Global Hemp Group issues warrants
Vancouver, BC — (December 12, 2018) - Global Hemp Group Inc. (“GHG” or the “Company”) (CSE: GHG / OTC: GBHPF / FRA: GHG) announces that it will issue to Officers, Directors and Consultants of the Company, as compensation for services rendered to the Company, an amount of 18,000,000 common share purchase warrants (the “Warrants”), each Warrant entitling the holder to purchase one common share in the share capital of the Company (the “Common Shares”) at a price of $0.12 per Common Share for a period of five years from the date of issuance.
It is Global Hemp Group’s policy to provide compensation to the members of its team in cash and securities. In order to conserve capital during the building phase of its hemp projects over the last four years, Management committed to not take regular ongoing compensation during this period. With the issuance of these warrants, Global Hemp will be able to defer payment of
certain obligations and receive continuing services from its team.
These warrants will vest 40.0% on issuance, 30.0% on December 15, 2019 and 30.0% on December 15, 2020. Securities issued in connection with this transaction is subject to a 4-month and one day hold period.
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.
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.