Mr. Stephen Barnhill reports

GLOBAL HEMP GROUP ANNOUNCES CLOSING OF DEBT SETTLEMENT

Global Hemp Group Inc. has issued 400,000 common shares at a deemed price of five cents per common share per the minimum price allowed pursuant to Canadian Securities Exchange (CSE) policies, to settle accrued executive consulting fees of $20,000 due to Stephen Barnhill Jr., the current director and ex-chief executive officer of the company.

The issuer would also like to rectify that the number of common shares issued is 400,000 instead of the four million common shares previously announced on Aug. 11, 2023, as the value of the accrued fees is $20,000.

This issuance is a "related party transaction" as defined under Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions, as Mr. Barnhill is a director of the company. However, such participation would be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as the fair market value and the consideration for the issuance, would not exceed 25 per cent of the company's market capitalization. The company did not file a material change report in respect of the related party transaction at least 21 days prior to the closing of the issuance, which the company deems reasonable in the circumstances to close the issuance in an expeditious manner. The common shares issued in connection with this debt settlement are subject to a statutory hold period of four months and one day.

About Global Hemp Group Inc.

Global Hemp Group is focused on developing and promoting hemp-based products that are sustainable, environmentally friendly, and have a positive impact on society. To further support and innovate, GHG 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. Victor M. Castano, PhD, whose career has focused in the areas of applied science and technology. The R&D team is initially focused on development of environmentally friendly construction materials, nanofertilizers and enhanced cannabinoid extraction from hemp.

We seek Safe Harbor.