GBHPF - Global Hemp Group +115% to acquire control over strategic water infrastructure assets in Colorado

Global Hemp Group ([[GBHPF]] +114.8%) to acquire Prescient Strategies Group's Western Sierra Resource or WSRC preferred shares.This will give the company control over WSRC and its strategic water infrastructure assets that will be an integral part of the Company’s Colorado Hemp-Agro Industrial Zone project as originally announced on September 16, 2020. The company intends to conduct a 3rd party value assessment, whereas March 2017 appraisals support a value of $40M or higher.On signing of the agreement, GHG will acquire ~11M unencumbered WSRC prefs from same number of GHG Preferred B shares.Prescient Strategies Group currently holds ~19.9M Series A WSRC Prefs, of which the remaining ~8.9M  have been pledged as collateral to secure ~$3.8M loans to WSRC.As part of the contemplated transaction, GHG will issue 10M common share purchase warrants to PSG.The parties completing final due diligence on or before January 25, 2021.

For further details see:

Global Hemp Group +115%, to acquire control over strategic water infrastructure assets in Colorado