Global Hemp Group Issues Alberta Crop Report

Press Release
Source: digitaljournal.com

SURREY, BRITISH COLUMBIA--(Marketwired - July 16, 2014) - Global Hemp Group ("GHG" or the "Company") (CSE:GHG)(OTCQB:GBHPF)(FRANKFURT:GHG) is pleased to report that the 1,500 acres seeded in June are healthy and at varying stages of growth. Some fields were stalled by excessive rain, but are recovering nicely with recent good weather and warm sunshine. All other fields are in excellent shape with minimal weed control necessary. Irrigation and additional fertilizing will take place this week on designated fields, while the dry land fields will be left to Mother Nature.

GHG crops are on target to produce an estimated 1.5 million pounds of hemp seed in October of this year, which management expects will translate into profitable revenues and cash flow for the Company in 2014.

GHG and the Alberta farmers have mutually agreed upon a restructuring of the contractual agreements for the 1,500 acres of hemp. $150,000 has already been paid into the farmers' trust, with additional payments of $225,000 and $375,000 due on July 30 and Sept. 15, respectively, and a final payment of $750,000 due on delivery. The revised agreement includes 1,500,000 warrants to purchase GHG stock at $0.15 for two years, subject to regulatory approval.

"This revised agreement shows that GHG and our agriculture partners remain closely aligned in working to achieve a common goal: restoring hemp's place as a major North American commodity," said Charles Larsen, CEO of Global Hemp Group Inc. "We are encouraged by the both the strength of the hemp crop so far, and the enduring strength of our farming partnership, and hope both represent only the beginning of greater things to come."

U.S. investors can find current financial disclosures and Real-Time Level 2 quotes for GHG at http://www.otcmarkets.com/stock/GBHPF/quote.

On behalf of the Board of Directors

Charles Larsen, Chairman & CEO

To view Global Hemp Group Inc. on the Canadian Securities Exchange under symbol GHG click HERE.

To view Global Hemp Group Inc. on the Boerse-Frankfurt Exchange/XETRA exchange under symbol GHG click HERE.

To view Global Hemp Group Inc. on the OTC Markets in the United States under symbol GBHPF click HERE.

Read more: http://www.digitaljournal.com/pr/2058582#ixzz37hbiA7Kc