An anonymous director reports

GLOBAL HEMP GROUP PROVIDES MANAGEMENT CEASE TRADE ORDER UPDATE

Global Hemp Group Inc. has provided an update with respect to the previously announced management cease trade order issued by the B.C. Securities Commission on Jan. 30, 2024. The company is providing notice in accordance with National Policy 12-203 (Management Cease Trade Orders). The MCTO was issued by the BCSC on Jan. 30, 2024. It prevents the company's officers, board and insiders from trading in the company's securities but does not affect the ability of other shareholders, including the public, to trade in the securities of the company.

The company confirms that, as of today, it continues to work earnestly with its auditor team at DMCL Chartered Professional Accountants to complete the audited annual financial statements for the year ended Sept. 30, 2023, along with management's discussion and analysis and related chief executive officer and chief financial officer certificates for the period, which were required to be filed on or before Jan. 29, 2023.

As previously stated, subject to current conditions remaining the same, the company continues to work to complete the 2023 filings by April 12, 2024 (as extended by the BCSC), and will use its best efforts to complete the process within the timeline indicated.

The MCTO remains in effect until the company files the required documents and the BCSC's executive director has revoked the MCTO. The company confirms that since the date of the default announcement, other than as described above: (a) there has been no material change to the information set out in the default announcement that has not been generally disclosed; (b) there has been no failure by the company in fulfilling its stated intentions with respect to satisfying the provisions of the alternative information guidelines set out in NP 12-203; (c) there has not been, nor is there anticipated to be, any specified default subsequent to the default which is the subject of the default announcement; and (d) there is no other material information concerning the affairs of the company that has not been generally disclosed.

The company confirms that it will continue to satisfy the provisions of the alternative information guidelines under NP 12-203 by issuing biweekly default status reports in the form of news releases for so long as it remains delayed.

About Global Hemp Group Inc.

Global Hemp (Canadian Securities Exchange: GHG/OTC: GBHPF/Frankfurt Stock Exchange: GHG) 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 bioenergy sources, both contributing to a carbon-negative footprint. Its research and development team is engaged in developing intellectual property that can be patented and implemented within its projects and beyond.

The health and wellness division is focused on the acquisition of exclusive patents and 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 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 agent 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 its commitment to cutting-edge innovation in the commercial biopharma sector.

We seek Safe Harbor.