British Columbia-based hemp cultivation company Global Hemp Group (CSE: GHG) (FRANKFURT: GHG) (OTC: GBHPF) this morning announced that it has entered a purchase agreement with Cash Crop Today Media, LLC (“CCT”) to acquire a 50% equity interest in CCT. Per the terms of the agreement, Global Hemp Group will pay a total of $150,000 for its 50% interest in CCT, comprised of a cash payment of $60,000 and the issuance of 600,000 common shares to be delivered to CCT within 15 days of closing. The issued shares are subject to a customary one-year hold period. “Founder Dave Hill has been successful with similar models to Cash Crop in music and other industries, and we believe he will make Cash Crop Today the “go to” portal for investors in the hemp and cannabis space. We look forward to working with Dave and his associates and having them become a part of our GHG team,” Global Hemp Group CEO Charlie Larsen stated in the news release.
To view the full press release, visit http://ibn.fm/7lbZz
About Global Hemp Group Inc.
Global Hemp Group Inc. is headquartered in Vancouver, British Columbia, Canada, with base operations in Montreal and Los Angeles. The company 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 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. For more information, visit the company’s website at www.GlobalHempGroup.com.
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