An anonymous director reports

Further to Global Hemp Group Inc.'s news release of Jan. 15, 2024, the company advises that it has cancelled the non-brokered private placement of up to 15 million units at five cents per unit for gross proceeds of up to $750,000.

The company further announces that it intends to complete a non-brokered private placement of up to 8.9 million units at five cents per unit for gross proceeds of up to $445,000. Each unit comprised one common share in the capital of the company and one non-transferable common share purchase warrant. Each warrant entitles the holder to acquire one common share at a price of 10 cents per share, exercisable until Jan. 15, 2027. The company intends to use the net proceeds from the offering for general working capital purposes. It is anticipated that this placement will close in multiple tranches, with the first tranche of $67,500 for 1.35 million units expected to close in one week. No insider will participate in the offering.

All securities issued under the offering, including securities issuable on exercise thereof, will be subject to a hold period expiring four months and one day after issuance, in accordance with the rules and policies of the exchange and applicable Canadian securities laws. In connection with the offering, the company may pay certain eligible finder's a cash fee equal to 8 per cent of the gross proceeds from the offering and issue finders' warrants, equal to 8 per cent of the total number of units sold. Each finder's warrant will entitle the holder thereof to purchase one common share at a price of 10 cents within 24 months from the closing of the offering.

About Global Hemp Group Inc.

Global Hemp Group is a dynamic company currently focused on two key business segments -- industrial hemp and biopharma.

The industrial hemp division's primary focus lies in the environmental uses of hemp for construction and hemp for sustainable bio-energy sources, both contributing to a carbon-negative footprint. The company's R&D (research and development) team is engaged in developing intellectual property that can be patented and implemented within the company's projects and beyond. Prof. Victor M. Castano, PhD, a distinguished figure in applied science and nanotechnology, leads the R&D division for the organization. The health and wellness division is focused on the acquisition of exclusive patents and IP through licensing agreements. The company acquired exclusive the rights to key patents and IP of Apollon Formularies PLC, a United Kingdom-based international pharmaceutical company whose formulations and patents specialize in developing cancer treatments from natural biologics, including cannabinoids and functional mushrooms. More recently, the company has signed a letter of intent with B-Organic R&D Corp. relating to the use of its bioactive lipid agents (BLA) technology with cannabinoids, terpenes, flavonoids and mushroom extracts. BLA enhances the solubility and bioavailability of various "poorly soluble pharma ingredients."

These strategic alliances form the basis for the commercialization of promising independently preclinically tested formulations, underscoring the company's commitment to cutting-edge innovation in the commercial biopharma sector.

We seek Safe Harbor.