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Posted On: 05/01/2018 6:19:17 PM
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NetworkNewsBreaks – Global Hemp Group, Inc. (CSE: GHG) (FRA: GHG) (OTC: GBHPF) and Marijuana Company of America, Inc. (MCOA) Acquire Property in Oregon for Hemp Cultivation
British Columbia-based hemp cultivation company Global Hemp Group (CSE: GHG) (FRANKFURT: GHG) (OTC: GBHPF) this morning announced that the company, together with its partner Marijuana Company of America (OTC: MCOA), has acquired a 109-acre agricultural property for the cultivation of high CBD yielding hemp for the approaching 2018 growing season. The Scio, Oregon property contains a high level of organic matter in the soil, ideal for hemp cultivation, and has a history of hemp cultivation over the last two growing seasons. The companies acquired the property for US $1.1 million, which is comprised of a cash down payment of $130,000 and the issuance of 2,100,000 common shares of Global Hemp Group valued at $275,000, to be delivered within 15 days of closing. Each company contributed half of the down payment and MCOA is also contributing a cash payment of $137,500, equal to one-half of the value of GHG’s stock consideration, that will be paid from the profits produced from the project during the first year of operations.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
British Columbia-based hemp cultivation company Global Hemp Group (CSE: GHG) (FRANKFURT: GHG) (OTC: GBHPF) this morning announced that the company, together with its partner Marijuana Company of America (OTC: MCOA), has acquired a 109-acre agricultural property for the cultivation of high CBD yielding hemp for the approaching 2018 growing season. The Scio, Oregon property contains a high level of organic matter in the soil, ideal for hemp cultivation, and has a history of hemp cultivation over the last two growing seasons. The companies acquired the property for US $1.1 million, which is comprised of a cash down payment of $130,000 and the issuance of 2,100,000 common shares of Global Hemp Group valued at $275,000, to be delivered within 15 days of closing. Each company contributed half of the down payment and MCOA is also contributing a cash payment of $137,500, equal to one-half of the value of GHG’s stock consideration, that will be paid from the profits produced from the project during the first year of operations.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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