Early Stage Investment Offers Exposure to ‘World’s Biggest Legal and Medicinal Cannabis Markets by 2023′1
VANCOUVER, BC / ACCESSWIRE / October 22, 2019 / Victory Sources Corporation (VR.CN)(VR61.F)(VRCFF) (“Victory” or the “Organization”) announces that the Organization, a diversified investment corporation, has invested in Planet Higher Life PLC (“Planet Higher Life”) a UK CBD wellness and medicinal cannabis investment business listed on the London NEX Exchange below the symbol LIFE.
As a diversified investment corporation, Victory is hunting at several investment possibilities, and the Company’s investment in Planet Higher Life gives Victory shareholders with exposure to early stage, quickly building CBD and medicinal cannabis markets in the UK and Europe.
“The UK and Europe are starting to lift off, following North America’s launch more than five years ago. This strategic investment in Planet Higher Life, which just acquired UK CBD business Like Hemp, will deliver Victory shareholders with an early stage position as Planet Higher Life and Like Hemp concentrate on expansion of the brand all through the UK and into Europe. Like Hemp is an established leader in the UK, with more than 40 CBD item lines in more than 1200 shops,” mentioned Mr. David Lane, Victory President and CEO.
Planet Higher Life Investment Highlights
- Victory has invested CAD$1,100,00 (£666,667) in Planet Higher Life convertible debenture units (the “Debentures“)
- Planet Higher Life announced acquisition of UK CBD leader Like Hemp on October 18th
- European legalized cannabis market is forecasted to develop into ‘the world’s biggest legal and healthcare cannabis markets by 2023.’1
- European CBD market place alone forecasted to develop more than 400% by way of 2023two
The Debentures spend interest of 10% annually, and are convertible into ordinary shares of Planet Higher Life (“Ordinary Shares“) at a cost of £0.10 per share, topic to Planet Higher life’s suitable to force conversion upon 30 days’ notice in the occasion that the Ordinary Shares trade at £0.30 or larger for a 10 day period. The debenture units consisted of a £1.00 principal quantity and incorporated 10 warrants to obtain more ordinary shares at a cost £0.15 per share for two years (six,666,670 warrants in total), topic to Planet Higher Life’s suitable to accelerate the maturity date upon 30 days’ notice in the occasion that the Ordinary Shares trade at £0.25 or larger for a 10 day period. The Debentures will mature in two years plus 1 day from closing.
“With tremendous development on a international scale as CBD and medicinal cannabis come to be legal in new regions, our group is hugely tuned to possibilities that present important development prospective which will advantage our shareholders and we are excited for Planet Higher Life’s trajectory in the UK and Europe,” added Mr. Lane.
twohttps://www.brightfieldgroup.com/press-releases/europe-cbd-market place-by way of-2023
For additional data, please get in touch with:
David Lane, President
Phone: +1 (236) 317 2822
E-mail: [email protected]
About Victory Sources Corporation
VICTORY Sources CORPORATION (VR.CN) is a publicly traded diversified investment corporation with mineral interests in North America. The business is also presently searching for other possibilities.
Neither the Canadian Securities Exchange nor its Regulation Solutions Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts duty for the adequacy or accuracy of this release.
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