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From: NetworkNewsWire (Rep: 0)Date: 03/07/2018 17:05
Forum: Penny Stocks - Msg #1346 - List GBHPF msgs Thread #673995912 (Rec: 0)
NetworkNewsBreaks – Global Hemp Group, Inc. (CSE: GHG) (FRA: GHG) (OTC: GBHPF) Closes $1.5M Private Placement

Hemp cultivation company Global Hemp Group, Inc. (CSE: GHG) (FRANKFURT: GHG) (OTC: GBHPF) this morning announced the closing of a non-brokered private placement consisting of 12.5 million units, sold at a price of $0.12 per unit, to raise aggregate gross proceeds of $1.5 million. Each unit consists of one common share of Global Hemp Group and one common share purchase warrant redeemable at a price of $0.15 per common share for a period of five years from closing. Insiders of the company subscribed for an amount of $371,542, or 24.8 percent of the total placement. Per the update, proceeds from the offering will be used for the development of the company’s New Brunswick hemp cultivation and extraction project, to fund due diligence on potential acquisitions and to bolster the company’s working capital reserves.

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