Codebase Ventures Inc. Updates Its World High Life Investment as Love Hemp Online Sales Increase 107% in May Compared to January 2020
Codebase Ventures Inc. (“Codebase” or the “Company”) (CSE:CODE)(FSE:C5B)(OTCQB:BKLLF) an investment company, is providing an update on its investment in World High Life Plc (LIFE) (WRHLF).
World High Life’s wholly owned subsidiary, Love Hemp Ltd (Love Hemp), has achieved a continued growth in online sales during Covid-19, with its May online sales having achieved a 107% increase over January’s online sales. World High Life PLC did not release the effect this increase in top line sales had on net income.
During COVID-19, the Love Hemp management team has been highly responsive to customer needs and the rapidly changing business environment due to COVID-19. The effort to build greater awareness and capacity online to drive sales has resulted in continued sales increases throughout the period.
Love Hemp Highlights
- 107% increase in online sales May 2020 over January 2020
- Strong sales growth reflects continued brand appeal and ongoing product innovation
- It highlights the success of the brand strategy, with Love Hemp focused on building an accessible and supportive brand that is destigmatising usage whilst demystifying CBD in the UK by educating consumers
During this challenging period, Love Hemp has deployed a marketing strategy to drive sales through its e-commerce platform, which has resulted in the rapid growth of its online presence. Anticipating that as the wider variety of retail sales channels re-emerge as COVID-19 measures loosen, the brand will be able to serve and engage with customers in new and innovative ways, predicated on building trust and loyalty with the Love Hemp brand and its products.
About Codebase Ventures Inc.
Codebase Ventures Inc. is an investment company, led by technology and business experts who invest early in great ideas in sectors that have significant upside, including the cannabis sector. 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, protocols and innovations – not just products. We invest early, support those founders, take their ideas to market, and work tirelessly to help them realize their vision.
For further information, please contact:
George Tsafalas – Ivy Lu
Telephone: Toll-Free (877) 806-CODE (2633) or 1 (778) 806-5150
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.
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.
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