Mr. Curt Huber reports

GLOBAL HEMP GROUP ANNOUNCES PRIVATE PLACEMENT AND CORPORATE UPDATE

Global Hemp Group Inc. intends to complete a non-brokered private placement of up to 14 million units at 3.1 cents per unit for gross proceeds of up to $434,000 (the "Offering"). Each Unit is comprised of 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 March 24, 2028. 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 Canadian Securities Exchange and applicable Canadian securities laws. 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 $75,000 for 2,419,354 units expected to close in a week. The company may pay finders' fees to qualified arm's-length third parties consisting of a cash commission of up to 8 per cent of the gross proceeds of the private placement and 8 per cent broker warrants on the same terms as warrants issued per the private placement.

In addition, the company would like to announce an expansion of its green industrial business segment, which currently has been focused on the environmental uses of hemp for construction and hemp for sustainable bio-energy sources. To achieve this, the company has entered into a commercialization agreement with the developer of a next-generation 3-D house printing technology. Compared with existing 3-D house printing systems, this new technology will be considerably less costly to develop, lighter, easier to transport from location to location, and simpler and quicker to set up and take down, and it does not require a level setting to operate.

The benefits of 3-D-printed houses are numerous and align with the company's strategic direction. In most cases, 3-D-printed houses can be constructed more quickly and with fewer resources; this reduces construction costs and makes homes more affordable. Additionally, this technology offers greater customization and design flexibility as 3-D printers can create complex shapes and curves that are challenging to achieve with traditional methods. Furthermore, 3-D-printed houses can be built using more sustainable and environmentally friendly materials; this helps minimize the environmental impact of construction. Although 3-D-printed houses are a relatively new technology, it is gaining significant traction in recent years as the technology becomes more advanced and cost-effective. As demand for affordable, sustainable and customizable housing continues to rise, 3-D-printed houses are likely to become a more popular choice for home construction. A recent media segment highlighted a 100-house community in Texas that was constructed using a 3-D house printer, which showcased the potential of this technology in large-scale developments. Also, according to a recent report from Global Information Inc., the 3-D printed homes market is poised to grow from $59.93-million (U.S.) in 2024 to approximately $2.9-billion (U.S.) by 2032, growing at a CAGR (compound annual growth rate) of 62.4 per cent during the forecast period, demonstrating a growing acceptance of this new technology.

Initial discussions with a number of large residential home builders have met with a favourable response. At this time, for competitive advantage reasons, the company must limit the public information presented on this project until after certain commitments are fulfilled, which are expected to be completed within the next 30 days. The company will look to provide an update on the project upon completion of these commitments.

In addition to the developer's research on the use of hemp fibre in the mixture for the printer, Global Hemp Group's research and development division will begin research this month on a number of different forms of environmentally friendly cement that could be utilized in 3-D house printers. Prof. Victor M. Castano, the head of the R&D division, has assembled a team of PhD candidates to assist him in this research endeavour.

About Global Hemp Group Inc.

Global Hemp Group is currently 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 division, led by Prof. 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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