Mr. Curt Huber reports

GLOBAL HEMP GROUP ANNOUNCES NON-BROKERED PRIVATE PLACEMENT PURSUANT TO LISTED ISSUER FINANCING EXEMPTION

Global Hemp Group Inc. intends to complete a non-brokered private placement of up to 8,970,740 common shares of the company at a price of five cents per common share for gross proceeds of up to $448,537.

Proceeds from the sale of the offering are intended for general working capital purposes. At the closing of the offering, the company may (i) pay to certain finders a cash commission up to 8 per cent of the gross proceeds of the offering resulting from subscribers introduced by such finders, and (ii) issue to such finders common share purchase warrants, exercisable for a period of two years at an exercise price of five cents following the closing of the offering, to acquire in aggregate that number of common shares which is up to 8 per cent of the number of common shares sold under the offering attributable to the finders.

The offering is scheduled to close in one or more tranches with the final closing no later than Nov. 29, 2023, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the Canadian Securities Exchange.

Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 -- Prospectus Exemptions, the common shares will be offered for sale to purchasers in Canada pursuant to the listed issuer financing exemption under Part 5A of NI 45-106. Because the offering is being completed pursuant to the listed issuer financing exemption, the securities issued in the offering will not be subject to a hold period pursuant to applicable Canadian securities laws.

There is an offering document related to this offering that can be accessed under the company's profile on SEDAR+ and on the company's website. Prospective investors should read this offering document before making an investment decision.

Global Hemp is also pleased to announce Veronique Laberge, CPA auditor, has been appointed the company's chief financial officer, replacing Rachel Lu, the company's current CFO.

Mrs. Laberge began her career in an accounting firm in 2005. She participated in various certification mandates for private companies. Mrs. Laberge then chose to pursue her career in a management position in the field of professional services, an experience that allows her to acquire solid expertise in the business world. In 2018, Mrs. Laberge returned to professional practice as a self-employed practitioner. With more than 17 years of experience in professional practice, she now specialized as a consultant and fractional CFO for public and private companies.

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, 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. 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.

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