Production Capacity to Increase by 400%
LONDON, UK / ACCESSWIRE / August 18, 2020 / World High Life Plc (AQSE:LIFE)(OTCQB:WRHLF) is pleased to announce that its wholly owned subsidiary, London-based CBD brand, Love Hemp Limited (“Love Hemp“) has started construction on a 13,500 sq. ft. new facility.
The new facility will enable Love Hemp to increase production across its range, including oils, cosmetics, and capsules. On completion, on-site capacity will increase production to in excess of 43,000 units of CBD oils, capsules, and cosmetics per day, from the current limit of approximately 8,000 units.
Highlights of New Facility
· The new two level, 13,500 sq. ft expansion will increase production capacity by approximately 4 times to meet rising demand
· On completion, Love Hemp will be able to produce 43,000 units of CBD oils, capsules, and cosmetics per day
· The new facility will be operational in phases, providing improved storage, production capacity, lead times, and safety of staff, with overall completion expected in February 2021.
“This expansion further increases our capabilities in striving to exceed customer and consumer requirements while improving storage and production capabilities, lead times and ensuring the safety of our staff. Our strategy is to continue to expand our local footprint, contributing to the future growth of our business, whilst also providing quality CBD products to our consumers throughout the UK and around the world. The scale of our new facility will support our customer proposition and enable staff to continue to stay safe at work as volumes increase,” says Tony Calamita, CEO at Love Hemp.
“Love Hemp also recently achieved its ISO 9001:2015 certification, an international quality management system standard of efficiency and customer satisfaction. This reinforces our commitment to ensuring we are providing our customers with only the highest quality CBD products, from oils to edibles and cosmetics to e-liquids. As a UK leading supplier of CBD products, we believe it is imperative to continuously improve our internal process to meet our commitment to our customers,” adds Mr. Calamita.
For further information please contact:
For more information on World High Life please visit: www.worldhighlife.uk
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.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact firstname.lastname@example.org or visit www.rns.com.