GLOBAL HEMP GROUP ANNOUNCES BROKERED PRIVATE PLACEMENT
Vancouver, BC -- (April 20, 2023) -- GLOBAL HEMP GROUP INC. (“GHG” or the “Company”) (CSE: GHG / OTC: GBHPF / FRANKFURT: GHG) announces that it will be proceeding with a brokered private placement consisting of the sale of up to 100,000,000 units at $0.01 each (the “Units”) for gross proceeds of up to $1,000,000 (the “Offering”). This Offering is being led by EMD Financial Inc., acting as sole bookrunner and replaces the non-brokered private placement announced on March 8, 2023.
Each Unit will consist of one common share (the “Common Shares”) and one common share purchase warrant (the “Warrants”). Each Warrant will entitle the holder thereof to acquire an additional Common Share in the capital of the Company at an exercise price of $0.05 for a period of thirty-six (36) months from the date of closing of the private placement.
The proceeds of this private placement will be used for general working capital purposes.
In connection with the Offering, the Company will pay finder’s fees and issue finder warrants to EMD Financial Inc. as well as any other registrants participating in the Offering consisting of: (i) cash fees of up to 8% of the gross proceeds of the Offering (the “Finder’s Fee”); and (ii) finder warrants in an amount equal to up to 8% of the number of Units issued pursuant to the Offering, exercisable at a price of $0.05 per Common Share for a period of twenty-four (24) months following the Closing Date (the “Finder’s Warrants”).
The Corporation reserves the right to proceed with multiple closings of the Offering, without any restrictions as to minimum amounts subscribed, on or before May 20, 2023 or such other date not exceeding 45 days from the date hereof as determined by the Company, and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the approval of the Canadian Securities Exchange and the securities regulatory authorities.
Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 – Prospectus Exemptions (“NI 45-106”), the Units will be offered for sale to purchasers resident in Canada, and other qualifying jurisdictions pursuant to the listed issuer financing exemption under Part 5A of NI 45-106 (the “Listed Issuer Financing Exemption”). Because the private placement is being completed pursuant to the Listed Issuer Financing Exemption, the securities issued in the private placement will not be subject to a hold period pursuant to applicable Canadian Securities laws.
There is an offering document related to this offering that can be accessed under GHG’s profile at www.sedar.com and at https://www.globalhempgroup.com/. Prospective investors should read this offering document before making an investment decision.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States or any other jurisdiction. No securities may be offered or sold in the United States or in any other jurisdiction in which such offer or sale would be unlawful absent registration under the U.S. Securities Act of 1933, as amended, or an exemption therefrom or qualification under the securities laws of such other jurisdiction or an exemption therefrom.
About Global Hemp Group Inc.
Global Hemp Group Inc. (CSE: GHG / OTC: GBHPF / FRANKFURT: GHG) is focused on developing and promoting hemp-based products that are sustainable, environmentally friendly, and have a positive impact on society. To further support and innovate, GHG has established a R&D Division to actively pursue the development of Intellectual Property that can be patented for implementation at its projects and beyond. The Division is led by Prof. Víctor M. Castaño, Ph.D. whose career has focused in the areas areas of applied science and technology. The R&D team will initially focus on development of Environmentally Friendly Construction Materials, Nanofertilizers and Enhanced Cannabinoid Extraction from Hemp.
Cautionary Note Regarding 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. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Global Hemp Group Inc., including, but not limited to the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, dependence upon regulatory approvals, the availability of future financing and exploration risk, the legality of cannabis and hemp. 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. Except as required by law, Global Hemp Group Inc. disclaims any intention and assumes no obligation to update or revise any 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 does not accept responsibility for the adequacy or accuracy of this release.
For Further Information Contact Global Hemp Group
Investor Relations
Tel: 778-726-2900
https://www.globalhempgroup.com
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