WORLD HIGH LIFE COMPLETES LOVE HEMP ACQUISITION TO BECOME A UK LEADER IN CBD AND HEMP PRODUCTS
VANCOUVER, BC, CANADA (October 21st, 2019) – Codebase Ventures Inc. ("Codebase" or the "Company") (CSE: CODE - FSE: C5B – OTCQB: BKLLF), an investment company, is providing an update on the Company’s previously announced strategic investment by its subsidiary, Code Cannabis Investments, in World High Life PLC (London NEX: LIFE), an investment company focused on CBD wellness and medicinal cannabis in the UK and Europe.
On October 18th, 2019, World High Life announced the completion of its acquisition of Love Hemp Ltd. (“Love Hemp”), the UK’s number one supplier of CBD and hemp products, for consideration of between CAD $15.2 million and CAD $16.9 million (£9 million and £10 million). The 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.
“On behalf of the Codebase board and leadership, we congratulate World High Life and Love Hemp on the completion of this acquisition,” said Mr. Brian Keane, Codebase Director. “This is a tremendous combination that gives Codebase shareholders excellent exposure to the thriving CBD markets in the UK and Europe. Love Hemp is a brand that has experienced tremendous success and is primed to lead the industry’s growth throughout the UK and into Europe. In addition, the terms of the investment are highly favourable to Codebase shareholders, providing excellent liquidity.”
Code Cannabis Investments & World High Life Highlights:
Codebase has made the following investments in World High Life:
Due to Codebase’s initial investment in World High Life, as previously announced, the acquisition by World High Life of Love Hemp provides Codebase shareholders with strong exposure to the significant and growing CBD market in the UK and Europe, one expected to be approximately 1 billion pounds by 2025 in the UK alone.1
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 including leading brands such as Sainsbury’s, WHSmith, Holland & Barrett and Ocado. (https://love-hemp.com/)
World High Life PLC is 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. (www.worldhighlife.uk)
About Codebase Ventures Inc.
Codebase Ventures Inc. is a small, hands-on team of financial and technology experts who invest early in great ideas. We operate from the understanding that technology is always evolving, bringing early opportunities for strategic investments that can deliver the exponential returns to our shareholders. We seek out and empower the innovators who are building tomorrow’s standards with platforms and protocols, not just products. We invest early, support our founders, take their ideas to market and work tirelessly to help them realize their vision.
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 website 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.