British CBD maker Love Hemp Group was fined 100,000 pounds ($118,347) by the London-based Aquis Stock Exchange for misleading investors by announcing a capital raise of 2 million pounds that was not completed.
The exchange also suspended the trading of Love Hemp stocks (LIFE) and gave the company the option to pay a reduced penalty of 70,000 pounds for an “early settlement” of the fine.
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Love Hemp said in a news release that it “has reached a settlement” with Aquis and “agreed to pay the sum of GBP70,000 to AQSE to resolve this matter.”
The company announced on Feb. 8 the completion of a capital raise of 2.06 million pounds and, according to the stock exchange, the raise included an agreement, or subscription deed, with an investor in the amount of 1.2 million pounds with a payment due date of March 7, 2022.
But when the investor failed
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