Global Hemp Group Inc. announced a non-brokered private placement of up to 15,000,000 units at a price of CAD 0.05 per unit for gross proceeds of up to CAD 750,000 on January 15, 2024. Each unit is comprised of one common share and one non-transferable common share purchase warrant. Each warrant entitles the holder to acquire one common share at a price of CAD 0.10 per share, exercisable until January 15, 2027.

The transaction will close in multiple tranches, with the first tranche of CAD 67,500 for 1,350,000 units expected to close in one week. All securities issued under the offering, including securities issuable on exercise thereof, will be subject to a hold period expiring 4 months and one day after issuance, in accordance with the rules and policies of the Exchange and applicable Canadian securities laws. The company may pay certain eligible finder?s a fee equal to 8% of the gross proceeds from the offering and issue warrants, equal to 8% of the total number of units sold.