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Love Hemp Group PLC Announces Issue of Warrants and Issue of Equity
Issue of warrants
The Company has issued 15,746,325 warrants with an exercise price of 3.5 pence per warrant which vest immediately and expire on 12 April 2023. These warrants have been issued in connection with the recent fundraisings completed by the Company.
Issue of equity
The Company has allotted 11,400,000 new Ordinary Shares of 1 pence each in the Company ( New Ordinary Shares ) at a price of 3.5 pence per share, in lieu of debt repayments and for services, for a total value of £399,000.
Further, the Company has received notifications from warrant holders to exercise warrants over an additional 16,700,000 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 £167,000.