Farming, News, North America, Transactions, USA

Canadian group contracts to buy more land for project in Colorado

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Vancouver-based Global Hemp Group (GHG) said it has contracted to purchase a 664-acre plot of land in Colorado to grow hemp and eventually build housing units from hemp-based materials.

The land fits into GHG’s Colorado Hemp Agro-Industrial Zone (HAIZ) project, which is under the company’s Innovative Hemp Technologies (IHT) subsidiary. The initiative aims to prove the viability of hemp-based construction materials to build sustainable, affordable houses, according to Global Hemp Group’s website.

Buying up land . . .

GHG said in a press release that the purchase is the company’s third such acquisition this year, and brings its total land holdings to ~874 acres for a planned complex near Hayden in the northwest part of the state. GHG bought a total of ~220 acres of land in the same area of Colorado in two separate purchases last May.

The company said it intends to use a 44-acre plot to display hemp building technologies and promote hemp construction materials, with 30 of those acres set aside to begin hemp farming trials. Plans are being finalized for a large-scale warehouse, decortication and manufacturing facilities, a showroom and administrative offices in addition to model homes. Greenhouses and laboratory facilities are also planned, according to the press release.

. . . and water

GHG announced in May it had acquired nearby water infrastructure in Colorado through a private, third party transaction with Prescient Strategies Group, LLC, Steamboat Springs, giving it control over water assets of Western Sierra Resource Corporation valued at more than $40 Million.

Global Hemp Group is a penny stock company which is listed on the Canadian Securities Exchange, OTC in the U.S. and the Frankfurt Bourse.

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