GBHPF - Global Hemp Group Advances Earnest Money for its 664 Acre Property Required for Long Term Development of its Planned Green Community in Hayden Colorado
(TheNewswire)
Vancouver, BC - TheNewswire - September 7, 2021 - GLOBAL HEMP GROUP INC. (“GHG” or the“Company”) ( C NSX :GHG . CN) I OTC:GBHPF ) ( FRANKFURT:GHG ) is pleased to announce that the Companyhas advanced e arnest money in the amount ofUS$200,000 for the contract on the acquisition of its third strategicproperty for its Planned Green Community in Hayden, Colorado. Subjectto completion of acceptable due diligence on this key 664 acre parcelon or before September 30, 2021, the earnest money will becomenon-refundable, and the purchase will be scheduled for closing, withfinal payments payable on or before April 1, 2022.
In collaboration with Western Sierra ResourceCorporation (OTC:WSRC), this Planned Green Community is a“vertically integrated” project and contemplates the beneficialuse of substantial existing water resources to cultivate irrigatedindustrial hemp; process the hemp in the on-site manufacturing ofgreen renewable construction products; and finally, to buildaffordable carbon neutral/carbon negative housing – all in onelocation under the Company’s Master Plan.
LOCAL PROFESSIONALS ENGAGED
For the development of the Company’s Master Plan, anumber of quality local professionals have nowbeen engaged to assist in the design and engineering in the variouscomponents of this 874-acre project Master Plan. To date, the Companyhas begun working with Patten Associates, Inc., Four Points Surveying and Engineering, andWestern Bionomics Inc.
Patten Associates, Inc.(PAI) is a professional consulting firm withoffices in Colorado Springs and Steamboat Springs, Colorado. PAI’sobjective is to provide creative project management, landplanning and design solutions working collaboratively with its clientsand the consultant team, resulting indevelopment which respects the natural environment, is consistent withcommunity planning and design objectives, and provides a reasonablefinancial return to investors.
Four Points Surveying andEngineering is a full service engineering anddevelopment firm based in Steamboat Springs, Colorado. Four Points SEprovides services for any phase of a project from inception throughcompletion. They provide, Civil Engineering,Land Surveying, Site Planning, Site Design, Erosion Control andDrainage, Construction Management and Project Management. With over20+ years of experience in engineering, surveying, construction andland development within Routt County and five years on the FrontRange, Four Points SE assists Companies in planning, designing andconstructing projects.
Western Bionomics has provided natural resource consulting services inSteamboat Springs and the Rocky Mountain West since 1994. Theyprovide expertise to private, public, and government entities in thedisciplines of wetland and wildlife biology, with experienceconducting Clean Water Act Section 404 Permitting, NEPA Wildlife,Botany, & Wetland Analyses, Phase I Environmental Site Assessmentsfor Real Estate, Baseline Documentation Reporting for ConservationEasements, Wildlife Management Planning, and Public Land Permitting.
The Company, it’s Planners, and Engineers are workingclosely with the Town of Hayden to coordinate a land use plan thatcomplies with existing annexation agreements and compliments thegrowth and economic objectives of the Community.
INITIAL DEVELOPMENT INFORMATION OFTHE ACREAGE PACKAGES ACQUIRED TO DATE
Project Area 1 (X-West). 44.84 Acres.
The first phase, and the heart of the HempAgro-Industrial Zone (HAIZ) is envisioned as a well landscaped andirrigated 7.7 acre Industrial Campus containing a 26,000 square footprocessing/manufacturing facility; a 12,000 square foot decorticationfacility; a 10,000 square foot showroom and two model homes.
The second phase of the Hemp Agro-Industrial Zone(HAIZ), consists of an 11.2 acre agricultural testing and developmentsite containing a 24,000 square foot greenhouse and laboratoryfacility; and 10 acres of irrigated outdoor industrial hempcultivation for research.
The third through sixth phases (encompassing 17.65acres) of this 44-acre project will be made available for manufactureof various other hemp-based products and technologies involvingcollaborative relationships with the Company’s vendor/partners.
