Business
Global Hemp Group Announces Closing of Final Tranche of Private Placement
(TheNewswire) Vancouver, BC – TheNewswire - December 11, 2...
About this update from Global Hemp Group, Inc.
[{"type":"text","content":"Global Hemp Group Announces Closing of Final Tranche of Private Placement\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n Vancouver, BC\n \n \n –\n \n \n TheNewswire\n \n \n - December\n11, 2020 --\n \n \n GLOBAL HEMP GROUP\nINC. (“GHG” or the “Company”) (CSE:GHG\n \n \n )\n \n \n (\n \n \n OTC:GBHPF\n \n \n )\n \n \n (\n \n \n FRANKFURT:GHG)\n \n \n (CNSX:GHG.CN)\n \n \n announces that it has received subscription agreements\nfor\n \n \n a non-brokered private placement totaling\n51,600,000 units (“\n \n \n Units\n \n \n ”) at a price of $0.015 per Unit for\ngross proceeds of $774,000 (the “\n \n \n Private Placement\n \n \n ”), which includes subscription agreements for 17,500,000\nUnits from the closing of the first tranche as more fully detailed in\nthe press release filed on November 27, 2020.\n \n \n \n \n Each unit is comprised of one common share of the\nCompany (a \"\n \n \n Common\nShare\n \n \n \" and collectively, the\n\"\n \n \n Common\nShares\n \n \n \") and one common share purchase\nwarrant (each whole warrant a \"\n \n \n Warrant\n \n \n \" and\ncollectively, the \"\n \n \n Warrants\n \n \n \") of the Company. Each whole\nWarrant shall entitle the holder thereof to acquire one additional\nCommon Share at a price of $0.05 per Common Share for a period\nexpiring on September 8, 2023. The warrants will be listed for trading\non the CSE after the expiry of the hold period and will have identical\nterms to the 11,076,741 listed warrants of the Company currently\noutstanding and trading under the ticker symbol GHG.WT. In the event\nthat the Company’s common shares trade on the Canadian Securities\nExchange (or such other exchange on which the common shares may be\ntraded at such time) at a volume weighted average price of $0.12 per\nshare or more for a period of 10 consecutive trading days, the Company\nwill have the right to accelerate the expiry date of the Warrants by\ngiving notice to the holders thereof and, in such case, the Warrants\nwill expire on the 30th day after the date on which such notice is\ngiven to the holder by the Company. All securities issued are subject\nto a four-month plus a day hold period from the date of issuance in\naccordance with applicable securities laws.\n \n \n \n \n Proceeds of the Offering will be used for develo...