First Day of Dealings for UK Cannabis Investment Company
LONDON, Sept. 12, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- World High Life Plc (NEX: LIFE), a CBD and medicinal cannabis investment vehicle, is pleased to announce that trading in its Ordinary Shares will commence at 8.00 a.m. today on the NEX Exchange Growth Market (“Admission”), under ticker LIFE and ISIN number GB00BK777P75. The Company will look to identify investment opportunities in the medicinal cannabis, hemp and CBD sectors globally with a particular interest in the UK and European markets.
The Company’s investment strategy will focus on markets that are internationally recognised as having well-developed and reputable laws and regulations relating to the research and production of medicinal cannabis, hemp and CBD, as well as therapeutic Cannabis derivatives including but not limited to nutraceuticals, dietary supplements and cosmetic products. The Directors believe that there are numerous investment opportunities within the CBD wellness industry, the hemp industry and the medicinal cannabis industry.
· On Admission the Company will have raised £2.4 million and will have 110,398,091 Ordinary Shares in issue.
· The Company will undertake due diligence on investment opportunities encompassing the breadth of the medicinal cannabis, hemp and CBD Sectors.
· The Board will continue to monitor the global deregulation of medicinal cannabis with a particular focus on Europe to ensure the Company is best placed to take advantage once deregulation occurs.
· The Directors have over 30 years’ experience on TSX, CSE and OTC public markets and intend to replicate proven models from their success with North American cannabis companies.
· Funds initially available to the Company will be used to meet general working capital requirements, undertake due diligence on potential target acquisitions and to make investments in accordance with the investment guidelines described above.
· The Global CBD market is set to increase from $270 million in 2018 to $3.86 billion by 2025, with the global medical cannabis market forecast to reach $148.35 billion by 2026.
Management with a Strong Track of Generating Returns to Investors
World High Life was established by the Founders of Supreme Cannabis and 1933 Industries. Both companies are at the forefront of the legalised cannabis landscape in North America.
David Stadnyk – Chairman and Chief Executive Officer (Aged 56)
David is the founder and senior partner of Stadnyk & Partners, a venture capital investment firm focused on small cap companies in the resources, biotech and pharmaceuticals sectors, headquartered in Vancouver. He has over 30 years’ experience of founding and developing both public and private companies.
David has been at the forefront of the cannabis sector in Canada since 2012 and was a key contributor to the Marijuana for Medical Purposes Regulations which were in place between 2013 and 2016. He has been involved with a number of companies in the space including The Supreme Cannabis Company, 1933 Industries, FSD Pharma and Weekend Unlimited.
David previously owned the Vancouver Whitecaps soccer club and is a co-founder of the TSN 1040 Sports Radio Station in Vancouver. He serves as Chair of the Stadnyk Foundation, a not-for-profit society established to recognize and promote sport philanthropy among athletes, coaches and executives.
Robert Payment – Chief Financial Officer (Aged 37)
Robert is a Chartered Professional Accountant with 12 years’ experience in finance, reporting, regulatory requirements, public company administration, equity markets, and financing of publicly traded companies. He commenced his career in private practise and since 2014 he has served as a consultant for a number of TSX Venture Exchange and Canadian Securities Exchange (CSE) listed companies.
Robert has extensive experience in the cannabis, manufacturing, natural resource, and retail industries. He received a BBA from Simon Fraser University and is a member in good standing of the Chartered Professional Accountants of British Columbia.
Kevin Ernst – Non-Executive Director (Aged 55)
Kevin has over 30 years’ experience in the investment banking industry having started his career in wealth management with Merrill Lynch and then UBS before spending nine years at the New York Stock Exchange with responsibility for over 150 listings of North American and Asia-Pacific companies. Kevin is currently a partner in a Toronto based private equity group that specialises in strategic advisory and investments into private technology and healthcare companies.
Kevin holds both an Economics degree and an MBA from Rutgers University as well as NASD securities licences.
Charles (Charlie) Lamb – Independent Non- Executive Director (Aged 37)
Charlie has over 10 years of experience working as a Canadian corporate and securities lawyer at a large international law firm in New York. With extensive cross-border corporate and securities law experience, Charlie has worked on numerous corporate transactions, including mergers and acquisitions, public and private offerings of securities for investment funds, private equity funds and other alternative investment vehicles in the Canadian markets. He also has significant experience advising broker dealers, advisers and investment fund managers on Canadian compliance issues.
Charlie graduated from the University of Victoria, British Columbia and is a member of the Law Society of Upper Canada, The Canadian Bar Association and the American Bar Association. He has resided in New York since 2009.
David Stadnyk, Chairman and Chief Executive Officer commented:
“We are delighted to be trading on the NEX Exchange today. This is an exciting time for the Company and for the medical cannabis and CBD sector in Europe, with many forecasting huge growth over the next few years.
“I have a strong team around me, many of whom have years of experience and much success investing in the cannabis market in North America. We believe that there are numerous investment opportunities here in Europe that will generate great returns for our shareholders, and we look forward to updating the market with our developments.”
For further information please contact:
Founder & CEO
World High Life
+44 (0) 7926 397 675
NEX Exchange Corporate Adviser
Mark Anwyl/ Allie Feuerlein
Peterhouse Capital Limited
+44 (0) 20 7469 0930
Camilla Horsfall/ Julia Tilley
+44 (0) 20 7138 3224
For more information on World High Life please visit: www.worldhighlife.uk
Forward Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management’s current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “predicts”, “intends”, “targets”, “aims”, “anticipates” or “believes” or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.