Love Hemp Group PLC (AQSE:LIFE, OTCQB:WRHLF) said it is in talks with a new corporate advisor and expects to update the market with an appointment soon.
Shares in the supplier of cannabinoids and wellness products have been suspended on the Aquis Exchange (AQSE) since May 3 after Peterhouse Capital Limited (LSE:CAPD) resigned as the company’s corporate advisor. Love Hemp needs to appoint a new corporate advisor so that share trading can resume.
Peterhouse resigned after the company announced that an investor in a February placing had failed to complete its £1.2mln investment.
Love Hemp said it had started an ongoing review of the events that led to the suspension to ensure the same doesn’t happen again and will implement any additional controls put forward by the investigation.
In addition, the company said a board structure review is underway, and it is actively seeking candidates for the roles of chief financial officer and an independent non-executive director.
“The board believes Love Hemp has significant growth opportunities and our review is designed to support this growth and enhance long term shareholder value,” said executive chairman Andrew Male.