LOS ANGELES, CALIFORNIA--(Marketwired - Sept. 4, 2014) - GLOBAL HEMP GROUP INC. ("GHG" or the "Company")(OTCQB:GBHPF)(CSE:GHG)(FRANKFURT:GHG) announces the formation of subsidiary company Global Hemp BioScience, Inc. ("GH BioScience") is a research and development company tasked with developing profitable, hemp-based products, which include, but are not limited to: nutraceuticals, functional foods, cosmetics, pharmaceuticals, veterinary, and nutritional supplements. GH BioScience has already begun work on developing an intellectual property portfolio and anticipates filing of provisional patents by the end of the 2nd quarter of 2015.
The formation of Global Hemp BioScience is in keeping with GHG's holding company strategy. GH BioScience is a wholly owned Subsidiary of GHG that will operate autonomously and synergistically with other GHG portfolio companies.
Global Hemp BioScience is managed by Dr. Reid Jilek, as CEO, and Robert Richardson, as EVP and Chief R&D Officer. GH BioScience research and development laboratories will be based in the greater Los Angeles area. GH BioScience has already developed products and intends to either license out, joint venture, or sell its products to the healthcare, food or cosmetics industries. GH BioScience anticipates being profitable within 18 months of the completion of its laboratory.
GH BioScience's flagship product is our proprietary Hemp-based ingredient, which balances blood sugar levels, that will make a significant improvement in the health of individuals suffering from diabetic health challenges.
CEO Dr. Reid Jilek, says "Within my 35 years in the development of healthcare products, hemp-based products are the most unique in being able to be utilized in treating the widest varieties of consumer healthcare needs". Robert Richardson, Chief R&D Officer, says, "People are realizing that the foods they eat affect their health. GH BioScience will be aggressively introducing several of our whole food ingredients to major food manufacturing companies.
On behalf of the Board of Directors
Charles Larsen, Chairman & CEO
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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. 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.
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