3 May 2022
Love Hemp Group PLC
("Love Hemp", the "Group", or the "Company")
Update Regarding Suspension and February 2022 Fundraise
Love Hemp Group PLC (AQSE: LIFE) (OTCQB: WRHLF), the brand-led consumer goods company focussed on CBD health and wellness solutions, announces that the Aquis Exchange this morning temporarily suspended the trading in shares of Love Hemp.
The reason for the suspension is that Peterhouse Capital Limited have resigned as Advisors to the Company. The Company is presently in discussions to appoint a new Advisor and expects to announce new advisors shortly.
The Company also announces that one of the investors in the subscription announced on 8 February 2022 has failed to make payment for the ordinary shares of
The investor originally subscribed
These Ordinary Shares will be cancelled, and the revised issued share capital of the Company will be announced once cancellation is complete. Presently the Company is looking at the most cost effective and efficient way to affect the cancellation.
This shortfall in the fundraise has not impacted the operations of the Company following the recent restructuring and the Board of Directors is satisfied that the Company continues to have sufficient working capital for its present requirements.
Love Hemp continues to improve and streamline its operations and will issue an update about its strategy and operational review, including a timing update on the planned move to the main market, in the near future.
For further information please visit: www.lovehempgroup.com or contact:
Love Hemp Group
+44 (0) 7926 397 675
Tim Blythe/Madeleine Gordon-Foxwell
+44 (0) 207 138 3204
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
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.