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March 18, 2025 8:00 AM EDT | Source: Global Hemp Group Inc.
Vancouver, British Columbia–(Newsfile Corp. – March 18, 2025) – Global Hemp Group Inc. (CSE: GHG) (OTC Pink: GBHPF) (FSE: GHG) (“GHG” or the “Company”) is pleased to announce that it intends to complete a non-brokered private placement of up to 14,000,000 units (each a “Unit”) at $0.031 per Unit for gross proceeds of up to $434,000 (the “Offering”). Each Unit is comprised of one common share in the capital of the Company (each a “Common Share”) and one non-transferable Common Share purchase warrant (each a “Warrant”). Each Warrant entitles the holder to acquire one Common Share at a price of $0.10 per share, exercisable until March 24, 2028. All securities issued under the Offering, including securities issuable on exercise thereof, will be subject to a hold period expiring 4 months and one day after issuance, in accordance with the rules and policies of the Canadian Securities Exchange and applicable Canadian securities laws. The Company intends to use the net proceeds from the Offering for general working capital purposes. It is anticipated that this placement will close in multiple tranches, with the first tranche of $75,000 for 2,419,354 Units expected to close in a week. The Company may pay a finder’s fee to qualified arm’s-length third parties consisting of a cash commission of up to 8% of the gross proceeds of the private placement and 8% broker warrants on the same terms as warrants issued per the private placement.
In addition, the Company would like to announce an expansion of its green industrial business segment, which currently has been focused on the environmental uses of hemp for construction and hemp for sustainable bio-energy sources. To achieve this, the Company has entered into a Commercialization Agreement (the “Agreement”) with the developer of a next generation 3D house printing technology. Compared to existing 3D house printing systems, this new technology will be considerably less costly to develop, lighter, easier to transport from location to location, simpler and quicker to set up and take down, and does not require a level setting to operate.
The benefits of 3D printed houses are numerous and align with the Company’s strategic direction. In most cases 3D printed houses can be constructed more quickly, with fewer resources, which reduces construction costs and makes homes more affordable. Additionally, this technology offers greater customization and design flexibility, as 3D printers can create complex shapes and curves that are challenging to achieve with traditional methods. Furthermore, 3D printed houses can be built using more sustainable and environmentally friendly materials, which helps minimize the environmental impact of construction. Although 3D printed houses is a relatively new technology, it is gaining significant traction in recent years as the technology becomes more advanced and cost-effective. As demand for affordable, sustainable, and customizable housing continues to rise, 3D-printed houses are likely to become a more popular choice for home construction. A recent media segment highlighted a 100-house community in Texas that was constructed using a 3D house printer, which showcased the potential of this technology in large-scale developments. Also, according to a recent report from Global Information Inc., the 3D printed homes market “is poised to grow from US$59.93 million in 2024 to approximately US$2.9 billion by 2032, growing at a CAGR of 62.4% during the forecast period,” demonstrating a growing acceptance of this new technology.
Initial discussions with a number of large residential home builders have met with a favourable response. At this time, for competitive advantage reasons, the Company must limit the public information presented on this project until after certain commitments are fulfilled, which are expected to be completed within the next 30 days. The Company will look to provide an update on the project upon completion of these commitments.
In addition to the developer’s research on the use of hemp fibre in the mixture for the printer, GHG’s R&D Division will begin research this month on a number of different forms of environmentally friendly cement that could be utilized in 3D house printers. Prof. Victor Castaño, the head of the R&D Division, has assembled a team of Ph.D. candidates to assist him in this research endeavour.
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.
About Global Hemp Group Inc.
Global Hemp Group Inc. (CSE: GHG) (OTC Pink: GBHPF) (FSE: GHG) is currently focused on two key business segments – Industrial Hemp and Health & Wellness (Biopharma). The Industrial Hemp division’s primary focus lies in the environmental uses of hemp for construction and hemp for sustainable bio-energy sources, both contributing to a carbon-negative footprint. The Health and Wellness Division is focused on the acquisition of exclusive licensing of patents and IP. The Company’s R&D Division, lead by Prof. Víctor M. Castaño, a prominent figure in applied science and technology from the National Autonomous University of Mexico, focuses on GHG’s broader strategy to leverage the growing opportunities in the industrial hemp sector.
Cautionary Note Regarding Forward-Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Global Hemp Group Inc., including, but not limited to, the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, dependence upon regulatory approvals, the availability of future financing and exploration risk, and the legality of cannabis and hemp. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Except as required by law, Global Hemp Group Inc. disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/245033
SOURCE: Global Hemp Group Inc.
“}]] Vancouver, British Columbia–(Newsfile Corp. – March 18, 2025) – Global Hemp Group Inc. (CSE: GHG) (OTC Pink: GBHPF) (FSE: GHG)… Read More
