An anonymous director reports

GLOBAL HEMP GROUP ANNOUNCES CLOSING OF DEBT SETTLEMENT

Further to its news release of Jan. 15, 2024, Global Hemp Group Inc. has issued an aggregate of three million units at a price of five cents per unit to settle $150,000 of its outstanding long-term unsecured debt, due March 8, 2025. Each unit comprises 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 remaining balance of $300,000 plus accrued interest at 12 per cent per annum will continue to accrue interest until maturity on March 8, 2025, if not converted prior to maturity into units with the same terms and conditions as the above referenced initial debt settlement amount.

All securities issued and issuable in connection with this debt settlement are subject to a statutory hold period of four months and one day, expiring on June 1, 2024. No finders' fees were paid in connection with this transaction.

About Global Hemp Group Inc.

Global Hemp 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. Its 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.

The health and wellness division is focused on the acquisition of exclusive patents and IP (intellectual property) through licensing agreements. The company acquired exclusive rights to key patents and IP of Apollon Formularies PLC, a United Kingdom-based international pharmaceutical company, the formulations and patents of which 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 partnerships 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.

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