Vancouver, BC – TheNewswire – May 17, 2021- GLOBAL HEMP GROUP INC. (“GHG” or the “Company”) (CNSX:GHG.CN) (OTC:GBHPF) (FRANKFURT:GHG) is happy to announce that the Company has entered right into a second strategic property acquisition (see the Company’s information launch of May 10, 2021 for particulars of the primary acquisition) that will likely be utilized within the improvement of its Colorado Hemp Agro-Industrial Zone (HAIZ) in Northwest Colorado. The totally executed contract for the acquisition of roughly 175 web acres of annexed and entitled land will function the catalyst for the Company’s preliminary Planned Unit Development (PUD) of “green” and “affordable” properties, in addition to irrigated industrial hemp cultivation. This is a part of GHG’s “Master Plan” to draw and showcase Industrial Hemp and associated inexperienced and carbon impartial/unfavorable constructing applied sciences to the World.
Earnest cash within the quantity of US$250,000 was deposited by the Company pending completion of due diligence to incorporate title search, survey, and on-site property inspection. Subject to completion of due diligence on or earlier than June 11, 2021, the earnest cash will develop into non-refundable, and the acquisition will likely be scheduled for closing, with remaining funds for the property payable on or earlier than December 11, 2021.
Land Planning and Engineering Firms have been engaged by the Company. Immediately following the June eleventh due-diligence completion date, the Company will likely be coordinating with the City Planners, Building Department, and its personal consultants to ascertain an in depth land use plan from which to effectively stage improvement of each properties totaling roughly 220 acres. Details of the transaction, and the core options of the imaginative and prescient shared by the City and the Company for a sustainable, inexpensive, and inexperienced neighborhood will likely be forthcoming as these occasions unfold and the HAIZ involves fruition.
Funding for this transaction will come from a non-brokered Unsecured Loan the Company is enterprise, for gross proceeds of as much as $750,000. Terms – for the primary 4 (4) months after closing of this transaction or any tranche thereof, there will likely be 0% curiosity paid or accrued on these loans. Thereafter, the Unsecured Loan will accrue easy annual curiosity of 10% P.A., which can accrue and be paid on the time of reimbursement of the precept of the Unsecured Loan. GHG is at the moment in search of a Senior Secured Debt Facility that will likely be collateralized by the Colorado water property. Proceeds from this facility will likely be used to repay the Unsecured Loan and any accrued curiosity excellent at time of reimbursement. In addition, a minimal of 25%, to a most of fifty% of the proceeds from any new frequent share fairness providing, as decided by the Directors primarily based on obtainable money readily available on the time of the fairness providing and occurring previous to the completion of a Senior Secured Debt Facility, will likely be used to retire this Unsecured Loan. For each $10,000 offered to the Corporation, the Investor will obtain a bonus of 100 thousand (100,000) frequent shares of the Corporation, which will likely be topic to a maintain interval ending 4 (4) months and a day after the Closing Date. The proceeds of this Unsecured Loan will likely be primarily used as down funds to safe strategic properties for the event of the Colorado Hemp Agro-Industrial Zone venture and normal working capital functions.
Hemp-Based “Sustainable City” and The Colorado Hemp Agro-Industrial Zone
Global Hemp Group Inc. is making ready to construct a hemp-based “Sustainable City” from the bottom up, strategically positioned in a phenomenal a part of northwestern Colorado, a location in nice want of inexpensive workforce housing.
The venture will make the most of hemp from its eco-friendly farm processed into carbon impartial/unfavorable constructing supplies at its close by industrial campus. The hemp-tech “campus” will function incubator for the event and manufacturing of latest hemp-tech mental property and also will serve to showcase best-in-class carbon lowering constructing applied sciences. This distinctive initiative will likely be an open invitation to collaborate with main hemp-tech R&D scientists, educational companions, neighborhood stakeholders, and hemp-tech start-up entrepreneurs from world wide. Our final Corporate Vision is contributing in the direction of the event of a zero-carbon footprint residing surroundings supportive of a wholesome neighborhood mannequin for the long run. In order to attain this imaginative and prescient, the Company will develop into a pacesetter within the institution of a “Gold Standard” in hemp-tech constructing sciences.
We intend to show this mannequin out after which assist others world-wide do the identical, by securing strategic vertical integration from rising hemp and processing it into varied industrial, value-added marketable merchandise for the huge untapped North American hemp constructing market and past. We imagine in, are enthusiastic about and are championing hemp as a key to the carbon lowering constructing sciences revolution starting to unfold, and to proudly supply merchandise the planet desperately requires to win the conflict on international warming.
As a part of the Company’s shift in focus to creating the hemp-based “Sustainable City” in Colorado, it has closed its operation in Oregon and has accomplished the sale of the Scio Oregon farm. Sale of the farm will web the Company roughly US$325,000 with staged remaining funds being acquired from closing to July 31, 2021.
The Company additionally declares that it has granted incentive inventory choices to Officers, Directors and Consultants to buy as much as 4,000,000 frequent shares of the Company at an train value of $0.05 per share. The choices have a time period of 5 years expiring May 16, 2026.
Global Hemp Group has not too long ago modified its cellphone quantity.
To contact Investor Relations, please name 778-726-2900.
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About Global Hemp Group Inc.
Global Hemp Group Inc. (CSE: GHG / OTCQB: GBHPF / FRANKFURT: GHG) is targeted on a executing a multi-phased technique of changing into a pacesetter within the improvement and promotion of the economic hemp expertise trade within the United States and past. The Company is headquartered in Vancouver, British Columbia. The present section of the technique focuses on the event of “sustainable” and “green” value-added industrial hemp merchandise using the processing of the whole lot of the hemp plant for multi-merchantable purposes, as envisioned to be showcased within the Colorado Hemp Agro-Industrial Zone (HAIZ) venture. This HAIZ would be the epicentre of a futuristic “Sustainable/Renewable and Regenerative City model the Company intends to “brand” and duplicate sharing this mannequin with the World. To assist and innovate the HAIZ additional, Global Hemp Group has established a Research and Development Division to actively pursue the event of Intellectual Property that may be patented for implementation regionally and for partnerships Globally. The Division is led by Prof. Víctor M. Castaño, Ph.D. from the National Autonomous University of Mexico, a extremely acknowledged chief in areas of utilized science and expertise. The R&D crew brings a tremendous wealth of information and expertise in a number of disciplines and can initially give attention to improvement of Environmentally-Friendly Construction Materials, Nanofertilizers and Enhanced Extraction from Hemp.
For Further Information Contact Global Hemp Group
Curt Huber, President
Cautionary Note Regarding Forward Looking Statements
Certain data set forth on this information launch could comprise forward-looking statements that contain substantial recognized and unknown dangers and uncertainties. These forward-looking statements are topic to quite a few dangers and uncertainties, sure of that are past the management of Global Hemp Group Inc., together with, however not restricted to the influence of normal financial situations, trade situations, volatility of commodity costs, forex fluctuations, dependence upon regulatory approvals, the supply of future financing and exploration danger, the legality of cannabis and hemp. Readers are cautioned that the assumptions used within the preparation of such data, though thought of cheap on the time of preparation, could show to be imprecise and, as such, undue reliance shouldn’t be positioned on forward-looking statements. Except as required by legislation, Global Hemp Group Inc. disclaims any intention and assumes no obligation to replace or revise any forward-looking statements to mirror precise outcomes, whether or not because of new data, future occasions, adjustments in assumptions, adjustments in components affecting such ahead wanting statements or in any other case.
The CSE has not reviewed and doesn’t settle for duty for the adequacy or accuracy of this launch.