Vancouver, BC – TheNewswire – August 23, 2021 – International HEMP Group INC. (“GHG” or the “Company”) (CNSX:GHG.CN) (OTC:GBHPF) (FRANKFURT:GHG) announces that in accordance with specific objectives for the HEMP AGRO-INDUSTRIAL ZONE (HAIZ) project, a 3rd acquisition contract for 664 acres of contiguous land is now completely executed. This brings the recent whole land assemblage to 874+ strategic acres closed or underneath definitive contract by the Company for progress of the HAIZ task in the northwestern Colorado city of Hayden.
The Company’s to start with acquisition was the 44+ acre annexed and zoned industrial/commercial internet site (see the Company’s information launch of Might 10 for more details) as the property for a centralized processing/production centre at its Hemp Agro-Industrial Zone (HAIZ) closed on June 15, 2021. The Company’s next acquisition was a 166+ acre annexed assets for improvement of very affordable housing, now below “hard” contract pending closing. This 3rd agreement encompassing 664 acres of the complete 874-acre assemblage will develop GHG’s offered hemp farming acreage in the in close proximity to term and will offer for the phased construction of inexpensive residences in the context of a Prepared Device Development (PUD) matter to acceptance by the Town of Hayden. This 664-acre house is contiguous to the 166 acre annexed land parcel (see the Company’s news launch of Could 17 for further more aspects), earning 830 acres readily available for the enhancement of economical houses in excess of the Company’s 20+ year enhancement horizon for the challenge.
In collaboration with Western Sierra Source Corporation (OTC:WSRC) this “vertically integrated” project contemplates the useful use of sizeable existing h2o means to irrigate and cultivate industrial hemp course of action and benefit from hemp in the on-internet site production of inexperienced renewable building products and solutions and finally, to develop cost-effective carbon neutral/carbon detrimental housing – all in a person locale under the Company’s master program. The Company’s eyesight for the Hemp Agro-Industrial Zone sophisticated on the initially 44-acre web site lately obtained, is to establish a “showcase” location for its vendor/associates in agriculture, study and development, light-weight producing, a array of relevant commercial items and eco-friendly technologies, and housing – all of which is designed to compliment the city of Hayden by even more producing employment chance and raising company income for the community.
Earnest money in the volume of US$200,000 will be deposited to the title organization on or before August 31, 2021. Subject matter to completion of satisfactory due diligence on or prior to September 30, 2021, the earnest income will develop into non-refundable, and the buy will be scheduled for closing, with final payments for the assets payable on or prior to April 1, 2022.
Land Organizing and Engineering Firms have been engaged by the Business which are now finalizing ideas for a big-scale warehouse, decortication facility, manufacturing facility, showroom with administrative offices, and design properties. Greenhouses and affiliated laboratory amenities for analysis and progress will also be section of the land-use layout prepare.
To fund this acquisition and the ongoing progress of the Colorado Green Neighborhood, the Organization announces that it is proceeding with a funding of up to $1. million of non-brokered 7.% Secured Convertible Debentures with continued robust and reliable aid of non-public corporate creditors. The Debentures will have a Maturity Date of September 8, 2023 and shall bear present fascination at the charge of 7.% for every annum, payable for the interval commencing on the Closing Date and ending on the before of the Maturity Day or the day the Debenture is transformed into models (“Units”). An preliminary closing of this Secured Convertible Debenture financing is anticipated prior to August 31st with a second and ultimate closing on or about Sept15th. A finder’s cost may be payable to qualified finder’s or brokers for each CSE rules.
Each $1,000 principal total of Debenture is convertible, at the possibility of the holder, into Units consisting of 20,000 common shares of the Issuer (just about every a “Common Share”), issued at a price tag of $.05 for each Common Share (the “Conversion Price”), and 20,000 detachable common share acquire warrant (every a “Warrant”), every Warrant entitling the holder to get 1 added Widespread Share an exercising price tag of $.05 at any time following the day of issuance and prior to the close of company on the last business enterprise day prior to the Maturity Date.
The warrants will be outlined for investing on the Canadian Securities Trade (the “CSE”) and will have similar conditions to the at present shown warrants trading less than the ticker image GHG.WT. In the celebration that the Issuer’s popular shares trade on the CSE (or this sort of other trade on which the popular shares might be traded at this sort of time) at a volume weighted common price tag of $.12 for every frequent share or more for a time period of ten (10) consecutive trading days, the Issuer might, in its sole discretion, accelerate the expiry date of the warrants by giving discover to the holders thereof and, in these types of situation, the warrants will expire on the 30th working day immediately after the day on which these discover is presented to the holder by the firm.
On July 12, 2021, the Organization announced that it had closed the last tranche of a Secured Convertible Debenture with similar phrases as earlier mentioned. To day, the holders of the past Secured Convertible Debenture problem have by now converted $1.2 million of the first $1.5 million issued per the terms higher than leaving the enterprise nearly credit card debt free from this situation.
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About World-wide Hemp Group Inc.
International Hemp Group Inc. (CSE: GHG / OTCQB: GBHPF / FRANKFURT: GHG) is targeted on a executing a multi-phased strategy of turning out to be a leader in the progress and advertising of the industrial hemp technologies business in the United States and further than. The Business is headquartered in Vancouver, British Columbia. The recent phase of the tactic focuses on the enhancement of “sustainable” and “green” benefit-added industrial hemp items making use of the processing of the entirety of the hemp plant for multi-merchantable purposes, as will be showcased in the Colorado Hemp Agro-Industrial Zone (HAIZ) task.
To additional help and innovate the HAIZ, Global Hemp Team has proven a Study and Progress Division to actively pursue the progress of Mental Property that can be patented for implementation at its assignments and over and above. The Division is led by Prof. Víctor M. Castaño, Ph.D. from the National Autonomous College of Mexico (UNAM), a very recognized chief in areas of used science and technologies. The R&D team brings an awesome prosperity of understanding and practical experience in various disciplines and will to begin with emphasis on advancement of Environmentally-Friendly Construction Materials, Nanofertilizers and Increased Extraction from Hemp.
For Further Information Get in touch with Global Hemp Group
Curt Huber, President
Cautionary Notice Regarding Ahead Looking Statements
Certain information set forth in this information release may possibly comprise forward-searching statements that include sizeable acknowledged and unfamiliar risks and uncertainties. These ahead-hunting statements are subject matter to many threats and uncertainties, specific of which are past the control of World Hemp Group Inc., like, but not minimal to the effects of common financial disorders, industry conditions, volatility of commodity charges, currency fluctuations, dependence upon regulatory approvals, the availability of future financing and exploration risk, the legality of cannabis and hemp. Readers are cautioned that the assumptions used in the planning of these facts, though regarded realistic at the time of planning, may perhaps show to be imprecise and, as this kind of, undue reliance must not be put on ahead-searching statements. Besides as needed by legislation, World-wide Hemp Group Inc. disclaims any intention and assumes no obligation to update or revise any forward seeking statements to reflect true effects, no matter whether as a end result of new information, long run functions, modifications in assumptions, changes in factors affecting these kinds of ahead on the lookout statements or or else.
The CSE has not reviewed and does not settle for accountability for the adequacy or accuracy of this launch.