Business
Global Hemp Group Announces Consulting Agreemnts and Issuance of Options and Warrants
(TheNewswire) Vancouver, BC – TheNewswire - January 25, 20...
About this update from Global Hemp Group, Inc.
[{"type":"text","content":"Global Hemp Group Announces Consulting Agreemnts and Issuance of Options and Warrants\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 January\n25, 2021 -\n \n \n GLOBAL HEMP GROUP\nINC. (“GHG” or the “Company”) (CSE:GHG\n \n \n )\n \n \n /\n \n \n (\n \n \n OTC:GBHPF\n \n \n )\n \n \n /\n \n \n (\n \n \n FRANKFURT: GHG)\n \n \n (CNSX:GHG.CN)\n \n \n announces that pursuant to its stock option plan, it has\ngranted stock options to purchase up to 5,300,000 common shares of the\nCompany at an exercise price of $0.055 per share. The options have a\nterm of five years expiring January 25, 2026 and shall vest in\nimmediately.\n \n \n \n \n The Company would also like to announce that it has\nentered into three consulting agreements (the \"\n \n \n Consulting Agreements\n \n \n \"). The first Consulting Agreement is with Twilight\nCapital Inc. (\"\n \n \n Twilight\n \n \n \") with respect to Twilight\nproviding consulting services to support the Company’s business\nstrategy in seeking various sources of funding. The second Consulting\nAgreement is with Prof. Víctor M. Castaño, Ph.D. with respect to\nacting as a R&D Advisor to the Company and to head GHG’s\nResearch and Development Division, with the objective of creating\nIntellectual Property/patented technology that will be utilized at the\nCompany’s projects and widely marketed throughout the United States.\nThe third Consulting Agreement is with Gabriel Gauthier, a master hemp\nbuilder and pioneer in hemp construction in North America. Mr.\nGauthier will advise on the utilization and application of hemp\nbuilding materials and hemp construction for the Company's Colorado\nproject\n \n \n \n \n Terms of the consulting agreements, effective January\n25, 2021, the Company to issue 3,000,000 warrants exercisable at the\ncurrent market price, but in no case less than $0.05. These warrants\nwill be exercisable for a period of five years from the date of issue\nand will vest six months after issuance. On the one year anniversary\nof the agreement the Company will issue an additional 4,000,000\nwarrants with an exercise price based on the previous 10 day VWAP, but\nin no case less than $0.05. The warrants will have a term of 5 years\nfrom the date of the one-year ann...