Global Hemp Group Announces Oversubscription of Financing Round
March 27 2014 - 9:00AM
Marketwired
Global Hemp Group Announces Oversubscription of Financing Round
SURREY, BRITISH COLUMBIA--(Marketwired - Mar 27, 2014) - 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.
Global Hemp Group, Inc.Charles LarsenChairman &
CEO604-592-6881Frankfurt 49.69.173 226 6672
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