Love Hemp Group PLC Announces Directorate Changes and Trading Suspension Update

LONDON, UK / ACCESSWIRE / July 8, 2022 / Love Hemp Group PLC (AQSE:LIFE)(OTCQB:WRHLF) the brand-led consumer goods company focussed on CBD health and wellness solutions, gives an update regarding its Board and Management changes and the suspension of trading on the AQSE Growth Market which took place on 3 May 2022.

Board and Management changes

As part of its ongoing internal review, the Company has decided to make a number of changes with immediate effect. The Company has eliminated the role of Executive Chairman presently held by Andrew Male. Graham Mullis has agreed to move from Independent Non-Executive Director to Non-Executive Chairman. Andrew Male will take up a new role as a Non-Executive Director.

The Board has also accepted the resignation of Garry Cook and we wish him well in his future endeavours. In his place, the Board has appointed Anthony Dyer, an FCCA qualified, experienced Euronext and AIM listed CFO/director who will chair the Audit Committee.

The senior management team has also been strengthened with the appointment of an interim Managing Director reporting to Tony Calamita, CEO. The Company continues a search for a third independent non-executive director as well as a permanent CFO.

Commenting on the Board changes, Graham Mullis, Non-Executive Chairman said:

"I am excited by the opportunity that exists for Love Hemp and pleased to accept this appointment. These Board and Management changes will help the Company move forward and maximise its opportunities. Our initial goals are to satisfy the requirements for the AQSE Growth Market and to continue to strengthen the performance and structure of the Company. The Company is currently completing the operational restructure, announced on the 31 March 2022, and is considering its long-term objectives to create shareholder value."

Update on suspension of trading

Trading in the Company's shares was suspended on 3 May 2022 following the resignation of the Company's AQSE Corporate Adviser. The Company has commenced discussions with a proposed new AQSE Corporate Adviser to enable the suspension to be lifted and it will further update shareholders in due course.

-ENDS-

For further information please visit: www.lovehempgroup.com or contact:

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 UK-based premium high-quality CBD market, with over 40 products including oils, edibles, sprays, cosmetics and topicals. The Company's range of products are sold online across 70 websites and in over 2,000 stores including some of the biggest retailers in the UK, such as Holland & Barrett, Boots and Ocado. Listed on the Aquis Stock Exchange (AQSE: LIFE) the Company recently changed its name to Love Hemp Group plc, from World High Life, to better reflect its focus on supporting the "best in class" CBD brand as it embarks on a wider expansion of its core business and offering.

Market Abuse Regulation (MAR) Disclosure

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

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SOURCE: Love Hemp Group PLC