EARLY STAGE INVESTMENT PROVIDES EXPOSURE TO ‘WORLD’S LARGEST LEGAL AND MEDICINAL CANNABIS MARKETS BY 2023’1
VANCOUVER, BC, CANADA (October 22nd, 2019) – Victory Resources Corporation (CSE: VR) (FWB: VR61) (OTC: VRCFF) (“Victory” or the “Company”) announces that the Company, a diversified investment corporation, has invested in World High Life PLC (“World High Life”) a UK CBD wellness and medicinal cannabis investment company listed on the London NEX Exchange under the symbol LIFE.
As a diversified investment corporation, Victory is looking at multiple investment opportunities, and the Company’s investment in World High Life provides Victory shareholders with exposure to early stage, fast developing CBD and medicinal cannabis markets in the UK and Europe.
“The UK and Europe are beginning to lift off, following North America’s launch over 5 years ago. This strategic investment in World High Life, which just acquired UK CBD company Love Hemp, will provide Victory shareholders with an early stage position as World High Life and Love Hemp focus on expansion of the brand throughout the UK and into Europe. Love Hemp is an established leader in the UK, with over 40 CBD product lines in over 1200 stores,” said Mr. David Lane, Victory President and CEO.
World High Life Investment Highlights
The Debentures pay interest of 10% annually, and are convertible into ordinary shares of World High Life ("Ordinary Shares") at a price of £0.10 per share, subject to World High life’s right to force conversion upon 30 days' notice in the event that the Ordinary Shares trade at £0.30 or higher for a 10 day period. The debenture units consisted of a £1.00 principal amount and included 10 warrants to purchase additional ordinary shares at a price £0.15 per share for two years (6,666,670 warrants in total), subject to World High Life’s right to accelerate the maturity date upon 30 days' notice in the event that the Ordinary Shares trade at £0.25 or higher for a 10 day period. The Debentures will mature in two years plus one day from closing.
“With tremendous growth on a global scale as CBD and medicinal cannabis become legal in new regions, our team is highly tuned to opportunities that present significant growth potential which will benefit our shareholders and we are excited for World High Life’s trajectory in the UK and Europe,” added Mr. Lane.
For further information, please contact:
David Lane, President
Telephone: +1 (236) 317 2822
About Victory Resources Corporation
VICTORY RESOURCES CORPORATION (CSE: VR) is a publicly traded diversified investment corporation with mineral interests in North America. The company is also currently seeking other opportunities.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
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