Global Hemp Group Early Warning Report
Vancouver, BC -- (December 11, 2024) -- GLOBAL HEMP GROUP INC. (“GHG” or the “Company”) (CSE: GHG / OTC: GBHPF / FRANKFURT: GHG0) ireports that Mr. Nikolas Perrault (the "Seller") has sold 1,350,000 non-trading common share purchase warrants which entitles the holder to acquire one additional common share of the Company at an exercise price of $0.10 until January 15, 2027 (each a "Warrant") of Global Hemp Group Inc. in a private transaction, for aggregate gross proceeds of $1,000 (the "Disposition").
Prior to the transaction, the Seller owned, directly and indirectly 2,097,000 Common Shares of the Company and 1,350,000 Warrants, representing approximately 8.65% of the issued and outstanding Common Shares of the Company based on 24,291,458 Common Shares issued and outstanding of the Company on a non-diluted basis, and approximately 13.44% of the issued and outstanding Common Shares on a partially diluted basis assuming the exercise in full of the Warrants, based upon 25,641,458 Common Shares.
Immediately following the Disposition the Seller owns, directly and indirectly, 2,097,000 Common Shares representing 8.65% of the issued and outstanding Common Shares based on 24,291,458 Common Shares issued and outstanding of the Company. Accordingly, the Seller is no longer subject to the early warning reporting requirements in respect of the Company, as the Seller has fallen below the 10% reporting threshold.
The Seller held and disposed of the Warrants in the ordinary course of business. The Seller may acquire additional securities or dispose of securities of the Issuer in the future either on the open market, privately or otherwise depending on market conditions, reformulation of plans, other available investment business opportunities and/or other relevant factors.
This news release is being issued pursuant to National Instrument 62-103, persons who wish to obtain a copy of the early warning report to be filed by Komodo Holdings (Alberta) ULC in connection with this transaction may obtain a copy of such report from www.sedarplus.ca or by contacting the persons named below.
About Global Hemp Group Inc.
Global Hemp Group Inc. (CSE: GHG / OTC: GBHPF / FRANKFURT: GHG0) is currently focused on two key business segments - Industrial Hemp and Health & Wellness (Biopharma).
The Industrial Hemp division’s primary focus lies in the environmental uses of hemp for construction and hemp for sustainable bio-energy sources, both contributing to a carbon-negative footprint. The Health and Wellness Division is focused on the acquisition of exclusive licensing of patents and IP.
For Further Information Contact Global Hemp Group
Investor Relations
Tel: 778-726-2900
info@globalhempgroup.com
https://www.globalhempgroup.com
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.