Global Hemp closes private placement for $300,000 Global Hemp closes private placement for $300,000
Ticker Symbol: C:GHG
Global Hemp closes private placement for $300,000
Global Hemp Group Inc (C:GHG)
Shares Issued 117,916,860
Last Close 4/3/2014 $0.125
Friday April 04 2014 - News Release
Mr. Charles Larsen reports
GLOBAL HEMP GROUP ANNOUNCES CLOSING OF NON-BROKERED FINANCING
Global Hemp Group Inc. has closed its non-brokered private placement first announced March 26, 2014. The company has now received subscriptions for a total of three million units at a price of 10 cents per unit, raising gross proceeds of $300,000 for working capital purposes.
The units are composed of one common share at 10 cents and one share purchase warrant at a price of 15 cents, which expire 24 months from the date of distribution. Any securities issued as a result of the financing will be subject to a statutory hold period.
Finders' fees will be paid in relation to the financing through the issuance of 98,800 finders' warrants, having the same terms as the share purchase warrants, plus a cash payment of $9,880 representing 8 per cent of the subscription value of the found subscribers.