Love Hemp Group PLC (AQSE: LIFE) (OTCQB: WRHLF ), one of the UK's leading CBD and hemp product suppliers, is pleased to announce that the Broker Option (the "Broker Option") granted to Peterhouse Capital Limited ("Peterhouse") in connection with the placing and subscription announced by the Company on 8 April 2021 (the "Fundraise"), closed to applications at 17.00 on 9 April 2021.


The Broker Option was significantly oversubscribed and has been exercised in respect of 57,650,428 ordinary shares of 1p each in the Company ("Ordinary Shares"), an increase of approximately 100% on the number of Ordinary Shares originally subject to the Broker Option. Peterhouse, in consultation with the Company, has therefore determined that all valid applications under the Broker Option will be allocated in full and counterparties will be notified accordingly.


Exercise of the Broker Option will raise a further £2,017,765 for the Company, taking the total amount raised by the Company in the Fundraise to £7,042,765 (gross of expenses).


The proceeds of the Fundraise will be applied towards the Company's new global marketing programme, which will be implemented across the UK and US and includes a partnership with UFC (Ultimate Fighting Championship) as announced on 16 March 2021, as well as for general corporate purposes.

Andrew Male, Chairman of Love Hemp Group, commented: "Following a successful initial fundraise, the continued investor interest highlights the strength of the Company and its investment thesis. Love Hemp Group has a strong marketing programme and these funds will help promote the brand globally. I look forward to seeing the Company continue to move from strength to strength." 

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