VANCOUVER, BC / ACCESSWIRE / September 30, 2022 / LOVE Pharma Inc. ("LOVE" or the "Company") (CSE:LUV) (FSE:G1Q0) is pleased to announce that its subsidiary, Doc Hygiene Pharmaceuticals Inc. ("Doc Hygiene"), has launched operation "Clean Hands" in California, delivering sanitizer products to homeless shelters throughout the community.
"We identified an opportunity to support the community by providing hand sanitizer and wipes to homeless organizations in California," said Zach Stadnyk, CEO of LOVE. "In many cases these are organizations that have budget limitations and the need for sanitizer products, especially personal ones that people can have on them, are not part of the service they can regularly offer. Operation "Clean Hands" is a community program aimed at putting top quality sanitizer products in the hands of people who need them the most, without costing them any money," added Mr. Stadnyk.
To date, the Doc Hygiene team has delivered comprehensive "Clean Hands" care packages to approximately 100 homeless shelters and organizations in California and is continuing the effort.
The company also is pleased to announce it has completed the second tranche of a non-brokered private placement. The Company accepted subscriptions for 15,500,000 units at a price of $0.014 per unit, for gross proceeds of $217,000. Each Unit consists of one common share in the equity of the Company and one common share purchase warrant (a "Warrant"). Each Warrant entitles the holder to purchase one additional common share of the Company at a price of $0.05 per share for a period of two (2) years from the closing of the Financing, subject to the option of the Company to accelerate the expiry date in the event that its shares trade at $0.15 or more for 10 consecutive days.
The Company raised a total of $513,450. A total of 36,675,000 Units and 108,000 broker warrants were issued pursuant to the Financing.
Securities issued pursuant to this tranche are subject to trading restrictions until January 31, 2023.
Proceeds will be used for working capital and to review possible acquisitions.
Zachary Stadnyk, CEO and Director
About Love Pharma Inc.
With a focus on the global sexual Health and Wellness markets, Love Pharma Inc. (CSE:LUV) (FSE:G1Q0) was founded in 2020, with a mission to bring to market innovative products that enhance sexual health and wellness while providing an improved quality of life. Love Pharma holds exclusive licenses to produce market, package, sell, and distribute patent-protected therapeutic and pharmaceutical products throughout Europe, the United Kingdom, and North America.
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Forward Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates", "may" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions, risks relating to epidemics or pandemics such as COVID-19, including the impact of COVID-19 on the Company's business, financial condition and results of operations, lack of investor demand for Bitcoin and/or Bitcoin futures exchange traded funds, and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
SOURCE: Love Pharma Inc.