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Global Hemp Group Completes Due Diligence on 664 Acre Property and Initiates Detailed Design Strategies for Its Planned Green Community in Hayden Colorado

C.GHG

(TheNewswire)



Vancouver, BC – TheNewswire - September 24, 2021 - GLOBAL HEMP GROUP INC. (“GHG” or the “Company”) (CSE:GHG) / (OTC:GBHPF)/ (FRANKFURT:GHG) / (CNSX:GHG.CN)is pleased to announce that Management has completed its final due diligence on its latest strategic land acquisition, a 664 acre parcel for its Planned Green Community in Hayden, Colorado.

With the completion of the due diligence, the US$200,000 earnest money that had previously been advanced on the contract (for further details see the GHG news release of September 7, 2021) has become non-refundable. The next step in the transaction requires the vendors to put the title deed to the property in escrow with the Title Company, which will give the Company equitable title on to the acreage. Upon completion of this next step, the purchase will be scheduled for closing with final payments payable on or before April 1, 2022.

In collaboration with Western Sierra Resource Corporation (OTC:WSRC), this Planned Green Community is a “vertically integrated” project and contemplates the beneficial use of substantial existing water resources to cultivate irrigated industrial hemp; process the hemp in the on-site manufacturing of green renewable construction products; and finally, to build affordable carbon neutral/carbon negative housing – all in one location under the Company’s Master Plan.

ADDING TO THE TEAM OF LOCAL PROFESSIONALS

Human resources are a critical component of the Company’s Planned Green Community in Hayden Colorado. The continued and long-term expansion of this extensive project presents unique career opportunities for the local community. With innovative system designs to be implemented in agriculture, engineering, hydrology, engineering, architecture, processing, manufacturing and construction, the Company is actively seeking team members from among the wealth of local talent for input and collaboration.

To date, Management has engaged Planners, Engineers and Manufacturing Design Specialists and is in discussions with architects to ready the platform from which physical development of the core elements of the project can be launched. These professionals are currently assisting the Company through the mechanics and subsequent approval of this 874+ acre Master Plan.

To that end, the Company, it’s Planners, and Engineers are working closely with the Town of Hayden to coordinate specific details of a phased land use plan that complies with existing annexation agreements and compliments the growth and economic objectives of the Community.

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About Global Hemp Group Inc.

Global Hemp Group Inc.(CSE: GHG / OTCQB: GBHPF / FRANKFURT: GHG)is focused on a executing a multi-phased strategy of becoming a leader in the development and promotion of the industrial hemp technology industry in the United States and beyond. The Company is headquartered in Vancouver, British Columbia. The current phase of the strategy focuses on the development of “sustainable” and “green” value-added industrial hemp products utilizing the processing of the entirety of the hemp plant for multi-merchantable applications, as will be showcased in the Colorado Hemp Agro-Industrial Zone (HAIZ) project.

To further support and innovate the HAIZ, Global Hemp Group has established a Research and Development Division to actively pursue the development of Intellectual Property that can be patented for implementation at its projects and beyond. The Division is led by Prof. Víctor M. Castaño, Ph.D. from the National Autonomous University of Mexico (UNAM), a highly recognized leader in areas of applied science and technology. The R&D team brings an amazing wealth of knowledge and experience in multiple disciplines and will initially focus on development of Environmentally-Friendly Construction Materials, Nanofertilizers and Enhanced Extraction from Hemp.

For Further Information Contact Global Hemp Group

Curt Huber, President

Tel: 778-726-2900

info@globalhempgroup.com

www.globalhempgroup.com

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, 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.

Copyright (c) 2021 TheNewswire - All rights reserved.