An anonymous director reports

GLOBAL HEMP GROUP FILES AMENDED AND RESTATED OFFERING DOCUMENT IN RESPECT OF NON-BROKERED PRIVATE PLACEMENT PURSUANT TO LISTED ISSUER FINANCING EXEMPTION

Global Hemp Group Inc. has filed an amended and restated offering document dated Nov. 2, 2023, related to its previously announced (Oct. 16, 2023) non-brokered private placement offering pursuant to the listed issuer financing exemption (as defined below) of 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.

The amended and restated offering document has been filed to include additional details surrounding the business objectives expected to be achieved using the funds raised under the offering. The company intends to use the funds to negotiate marketing and distribution agreements in the United Kingdom and Europe and eventually build up an inventory and begin distributions through retailers. The amended and restated offering document also updated the working capital deficiency as at Sept. 30, 2023, to be $210,690 (as a result of adjustments further explained in the amended and restated offering document) and accordingly adjusting the total available funds upon closing to be $176,964.

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 amended and restated 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.

The offering is scheduled to close on or prior to Nov. 29, 2023, and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals.

As disclosed in the amended and restated offering document, 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.

About Global Hemp Group Inc.

Global Hemp Group is company currently focused on two business segments: the development and promotion of hemp-based products that are sustainable, environmentally friendly and have a positive impact on society. To further support and innovate, Global Hemp 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.

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