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Global Hemp Group closes C$1.5M private offering of units

Vancouver, British Columbia-based Global Hemp Group Inc. raised C$1.5 million via the sale of its securities.

The Canadian cannabis producer sold 12.5 million units of the company at 12 Canadian cents apiece. Each unit is made up of a common share and a warrant to purchase an additional stock at 15 Canadian cents apiece.

The company intends to use the proceeds from the offering to fund its hemp cultivation and extraction projects in New Brunswick and Oregon.