Boxer Anthony Joshua strikes new blow as he-backed cannabis company fined £100,000, shut down
Anthony Joshua suffered another blow after losing Saturday’s world heavyweight title bout to Oleksandr Usyk.
A boxer-backed cannabis company was fined £100,000 and had its shares suspended from trading yesterday.
Joshua, 32, is a shareholder of Love Hemp, which specializes in cannabis oil that can help athletes recover from injuries.
Fine: Anthony Joshua (pictured in rematch with Oleksandr Usyk) is a shareholder of Lovehemp
However, the company has struggled to raise more than £2 million in funding in February, as some of the participating investors were unable to recover their funds.
One of the investors who had promised £1.2m did not provide the money, but Love Hemp did not notify shareholders and the market until May 3rd.
The stock exchange Acquis, where Love Hemp shares are traded, fined the company £100,000 following an investigation and is now delisted.
“We are pleased that the company has resolved the situation with Akiz,” said Graham Mullis, chairman of Love Hemp.
It was the end of a tough few days for Joshua, who lost a rematch to Ukraine’s Usyk in Saudi Arabia.