Exercise of Warrants and Issue of Equity17 May 2021 15:58
Love Hemp Group PLC (AQSE: LIFE) (OTCQB: WRHLF), one of the UK's leading CBD and Hemp product suppliers, announces that it has received notifications from warrant holders to exercise warrants over 34,814,285 new ordinary shares of 1 pence each in the share capital of the Company (the 'New Ordinary Shares') at a price of 1 pence per share. Accordingly, the Company has today issued the New Ordinary Shares to the warrant holders for aggregate cash proceeds of £348,142. The proceeds will be used for general working capital purposes.
Application will be made for the New Ordinary Shares to be admitted to trading on the AQSE Growth Market and admission is expected to become effective, and dealings in the New Ordinary Shares are expected to commence, on 21 May 2021.
Following this issue, the Company has 733,902,331 Ordinary Shares in issue, each share carrying the right to one vote. The figure of 733,902,331 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.
The Directors of the Company accept responsibility for the contents of this announcement.