Early Stage Investment in CBD and Medicinal Cannabis Builds Momentum with First Acquisition Agreement
VANCOUVER, BC / ACCESSWIRE / September 23, 2019 / Codebase Ventures Inc. (“Codebase” or the “Company”) (CSE: CODE – FSE: C5B – OTCQB: BKLLF), an investment company, is providing an update related to the Company’s strategic investment in World High Life PLC (London NEX: LIFE), an investment company focused on CBD wellness and medicinal cannabis in the UK and Europe, by its subsidiary, Code Cannabis Investments.
World High Life, now publicly trading on the NEX Exchange, has announced the execution of an agreement to acquire Love Hemp Ltd. (“Love Hemp”), the UK’s number one supplier of CBD and hemp products, for a minimum price of £9 million. The proposed transaction will provide Love Hemp with the resources to rapidly expand its UK and European presence and help World High Life cement its position as a leading medicinal cannabis and CBD company in the fast-growing European space.
World High Life Highlights:
- World High Life plans to acquire Love Hemp for £9 million
- Love Hemp is a London-based supplier of a range of CBD and hemp products
- Distribution agreements already in place with UK supermarkets and health food stores
Love Hemp is the UK’s number one CBD and hemp product supplier with over 40 sku’s of oils, sprays and vapes and a variety of edibles and water-based CBD products. The company has established relationships with over 1,200 convenience stores in the UK as well as leading brands such as Boots, Superdrug and Tesco. (https://love-hemp.com/)
The investment by World High Life in Love Hemp will provide Code shareholders with strong exposure to the significant and growing CBD market in the UK and Europe. Love Hemp has an outstanding brand and has been growing its business organically with strong results that bode very well for the future when you combine that with the resources, both financial and through expertise, that are part of this combination.
Codebase has announced that it is making an investment in World High Life PLC, an investment company with a strategic focus to invest in and/or acquire companies in the CBD wellness and medicinal cannabis industry. World High Life PLC will be applying experience its leadership has attained at the forefront of the legalized cannabis industry in North America, leveraging proven models for success in the CBD wellness and medicinal cannabis industry. Code will become one of the largest shareholders of World High Life at this stage, as it continues to seek investments in the space with liquidity and strong revenue growth.
About Codebase Ventures Inc.
The Company’s mission is to make strategic investments in emerging sectors and markets, including cannabis and technologies such as blockchain and cryptocurrencies, where innovative business models and technologies have the potential to be transformative and deliver the greatest value to shareholders.
Codebase Ventures Inc. is a hands-on team of entrepreneurial and technology experts who invest early in great ideas. The Company operates from the understanding that emerging sectors including cannabis and technology are evolving rapidly, bringing early opportunities for strategic investments that can deliver the exponential returns to shareholders.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information, please contact:
Brian Keane, Director
Telephone: 1 (778) 806-5150 – TOLL FREE (877) 806-CODE (2633)
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.
SOURCE: Codebase Ventures Inc.
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