Global Hemp Group announces update on hemp growing trials in New Brunswick
Vancouver, BC — (September 5, 2017) - Global Hemp Group Inc. (“GHG” or the “Company”) (CSE: GHG / OTC: GBHPF / FRA: GHG) an industrial hemp and cannabis corporation, is pleased to announce that it has established a Joint Venture (JV) with Marijuana Company of America, Inc. (OTC: MCOA) to participate in the development of its New Brunswick hemp project.
Under the terms of the Joint Venture, MCOA, a California based cannabis and hemp research and development company, whose business includes the marketing and distribution of hemp-based consumer wellness products, will assist GHG in developing commercial hemp production in New Brunswick (NB). In this first year of the JV, MCOA will share the costs of the ongoing hemp trial in NB; provide its expertise in developing hemp cultivation going forward; and, be granted a right of first refusal as GHG’s primary off-taker of any raw materials produced from the project. As recently announced, the Company has also partnered with Collège Communautaire du Nouveau Brunswick (CCNB) in Bathurst, New Brunswick to assist in conducting research with the hemp trials. The trials are taking place on the Acadian peninsula of NB, and the initial trials to establish commercial cultivation are expected to be finalized in 2018.
GHG’s Hemp Agro-Industrial Zone concept, or HAIZ, collaboratively produces and processes 100% of the hemp plant to produce a number of wholesale industrial materials, and ultimately high value cannabinoids like CBD, CBG and CBN. MCOA will become GHG’s preferred off taker for cannabinoids produced and extracted.
GHG’s ultimate goal is to produce greater social and environmental benefits for New Brunswick, and value for shareholders. This research trial will provide valuable information to refine the Company’s project designed to support and promote the expansion of the hemp industry into New Brunswick, through the development of the processing infrastructure required to take the industry to the next level. The HAIZ will provide market opportunities for farmers; create jobs in an economically depressed area; provide the opportunity to develop biodegradable products of superior quality; and, help support GHG’s commitment to creating a carbon free economy.
“We are very pleased to joint venture with Marijuana Company of America and to establish a primary off-taker so early in our New Brunswick trials, and to explore opportunities to do the same across Canada and the United States”, said CEO, Charles Larsen.
About Marijuana Company of America, Inc.
MCOA is a corporation engaged in business including, but not limited to: (1) product research and development of legal hemp-based consumer products containing CBD under the brand name “hempSMART™”, that targets general health and well-being; (2) an affiliate marketing program to promote and sell its legal hemp-based consumer products containing CBD; (3) leasing of real property to separate business entities engaged in the growth and sale of cannabis in those states and jurisdictions where cannabis has been legalized and properly regulated for medicinal and recreations use; and, (4) the expansion of its business into ancillary areas of the legalized cannabis and hemp industry, as the legalized markets and opportunities in this segment mature and develop.
About Global Hemp Group Inc.
Global Hemp Group Inc. (CSE: GHG) (OTC: GBHPF) (FRANKFURT: GHG), is focused on a multi-phased strategy to build a strong presence in the industrial hemp industry in both Canada and the United States. The Company is headquartered in Vancouver, British Columbia, with hemp cultivation operations in New Brunswick and Oregon. The first phase of this strategy is to develop hemp cultivation with the objective of extracting cannabinoids (CBD, CBG, CBN & CBC) and creating a near term revenue stream that will allow the Company to expand and develop successive phases of the strategy. The second phase of the plan will focus on the development of value-added industrial hemp products utilizing the processing of the whole hemp plant, as envisioned in the Company’s Hemp Agro-Industrial Zone (HAIZ) strategy.
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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.
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