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 (MCTO) issued by the British Columbia Securities Commission on Jan. 29, 2025. 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. 29, 2025, and 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 to complete the audited annual financial statements for the year ended Sept. 30, 2024, along with the 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. 28, 2024.

As previously stated, subject to current conditions remaining the same, the company expects to complete the 2024 filings on or before March 31, 2025, 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 Group is focused on two key business segments -- industrial hemp, and health and wellness (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. The health and wellness division is focused on the acquisition of exclusive licensing of patents and IP (intellectual property).

The company's R&D (research and development) division, lead by Prof. Victor M. Castano, a prominent figure in applied science and technology from the National Autonomous University of Mexico, focuses on Global Hemp Group's broader strategy to leverage the growing opportunities in the industrial hemp sector.

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