Global Hemp Group Announces Acquisition of Cash Crop Today Media
Vancouver, British Columbia--(Newsfile Corp. - June 1, 2018) - GLOBAL HEMP GROUP INC. (CSE: GHG) (OTC Pink: GBHPF) (FSE: GHG) ("GHG" or the "Company") is pleased to announce that it has acquired a 50% equity interest in Cash Crop Today Media, LLC ("CCT") (http://cashcroptoday.com) pursuant to a purchase agreement entered between GHG and CCT (the "Agreement"), a global media company focused on the industrial hemp and cannabis sectors.
Pursuant to the terms of the Agreement, Global Hemp Group will pay a total of US$150,000 for its 50% interest in CCT, comprised of US$60,000 in cash and the issuance of 600,000 common shares of GHG (the "Shares"), valued at US$90,000 and to be delivered to CCT within 15 days of closing.
The Shares to be issued pursuant to the Agreement will be issued on the basis of a private placement, according to Canadian Stock Exchange (the "CSE") Policy 6. Such Shares are subject to a customary one-year hold period pursuant to the provisions of Rule 144 of the Securities Act of 1933.
Cash Crop Today Media is a global media, branding, and technology company that is focused on reporting the latest industry news related to investment information, entrepreneurship, politics, and technology from the industrial hemp and cannabis sectors. CCT offers an array of business to business and consumer marketing services such as digital media placement and advertising, curated video content development, management of social media campaigns, and regional, national, and international distribution. This past quarter Cash Crop Today has grown rapidly and currently has a total of 1.38 million views from visitors on their website monthly.
The Company has been observing CCT's progress over the last eight months and has been impressed with how far they have advanced their business model in that short time. There is a clear demand for investment information distribution focused on the rapidly emerging hemp and cannabis industries, but there are few portals that retail and institutional investors can consistently count on for breaking news and valuable investment information on these industries.
Charlie Larsen, GHG CEO, said "Founder Dave Hill has been successful with similar models to Cash Crop in music and other industries, and we believe he will make Cash Crop Today the "go to" portal for investors in the hemp and cannabis space. We look forward to working with Dave and his associates and having them become a part of our GHG team."
CCT will be hosting its first annual Investor & Business Resource Summit 2018 on June 8th and 9th at the Sofitel Hotel in Beverly Hills, California. The event will offer investors, entrepreneurs, business owners and Cash Crop Today Society Members an opportunity network with some of the pioneers of the hemp and cannabis industry and discuss their areas of expertise, experiences and unique perspectives. (http://cashcroptoday.com/ibrs)
"We are excited about the future of CCT. Partnering with Global Hemp Group will provide us with an array of resources previously not available to us. Our combined efforts will produce great success in this fast growing industry," said Dave Hill, CCT Founder.
About Global Hemp Group Inc.
Global Hemp Group Inc. (CSE: GHG) (OTC Pink: GBHPF) (FSE: GHG), is headquartered in Vancouver, British Columbia, Canada, with base operations in Montreal and Los Angeles. The Company is focused on a multi-phased strategy to build a strong presence in the industrial hemp industry in both Canada and the United States. The first phase of this strategy is to develop hemp cultivation with the objective of extracting cannabinoids (CBD, CBG, CBN & CBC) and creating a near term revenue stream that will allow the Company to expand and develop successive phases of the strategy. The second phase of the plan will focus on the development of value-added industrial hemp products utilizing the processing of the whole hemp plant, as envisioned in the Company's Hemp Agro-Industrial Zone (HAIZ) strategy.
About Cash Crop Today Media
Cash Crop Today Media is a global media, branding, and technology company that is focused on reporting the latest industry news related to public and private companies, politics, technology, investment knowledge and entrepreneurship related to the cannabis and industrial hemp sectors. CCTM offers an array of business to business and consumer marketing services such as digital media placement and advertising, curated video content development, management of social media campaigns, and regional, national, and international distribution.
For more information, visit http://globalhempgroup.com
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.
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.