GBHPF - Global Hemp Group Announces Cancellation and Issuance of Options
(TheNewswire)
Vancouver, BC – TheNewswire - January27, 2021 - GLOBAL HEMP GROUPINC. (“GHG” or the “Company”) (CSE: GHG ) / ( OTC:GBHPF ) / ( FRANKFURT:GHG) (CNSX:GHG.CN) announces that 2,500,000 previously issued stock optionsgranted to Directors, management and consultants on September 24, 2018covering 2,500,000 shares have been cancelled. The exercise price ofthe cancelled stock option agreements was $0.16 per share. The stock options were voluntarily surrendered by theholders for no consideration.
The Company also reported that it has granted new stockoptions to Directors, management and consultants aggregating 2,500,000common shares exercisable at a price of $0.06 per share under itsstock option plan. The options vest at the date of grant and have aterm of five years. None of the options were granted to individualsincluded in the above cancellation.
The issuance of the options is subject to the CSEapproval.
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Global Hemp Group Inc.(CSE: GHG / OTC: GBHPF / FRANKFURT: GHG), is focused on a multi-phasedstrategy to build a strong presence in the industrial hemp industrythe United States. The Company is headquartered in Vancouver, BritishColumbia, with hemp cultivation operations in the state of Oregon. Thefirst phase of this strategy is to develop hemp cultivation forextraction of cannabinoids and the smokable CBG flower market with theobjective of creating a near term revenue stream. The second phase ofthe strategy focuses on the development of value-added industrial hempproducts utilizing the processing of the entirety of the hemp plant,as envisioned in the recently announced Colorado Hemp Agro-IndustrialZone (HAIZ) project. Global Hemp’sResearch and Development Division headed by Prof. Víctor M. Castaño,Ph.D . Prof. Castaño, a recognized leader inseveral areas of applied science and technology brings an amazingwealth of knowledge and experience in a number of differentdisciplines. There are three immediate areas of interest that Prof.Castaño and his team will actively be focused on to developIntellectual Property that can be patented and implemented in the hempand/or building industry, and in particular at Company’s newlyannounced Colorado Hemp Agro-Industrial Zone.
For FurtherInformation Contact Global Hemp Group
Tel:424-354-2998
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 toupdate or revise any forward looking statements to reflect actualresults, whether as a result of new information, future events, changes in assumptions, changes infactors affecting such forward looking statements or otherwise.
The CSE has not reviewed and doesnot accept responsibility for the adequacy or accuracy of thisrelease.
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