Mr. Darren Bondar reports

HEMPALTA CORP. ANNOUNCES TSXV APPROVAL OF NAME CHANGE TO NEXT PHASE VENTURES LTD. AND NEW TRADING SYMBOL "NPV"

Further to shareholder approval obtained at Hempalta Corp.'s annual general and special meeting held on May 8, 2026, the TSX Venture Exchange has approved the company's proposed name change from Hempalta to Next Phase Ventures Ltd.

The name change is expected to become effective at the market open on Tuesday, May 19, 2026. At that time, the company's common shares are expected to commence trading on the TSX-V under the new name, Next Phase Ventures, and under the new trading symbol, NPV.

Darren Bondar, president and chief executive officer of the company, stated: "This marks an important next chapter for the company. The transition to Next Phase Ventures reflects a broader strategic vision focused on pursuing scalable business opportunities, leveraging public markets access and creating long-term shareholder value. We are excited about the future and believe the new name better represents the direction we are heading as an organization."

No action is required by existing shareholders with respect to the name change. Existing share certificates of Hempalta will continue to represent common shares of the company under the new name, Next Phase Ventures, and shareholders will not be required to exchange their existing certificates.

About Hempalta Corp. (Next Phase Ventures Ltd.)

Hempalta (Next Phase Ventures) is a TSX Venture Exchange-listed company headquartered in Calgary, Alta., focused on evaluating, developing and operating businesses across emerging and evolving markets. The company is focused on identifying strategic opportunities that leverage public markets access, operational experience and scalable business platforms to support long-term shareholder value creation.

The company continues to maintain interests in its existing operating subsidiaries, including Hempalta Processing and Hemp Carbon Standard (HCS), a nature-based carbon solutions platform supporting the development of high-integrity carbon credit programs utilizing industrial hemp and digital measurement, reporting and verification frameworks aligned with ISO 14064-2 standards.

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