Mr. Darren Bondar reports

HEMPALTA CORP. TO CELEBRATE PUBLIC LISTING BY RINGING OPENING BELL FOR THE TSX VENTURE EXCHANGE ON MARCH 22, 2024

Hempalta Corp. is set to ring the opening bell at the TSX Venture Exchange in Toronto on Friday, March 22, 2024, to recognize its successful listing and completion of the qualifying transaction. In connection with the opening bell, the common shares of Hempalta will trade under the symbol HEMP.

"We can hardly contain our enthusiasm as we gear up to mark a monumental occasion: our public debut on the TSX Venture Exchange, complete with the exhilarating ringing of the bell at market open on Friday," said Darren Bondar, president and chief executive officer of Hempalta. "This milestone stands as a testament to the unwavering commitment and tireless efforts of our exceptional team as we proudly elevate the Hempalta brand onto the global stage."

A live webcast of the event is expected to be available on Friday, March 22, 2024, just before 9:30 a.m. ET on BNN Bloomberg and on YouTube.

Market liquidity program

Hempalta has retained Velocity Trade Capital Ltd. to provide market liquidity services, in compliance with the policies and guidelines of the TSX-V, and other applicable regulations.

Pursuant to the terms of the agreement with Velocity Trade, Velocity Trade will manage trading of the company's securities listed on the TSX-V from time to time for the purposes of maintaining an orderly market, with a view to reducing trading volatility and improving the liquidity of the company's securities. The financing and securities required for these services undertaken will be provided by Velocity Trade.

The agreement with Velocity Trade will begin March 22, 2024, and has an initial term of two months, with subsequent monthly renewals until terminated by either party. Velocity Trade will receive a cash fee of $5,000 per month. There are no performance factors contained in the agreement between Velocity Trade and Hempalta, and Velocity Trade will not receive any shares or options from Hempalta as compensation for services it will render. None of Velocity Trade or its affiliates or associates has any interest directly or indirectly in the company or its securities or any right or intent to acquire such an interest.

Velocity Trade is a private and independent investment dealer headquartered in Toronto, Ont., and is registered for trading in the provinces of Ontario, British Columbia, Alberta and Manitoba. Velocity Trade is a member of the TMX and the Canadian Investment Regulatory Organization (CIRO). Additionally, the firm and its affiliate companies are regulated internationally by the United Kingdom's Financial Conduct Authority (FCA), the Authority for Financial Markets (AFM) in the Netherlands, the Australian Securities and Investments Commission (ASIC), South Africa's Financial Sector Conduct Authority (FSCA), and the Monetary Authority of Singapore (MAS), among others.

Velocity Trade and Hempalta are not related parties and have no other agreements other than the market liquidity agreement, which is a subject in this news release.

About Hempalta Corp.

Hempalta is focused on harnessing the immense potential of hemp. The company's products are made from hemp grown sustainably in Alberta and processed using a state-of-the-art processing plant at its production facility in Calgary. Hempalta is led by passionate advocates for industrial hemp who have years of operations, manufacturing, marketing, consumer packaged goods and retail sales experience. The company has been named a Top 10 Startup by Platform Calgary's Launch Party and recognized as one of the 50 most investable clean technology companies by Foresight Canada. Hempalta is a proud sponsor of the Wilder Institute/Calgary Zoo and provides sustainable hemp-based products to the zoo's operations.

We seek Safe Harbor.