NEW YORK, NY, June 15, 2020 (GLOBE NEWSWIRE) -- World High Life Plc. (OTCQB: WRHLF) is building an investment portfolio in the legal medicinal cannabis, hemp and CBD industries, and its first step towards establishing a footprint in these industries was the acquisition of Love Hemp, Ltd., a London-based CBD company playing a leadership role in the development of the United Kingdom’s (UK) leading range of trusted CBD products.  World High Life’s first acquisition was strategic, and acquiring Love Hemp as its wholly owned subsidiary, ideally positions the company to succeed in the rapidly developing CBD, health and wellness, and legal cannabis markets in the UK and throughout Europe.

Love Hemp is already considered one of the UK’s leading CBD and hemp product suppliers with over 40 products and 1,200 listings to date, and combined with a nimble business plan, the company has shown itself to be quite capable of navigating any challenge.  As we’re all learning to live, work, and shop during a global pandemic, Love Hemp has embraced these challenging times by highlighting and expanding its offerings online, a focus that has resulted in explosive sales numbers.  

As a result of management’s responsiveness during the COVID-19 pandemic to serve consumers who could no longer acquire products at retail locations, the company’s e-commerce growth has achieved impressive sales increases month over month since January 2020.  The results speak for themselves as last week World High Life announced that Love Hemp’s online sales in May 2020 eclipsed online sales figures from January 2020 by an astounding 107%.

Founder and CEO of Love Hemp, Tony Calamita, explained that the exponential e-commerce growth is a credit to his company’s ability to meet these challenging times with flexibility and the keen recognition of evolving consumer demands.  With continued online sales growth, these impressive numbers are a reflection that Love Hemp’s brand strategy is clearly working.  

While Love Hemp continues to grow its product offerings and market itself in the UK, the CEO says he expects to further expand the company’s brand throughout the UK, Europe, and North America.  And why not—success is always measured by consumer response, and in 2020, consumer engagement and loyalty of Love Hemp’s products have demonstrated a trajectory of strong growth upon which to build further expansion of the brand.

Now listed on the AQSE (formerly the NEX Exchange) in the UK and the OTCQB in the U.S., World High Life has just announced its intention to list the company on the Canadian Securities Exchange, all of which provide investors in the most important CBD and legal cannabis growth markets, access to participate in the company’s growth and to follow its story.  

A look at two separate published reports that highlight the cannabis industry in the UK and Europe, and it’s obvious that both are prime real estate for investing.  According to the December 2019 “UK Cannabis Report,” the UK is expected to grow to a $4.3 billion cannabis market by 2024.  And the research in “The European Cannabis Report,” shows that Europe’s cannabis market is expected to grow to about $145 billion (USD) by 2028.

In business, timing is everything, and World High Life is entering UK’s cannabis industry at an inflection point that should allow for its subsidiary to grow in parallel with the growth of the cannabis industry there.  With an eye to the future, expanding the Love Hemp brand deeper into the UK and throughout Europe, makes perfect sense.  After all, Europe is home to more than 740 million people, a population that is more than double that of the U.S. and Canada combined. 

While the cannabis industry in North America is well-documented and most see the United States and Canada as fertile ground from which to forge a profitable path into the industry, it is the European market that could be the ideal launching point to sculpt a growing footprint of investments in the cannabis market.  According to “The European Cannabis Report,” Europe is set to become the world’s largest legal cannabis market over the next five years. 

Several factors that are driving Europe’s rise in the industry are that more and more countries in Europe are announcing new legislation that is favorable to opening their nations up to the cannabis industry, big investing dollars are pouring into Europe to the tune of more than $550 million (USD) being invested in European cannabis businesses already, including significant expenditure in research and development, manufacturing and distribution, and a government healthcare system with an annual healthcare expenditure that is more than $2 trillion (USD) and a total annual healthcare spend that is estimated at more than $2.5 trillion. 

Grand View Research agrees with the report on the dramatic growth expected in Europe and reported that Europe’s cannabis market is set to grow by 400% over the next 5 years.  Meanwhile, in their published research, Arcview Market Research and its research partner BDS Analytics report that European government-subsidized healthcare systems will catapult medical cannabis to dominate Europe’s cannabis market and become the largest medical marijuana market in the world.

While things are changing quickly in Europe, the entire market is currently based upon medical cannabis that must be purchased in pharmacies after a patient obtains a doctor’s prescription.  Germany took the lead in Europe in 2017 by opening up cannabis for medical use in pharmacies, which almost immediately increased patients seeking medical cannabis from just a few hundred patients to tens of thousands.  With this strong regulatory approach in Europe, Love Hemp’s THC-free products and their popularity with Alliance Healthcare, the UK’s leading distributor to pharmacies and independent retailers, where the Love Hemp brand is now its best-selling CBD brand, make the company a strong candidate to meet the stringent rules in the European cannabis market.

Saturating the UK cannabis market with a recognizable and profitable brand by delivering more products to retail outlets and continuing its online strategy has to be the first hurdle to clear for World High Life and its subsidiary, Love Hemp.  But, with the flexibility that the company has already demonstrated to drive online sales to what have been remarkable month over month numbers, including a blow-out month of sales in May, the company’s strategy is working and appears to only be getting stronger.  

Building on this momentum, Love Hemp has announced that it is launching a re-brand as part of an overall consumer strategy later this year with the support of its brand-marketing agency, Propaganda, one of the UK’s leading consumer product marketing firms.  This bodes well for the brand’s expansion beyond the UK, a win-win scenario for both Love Hemp and World High Life, a company that expects to continue broadening its reach in the industry.

To learn more about World High Life visit: https://www.worldhighlife.uk

To learn more about Love Hemp visit: https://love-hemp.com

Or to ask questions directly, call their toll-free number in North America: 1 (888) 616-WRHLF (9745)

About World High Life

World High Life PLC is an investment company with a strategic focus to invest in and/or acquire companies operating in the CBD wellness and medicinal cannabis industry.  The Company's wholly owned subsidiary, Love Hemp Ltd., is one of the UK's leading CBD and Hemp product suppliers and has more than 40 product lines, comprising oils, sprays and vapes, and a variety of edible and water-based CBD products.  Love Hemp has established relationships with over 1,200 stores in the UK, including leading brands such as Ocado, Holland & Barrett, and WH Smith.

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