Vancouver, British Columbia–(Newsfile Corp. – February 8, 2022) – GLOBAL HEMP GROUP INC. (CSE: GHG) (OTCQB: GBHPF) (FSE: GHG) (“GHG” or the “Company”) announces that the Company intends to complete a non-brokered private placement, as set forth below, and has engaged consultants to help him launch a securitized token to fund the development of his Green Community/Hemp Agro-Industrial Zone project in Hayden, Colorado.
Global Hemp Group, in conjunction with Western Sierra Resource Corporation (OTC: WSRC), is developing a planned green community that is a “vertically integrated” project and is considering the beneficial use of existing significant water infrastructure to grow irrigated industrial hemp; process hemp in the on-site manufacturing plant for green and renewable building products; and finally, building carbon neutral/carbon negative affordable housing – all in one place as part of the company’s master plan.
Details of the placement without intermediary
The non-brokered private placement will consist of up to 60,000,000 units (“Units”) at a price of $0.022 per Unit for gross proceeds of $1,320,000 (the “Private Placement”). Each Unit consists of one common share of the Company (a “Common Share” and collectively, the “Common Shares”) and one common share purchase warrant (each whole warrant a “Warrant”) and collectively, the “Warrants”) of the Company. Each whole warrant will entitle the holder thereof to purchase one additional common share at a price of $0.05 per common share for a period expiring on September 8, 2023. The warrants will be listed for trading on the CSE after the expiration of the holding period and will have terms identical to those of the Company’s listed warrants currently outstanding and trading under the ticker symbol GHG.WT. In the event that the common shares of the Company are trading on the Canadian Securities Exchange (or any other exchange on which the common shares may be traded at the time) at a volume-weighted average price of 0, $12 per share or more for a period of 10 consecutive trading days, the Company shall have the right to accelerate the expiry date of the warrants by giving notice to the holders thereof and, in this case, the warrants subscription will expire on the 30th day after the date on which such notice is given to the holder by the company. All securities issued are subject to a hold period of four months plus one day from the date of issue in accordance with applicable securities laws.
Additionally, and in light of the accelerated and institutional adoption of cryptocurrencies around the world, the Company has decided to aggressively explore a competing initiative as the Company wishes to complete funding by tokenizing its Green Community/ Hemp Agro-Industrial Zone in Colorado, USA. This type of asset structure will allow GHG to participate in innovative and non-dilutive financing of the project. The terms and conditions of this financing have not yet been finalized and therefore the Company will soon be able to issue a press release explaining the various components, intricacies and legalities of this venture.
The net proceeds from these fundraising initiatives will be used for the continued development of the Green Community/Hemp Agro-Industrial Zone project in Colorado, the expansion of the Mexican project initiatives and the company’s R&D division, as well as for general working capital. A finder’s fee may be paid in conjunction with the non-brokered private placement.
This press release does not constitute an offer to sell or the solicitation of an offer to buy and there will be no sale of the securities in any state in which such offer, solicitation or sale would be unlawful.
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About Global Hemp Group Inc.
Global Hemp Group Inc. (CSE: GHG) (OTCQB: GBHPF) (FSE: GHG) is focused on executing a phased strategy to become a leader in the industrial hemp industry in the United States. The company is headquartered in Vancouver, British Columbia. The current phase of the strategy is focused on developing “sustainable” and “green” value-added industrial hemp products using whole hemp plant processing for multi-market applications, as will be showcased at Colorado Hemp Agro-Industrial Zone Project (HAIZ) in Hayden Colorado.
To further support and innovate HAIZ, Global Hemp Group has created a Research and Development division to actively pursue the development of intellectual property that can be patented for implementation in its projects and beyond. The division is led by Professor Víctor M. Castaño, Ph.D. of the National Autonomous University of Mexico (UNAM), a highly recognized leader in the fields of applied science and technology. The R&D team brings an incredible wealth of knowledge and experience across multiple disciplines and will initially focus on the development of environmentally friendly building materials, nanofertilizers and enhanced hemp extraction.
For more information, contact Global Hemp Group
Curt Huber, President
Caution Regarding Forward-Looking Statements
Certain information in this press release may contain forward-looking statements that involve important known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the control of Global Hemp Group Inc., including, but not limited to, the impact of general economic conditions, industry conditions, commodity price volatility, currency fluctuations, dependence on regulatory approvals, availability of future financing and exploration risk, legality of cannabis and hemp. Readers are cautioned that the assumptions used in the preparation of this information, while believed to be reasonable at the time of preparation, may prove to be imprecise and, accordingly, undue reliance should not be placed on any forward-looking statements. Except as required by law, Global Hemp Group Inc. disclaims any intention and undertakes no obligation to update or revise forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.
The CSE has not reviewed and accepts no responsibility for the adequacy or accuracy of this release.
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