Global Hemp Group Announces Oversubscription of Financing Round
March 27 2014 - 8:00AM
Marketwired Canada
GLOBAL HEMP GROUP INC. ("GHG" or the "Company") (CSE:GHG)(FRANKFURT:ANI) is
pleased to announce that its previously announced private placement of three
million units at a price of $.10 per unit (the "Units") was oversubscribed and
the financing is now closed for additional commitments.
The Company received commitments in excess of the amount it sought to raise. The
Company expects gross proceeds of CAD$300,000.00 (the "Financing"). The Company
expects that the closing will take place on or around March 31, 2014.
The Company will issue 3,000,000 Units with each Unit consisting of one common
share in the equity of GHG and one share purchase warrant (the "Warrant"). Each
Warrant entitles the holder to purchase one additional common share at a price
of $.15 per share for a period of twenty four (24) months after the close of the
Financing. Any securities issued as a result of this Financing will be subject
to a statutory hold period.
The funds raised from the Financing will be primarily used for working capital.
There may be finder's fees and finders warrants paid in relation to this
Financing. Finder's warrants will bear the same terms and conditions as the
Warrants. Completion of the Financing is subject to the completion of formal
documentation and may be subject to regulatory approval.
To view Global Hemp Group, Inc. on the Canadian Securities Exchange under symbol
GHG click HERE.
To view Global Hemp Group, Inc. on the Boerse-Frankfurt Exchange/XETRA exchange
under symbol ANI click HERE.
U.S. investors can purchase symbol "GHG" on the Canadian Securities Exchange or
symbol "ANI" on the Boerse-Frankfurt Exchange and XETRA Exchange. These shares
are made available through your preferred U.S. Stock Broker.
On behalf of the Board of Directors
Charles Larsen, Chairman & CEO
To view Global Hemp Group Holdings Inc. on the Canadian Securities Exchange
under symbol GHG. To view Global Hemp Group Holdings Inc. on the
Boerse-Frankfurt Exchange under symbol ANI. U.S. investors can purchase under
symbol "GHG" on the Canadian Stock Exchange or symbol "ANI" on the
Boerse-Frankfurt Exchange. These shares are made available through your
preferred Stock Broker.
This press release, required by applicable Canadian laws, is not for
distribution to U.S. news services or for dissemination in the United States,
and does not constitute an offer of the securities described herein. These
securities have not been registered under the United States Securities Act of
1933, as amended, or any state securities laws, and may not be offered or sold
in the United States or to U.S. persons unless registered or unless an exemption
from such registration is applicable.
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 Holdings 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. 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 CNSX has not reviewed and does not accept responsibility for the adequacy or
accuracy of this release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Global Hemp Group, Inc.
Charles Larsen
Chairman & CEO
604-592-6881
Frankfurt 49.69.173 226 6672
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