share at an aggregate value of
|
e) |
Date of the transaction |
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f) |
Place of the transaction |
AQSE Growth Market (AQSE) |
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