Business
Global Hemp Group Announces Private Placement and Corporate Update
Vancouver, British Columbia--(Newsfile Corp. - March 18, 2025) - Global Hemp Group Inc. (CSE: GHG) (OTC Pink: GBHPF) (FSE: GHG) ("GHG" or the "Company") is pleased to announce that it intends to complete a non-brokered private placement of up to 14,000,000 units (each a "Unit") at $0.031 per Unit for gross proceeds of up to $434,000 (the "Offering"). Each Unit is comprised of one common share in the capital of the Company (each a ...
About this update from Global Hemp Group, Inc.
[{"type":"text","content":"Vancouver, British Columbia--(Newsfile Corp. - March 18, 2025) - Global Hemp Group Inc. (CSE: GHG) (OTC Pink: GBHPF) (FSE: GHG) ("GHG" or the "Company") is pleased to announce that it intends to complete a non-brokered private placement of up to 14,000,000 units (each a "Unit") at $0.031 per Unit for gross proceeds of up to $434,000 (the "Offering"). Each Unit is comprised of one common share in the capital of the Company (each a "Common Share") and one non-transferable Common Share purchase warrant (each a "Warrant"). Each Warrant entitles the holder to acquire one Common Share at a price of $0.10 per share, exercisable until March 24, 2028. All securities issued under the Offering, including securities issuable on exercise thereof, will be subject to a hold period expiring 4 months and one day after issuance, in accordance with the rules and policies of the Canadian Securities Exchange and applicable Canadian securities laws. The Company intends to use the net proceeds from the Offering for general working capital purposes. It is anticipated that this placement will close in multiple tranches, with the first tranche of $75,000 for 2,419,354 Units expected to close in a week. The Company may pay a finder's fee to qualified arm's-length third parties consisting of a cash commission of up to 8% of the gross proceeds of the private placement and 8% broker warrants on the same terms as warrants issued per the private placement.","length":1516,"tagName":"p"},{"type":"text","content":"In addition, the Company would like to announce an expansion of its green industrial business segment, which currently has been focused on the environmental uses of hemp for construction and hemp for sustainable bio-energy sources. To achieve this, the Company has entered into a Commercialization Agreement (the "Agreement") with the developer of a next generation 3D house printing technology. Compared to existing 3D house printing systems, this new technology will be considerably less costly to develop, lighter, easier to transport from location to location, simpler and quicker to set up and take down, and does not require a level setting to operate.","length":668,"tagName":"p"},{"type":"text","content":"The benefits of 3D printed houses are numerous and align with the Company...