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Try to find a host that will allow you to choose/select your PHP version.
Using PHP 5.4 and up and MySQL 5.5 and up, may cause some warning or error issues.
Important Note: Also make sure that your host allows crons to be run every 5 minutes, some shared hosting plans do not allow crons to be run under 15 minutes. GoDaddy and HostGator are a couple of examples that only allow cron jobs under 15 minutes on their VPS and Dedicated server plans.