Global Hemp Group Advances Earnest Money for its 664 Acre Property Required for Long Term Development of its Planned Green Community in Hayden Colorado
Vancouver, BC - TheNewswire - September 7, 2021 - GLOBAL HEMP GROUP INC. (“GHG” or the “Company”) (CNSX:GHG.CN) IOTC:GBHPF) (FRANKFURT:GHG) is pleased to announce that the Company has advanced earnest money in the amount of US$200,000 for the contract on the acquisition of its third strategic property for its Planned Green Community in Hayden, Colorado. Subject to completion of acceptable due diligence on this key 664 acre parcel on or before September 30, 2021, the earnest money will become non-refundable, and the purchase will be scheduled for closing, with final payments payable on or before April 1, 2022.
In collaboration with Western Sierra Resource Corporation (OTC:WSRC), this Planned Green Community is a “vertically integrated” project and contemplates the beneficial use of substantial existing water resources to cultivate irrigated industrial hemp; process the hemp in the on-site manufacturing of green renewable construction products; and finally, to build affordable carbon neutral/carbon negative housing – all in one location under the Company’s Master Plan.
LOCAL PROFESSIONALS ENGAGED
For the development of the Company’s Master Plan, a number of quality local professionals have now been engaged to assist in the design and engineering in the various components of this 874-acre project Master Plan. To date, the Company has begun working with Patten Associates, Inc., Four Points Surveying and Engineering, and Western Bionomics Inc.
Patten Associates, Inc. (PAI) is a professional consulting firm with offices in Colorado Springs and Steamboat Springs, Colorado. PAI’s objective is to provide creative project management, land planning and design solutions working collaboratively with its clients and the consultant team, resulting in development which respects the natural environment, is consistent with community planning and design objectives, and provides a reasonable financial return to investors.
Four Points Surveying and Engineering is a full service engineering and development firm based in Steamboat Springs, Colorado. Four Points SE provides services for any phase of a project from inception through completion. They provide, Civil Engineering, Land Surveying, Site Planning, Site Design, Erosion Control and Drainage, Construction Management and Project Management. With over 20+ years of experience in engineering, surveying, construction and land development within Routt County and five years on the Front Range, Four Points SE assists Companies in planning, designing and constructing projects.
Western Bionomics has provided natural resource consulting services in Steamboat Springs and the Rocky Mountain West since 1994. They provide expertise to private, public, and government entities in the disciplines of wetland and wildlife biology, with experience conducting Clean Water Act Section 404 Permitting, NEPA Wildlife, Botany, & Wetland Analyses, Phase I Environmental Site Assessments for Real Estate, Baseline Documentation Reporting for Conservation Easements, Wildlife Management Planning, and Public Land Permitting.
The Company, it’s Planners, and Engineers are working closely with the Town of Hayden to coordinate a land use plan that complies with existing annexation agreements and compliments the growth and economic objectives of the Community.
INITIAL DEVELOPMENT INFORMATION OF THE ACREAGE PACKAGES ACQUIRED TO DATE
Project Area 1 (X-West). 44.84 Acres.
The first phase, and the heart of the Hemp Agro-Industrial Zone (HAIZ) is envisioned as a well landscaped and irrigated 7.7 acre Industrial Campus containing a 26,000 square foot processing/manufacturing facility; a 12,000 square foot decortication facility; a 10,000 square foot showroom and two model homes.
The second phase of the Hemp Agro-Industrial Zone (HAIZ), consists of an 11.2 acre agricultural testing and development site containing a 24,000 square foot greenhouse and laboratory facility; and 10 acres of irrigated outdoor industrial hemp cultivation for research.
The third through sixth phases (encompassing 17.65 acres) of this 44-acre project will be made available for manufacture of various other hemp-based products and technologies involving collaborative relationships with the Company’s vendor/partners.
Project Area 2 (Phase I). 166 Acres
Affordable housing. The current land use plan for these 166 acres contemplates up to 5 phased filings averaging 45 dwellings per filing (or 225 total single family dwelling units); with each filing buffered by open space areas and water features. The specific number of residential units will be subject to Town review and design approval of the finished subdivision plat.
Project Area 3 (Future Phases). 664 Acres
Large scale hemp production. Contiguous with Project Area 2 (site of the 166-acre affordable housing portion of the project) the 664 acres will be used to cultivate irrigated industrial hemp which will be processed at Project Area 1, (decortication/processing/and manufacturing facility). Processed materials (hurd and fiber) will then be used to manufacture value-added products (hemp blocks and panels) for use on-site in the construction of affordable homes (Project Area 2). Surplus materials and finished products will be sold and transported to other manufacturers and builders by truck or rail.
Being contiguous to Project Area 2, and with water delivery infrastructure already in place on this property, Project Area 3 also provides the land necessary for expansion of affordable housing to 2,969 dwelling units or more. Additional land will be systematically acquired and irrigated within the Company’s water infrastructure service area to increase hemp cultivation acreage as the project matures in years 2 through 5.
Further to the Company’s news release of August 23, 2021, the Company is pleased to announce that it has closed the first tranche of its Secured Convertible Debenture for gross proceeds of $500,000. A second and final tranche of $500,000 is expected to close on or before September 15, 2021. Further, the holder of the Secured Convertible Debenture has converted $500,000 per the terms outlined in the above noted news release.
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About Global Hemp Group Inc.
Global Hemp Group Inc. (CSE: GHG / OTCQB: GBHPF / FRANKFURT: GHG) is focused on a executing a multi-phased strategy of becoming a leader in the development and promotion of the industrial hemp technology industry in the United States and beyond. The Company is headquartered in Vancouver, British Columbia. The current phase of the strategy focuses on the development of “sustainable” and “green” value-added industrial hemp products utilizing the processing of the entirety of the hemp plant for multi-merchantable applications, as will be showcased in the Colorado Hemp Agro-Industrial Zone (HAIZ) project.
To further support and innovate the HAIZ, Global Hemp Group has established a Research and Development Division to actively pursue the development of Intellectual Property that can be patented for implementation at its projects and beyond. The Division is led by Prof. Víctor M. Castaño, Ph.D. from the National Autonomous University of Mexico (UNAM), a highly recognized leader in areas of applied science and technology. The R&D team brings an amazing wealth of knowledge and experience in multiple disciplines and will initially focus on development of Environmentally-Friendly Construction Materials, Nanofertilizers and Enhanced Extraction from Hemp.
For Further Information Contact Global Hemp Group
Curt Huber, President
Cautionary Note Regarding 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. Except as required by law, Global Hemp Group Inc. disclaims any intention and assumes no obligation to update or revise any forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise.
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.