World High Life Plc (AQSE:LIFE)(OTCQB:WRHLF) is pleased to announce that it is has raised £381,143 (before expenses) through a private subscription (“Subscription”) for 38,114,285 ordinary shares of 1 pence each (“Ordinary Shares”) at a price of 1 pence per share. The proceeds of the subscription will be used to conduct due diligence on further investment opportunities in accordance with the Company’s investment policy and for general corporate and working capital purposes
Pursuant to the terms of the Subscription, each of the subscribers has been granted one warrant for each Ordinary Share subscribed for, and each warrant entitles the holder to subscribe for an additional Ordinary Share at a price of 1 pence per share exercisable for a period of two years, subject to the Company’s right to accelerate the maturity date upon 30 days’ notice in the event that the Ordinary Shares trade at 10 pence or higher for a 10 day period. In aggregate the Company has granted 38,114,285 warrants pursuant to the Subscription.
Application will be made for the Ordinary Shares to be admitted to trading on the AQSE Growth Market and admission is expected to become effective on 6 November 2020.
Following this issue of the Ordinary Shares, the Company’s has 230,119,819 Ordinary Shares in issue, each share carrying the right to one vote. The figure of 230,119,819 should be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules.
For further information please contact:
AQSE Corporate Adviser
Market Abuse Regulation (MAR) Disclosure
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.
Cautionary Note Regarding Forward Looking Information
We seek safe harbour. Some statements contained in this news release are “forward looking information” within the meaning of securities laws. Forward looking information include, but are not limited to, statements regarding the use of proceeds of the non-brokered private placement and payment of the debt settlements. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes” or variations of such words and phrases (including negative or grammatical variations) or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative connotation thereof. Investors are cautioned that forward-looking information is inherently uncertain and involves risks, assumptions and uncertainties that could cause actual results to differ materially. There can be no assurance that future developments affecting the Company will be those anticipated by management. The forward-looking information contained in this press release constitutes management’s current estimates, as of the date of this press release, with respect to the matters covered thereby. We expect that these estimates will change as new information is received. We do not undertake to update any estimate at any particular time or in response to any particular event, except as required by law.
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SOURCE: World High Life Plc
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World High Life Plc
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