Project Area 2 (Phase I). 166 Acres
Affordable housing. The current land use plan for these166 acres contemplates up to 5 phased filings averaging 45 dwellingsper filing (or 225 total single family dwelling units); with eachfiling buffered by open space areas and water features. The specificnumber of residential units will be subject to Town review and designapproval of the finished subdivision plat.
Project Area 3 (FuturePhases). 664 Acres
Large scale hemp production. Contiguous with ProjectArea 2 (site of the 166-acre affordable housing portion of theproject) the 664 acres will be used to cultivate irrigated industrialhemp which will be processed at Project Area 1,(decortication/processing/and manufacturing facility). Processedmaterials (hurd and fiber) will then be used to manufacturevalue-added products (hemp blocks and panels) for use on-site in theconstruction of affordable homes (Project Area 2). Surplus materialsand finished products will be sold and transported to othermanufacturers and builders by truck or rail.
Being contiguous to Project Area 2, and with waterdelivery infrastructure already in place on this property, ProjectArea 3 also provides the land necessary for expansion of affordable housing to 2,969 dwelling units or more.Additional land will be systematically acquired and irrigated withinthe Company’s water infrastructure service area to increase hempcultivation acreage as the project matures in years 2 through 5.
Further to the Company’s news release of August 23,2021 , the Company is pleased to announcethat it has closed the first tranche of its Secured ConvertibleDebenture for gross proceeds of $500,000. A second and final trancheof $500,000 is expected to close on or before September 15, 2021.Further, the holder of the Secured Convertible Debenture has converted$500,000 per the terms outlined in the above noted newsrelease.
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About Global Hemp Group Inc.
Global Hemp GroupInc. ( CSE:GHG / OTCQB: GBHPF / FRANKFURT: GHG ) is focused on a executing a multi-phasedstrategy of becoming a leader in the development and promotion of theindustrial hemp technology industry in the United States and beyond.The Company is headquartered in Vancouver, British Columbia. Thecurrent phase of the strategy focuses on the development of“sustainable” and “green” value-added industrial hemp productsutilizing the processing of the entirety of the hemp plant formulti-merchantable applications, as will be showcased in the Colorado HempAgro-Industrial Zone (HAIZ) project.
To further support and innovate the HAIZ, Global HempGroup has established a Research and DevelopmentDivision to actively pursue the developmentof Intellectual Property that can be patented for implementation atits projects and beyond. The Division is led by Prof. Víctor M.Castaño, Ph.D. from the National AutonomousUniversity of Mexico (UNAM), a highly recognized leader in areas ofapplied science and technology. The R&D team brings an amazingwealth of knowledge and experience in multiple disciplines and willinitially focus on development of Environmentally-FriendlyConstruction Materials, Nanofertilizers and Enhanced Extraction fromHemp.
For FurtherInformation Contact Global Hemp Group
Curt Huber,President
Tel:778-726-2900
info@globalhempgroup.com
Cautionary NoteRegarding Forward Looking Statements
Certain information set forth inthis news release may contain forward-looking statements that involve substantial known andunknown risks and uncertainties. These forward-looking statements aresubject to numerous risks and uncertainties, certain of which are beyond the control of GlobalHemp Group Inc., including, but not limited to the impact of general economic conditions, industryconditions, volatility of commodity prices, currency fluctuations,dependence upon regulatory approvals, the availability of futurefinancing and exploration risk, the legality of cannabis and hemp.Readers are cautioned that the assumptions used in the preparation of such information, althoughconsidered reasonable at the time of preparation, may prove to beimprecise and, as such, unduereliance should not be placed on forward-looking statements. Except as required by law, GlobalHemp Group Inc. disclaims any intention and assumes no obligation to update or revise anyforward looking statements to reflect actual results, whether as aresult of new information, future events, changes in assumptions,changes in factors affecting such forward looking statements orotherwise.
The CSE has not reviewed and doesnot accept responsibility for the adequacy or accuracy of thisrelease.
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