SURREY, BRITISH COLUMBIA--(Marketwired - April 11, 2014) - GLOBAL HEMP GROUP INC. ("Global Hemp Group" or the "Company") (CSE:GHG)(FRANKFURT:GHG) is pleased to announce that on April 10th, 2014, the Company reached agreements with certain of its creditors to settle an aggregate total of $233,258 of debt via issuance of 2,332,580 Common shares of the Company, having a deemed value of $0.10 per Share (the "Shares for Debt Settlement").
Closing for the Shares for Debt Settlement is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals as may be required.
On behalf of the Board of Directors
To view Global Hemp Group, Inc. on the Canadian Securities Exchange under symbol GHG click HERE.
To view Global Hemp Group, Inc. on the Boerse-Frankfurt Exchange/XETRA exchange under symbol GHG click HERE.
U.S. investors can purchase under symbol "GHG" on the Canadian Securities Exchange or on the Boerse-Frankfurt Exchange and XETRA Exchange. These shares are made available through your preferred U.S. Stock Broker.
This press release, required by applicable Canadian laws, is not for distribution to U.S. news services or for dissemination in the United States, and does not constitute an offer of the securities described herein. These securities have not been registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States or to U.S. persons unless registered or unless an exemption from such registration is applicable.
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.
The CNSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.