Mr. Charles Larsen reports
GLOBAL HEMP GROUP ANNOUNCES CLOSING OF FIRST TRANCHE OF NON-BROKERED FINANCING
Global Hemp Group Inc. has closed the first tranche of the non-brokered private placement announced May 15, 2014. The company has now received subscriptions for a total of 4,668,104 units at a price of 10 cents per share, raising gross proceeds of $466,810.44 for working capital purposes. Ten million three hundred thirty-one thousand eight hundred ninety-six shares currently remain available for purchase in this private placement.
The units are composed of one common share at 10 cents and one share purchase warrant at a price of 15 cents, which expire 36 months from the date of distribution. Any securities issued as a result of the financing will be subject to a statutory hold period.
No finder's fees will be paid in relation to this round of financing.
We seek Safe Harbor.
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