Global Hemp Group Applies for Partial Revocation Order and Announces Proposed Financing

Core Viewpoint - Global Hemp Group Inc. has applied for a Partial Revocation Order from the British Columbia Securities Commission to address a failure-to-file cease trade order issued due to non-compliance with continuous disclosure requirements [1][2]. Financing Details - The Company plans to conduct a non-brokered private placement financing of up to 16,000,000 units at a price of $0.025 per unit, aiming for gross proceeds of approximately $400,000 [2]. - Each unit will consist of one common share and one warrant, with the warrant allowing the purchase of an additional common share at $0.05 for five years [2]. Use of Proceeds - Proceeds from the Proposed Financing will be allocated to pay fees to auditors and service providers, fulfill operational commitments, and cover operating expenses to maintain business continuity [3]. Regulatory Compliance - All securities issued in the Proposed Financing will be subject to a four-month hold period from the closing date [4]. - Investors will receive a copy of the FFCTO and the Partial Revocation Order and must acknowledge that all securities will remain subject to the FFCTO until fully revoked [5]. Company Overview - Global Hemp Group Inc. focuses on two main business segments: Industrial Hemp and Health & Wellness, with an emphasis on environmental applications of hemp and acquiring exclusive licensing of patents [7].