Shares in cannabis products company Love Hemp have been suspended over a fundraising issue, which has seen the company hit with a £100,000 fine.
The Anthony Joshua-backed firm has been delisted from the London Acquis Stock Exchange (AQSE), the company announced today.
It follows an investigation by AQSE, launched earlier this year, in response to the resignation of its corporate advisor.
Peterhouse resigned as its corporate advisor after an investor in February’s subscription failed to complete their investment of £1.2m.
According to AQSE, the firm failed to update the market on the investor’s lack of payment on the due date.
Love Hemp, which sells cannabinoid (CBD) oils, has agreed to pay the settlement early, allowing it to fork out just £70,000 for the levy in total.
Chairman Graham Mullis said: “We regret that Love Hemp has found itself in this position however, I am pleased the company has been able to resolve the situation with AQSE and looks forward to appointing a new corporate advisor and lifting the trading suspension shortly.”