Global Hemp Group Inc. announce that it has executed an Letter of Intent (?LOI?) with B-Organic R&D Corp. (?B-Organic?) to exclusively license its Bioactive Lipid Agents (?BLA?) technology, a patented innovative matrix which is able to increase the solubility and bioavailability of numerous ?poorly soluble pharma ingredients? including cannabinoids.

The application of BLA extends to numerous industries such as food, pharmaceuticals, healthcare, drugs, agriculture, and nutraceuticals. This LOI marks the next step in the company's strategic expansion of its bio pharma business segment. Earlier in the year 2023, GHG successfully launched this segment with the Exclusive Licensing of Apollon Formularies plc patents and intellectual property.

Research is also an important component of this expanding business segment. The Company will work with the B-Organic team in collaboration with Prof. Víctor M. Castaño, Ph.D., head of GHG's R&D team, to bring together additional advisors that can assist in developing this business segment. Exclusive Licensing - B-Organic, a bio-chemical research company that concentrates on the development of molecular structures that have scientific or commercial value for industry partners in the Pharmaceutical, Nutraceutical and Agricultural sectors is exclusively licensing the application of its Bioactive Lipid Agents technology for development/enhancement of products which include any form of cannabinoid, including terpenes or flavonoids, as well as compounds extracted from functional mushrooms, either alone or in any combination (the ?Application?).

The Parties will look to work together by way of establishing a collaboration and/or joint venture (?JV?) through a new entity to be formed by way of a share allocation on a 50/50 basis (the ?Proposed Transaction?). Reimbursement of Investment - All initial revenues generated from any products developed by the JV will be used to reimburse GHG for its cumulative investment, before distribution of any remaining proceeds as defined in the Proposed Transaction documents. In the case of a mutual agreement by the founding JV partners to sell the JV company or to expand the ownership of the JV to third parties, GHG will have its cumulative investment repaid from proceeds prior to any allocations.

Such reimbursement is not applicable in case of the termination of this Letter of Intent. Termination of the Letter of Intent - This LOI may be terminated by: (a) mutual written consent by both Parties; (b) if the Parties have not entered or failed to agree and sign, at their sole discretion, the requisite Definitive Agreement on or before November 30, 2023; (c) if the research funding is not reached, prior to signing the Definitive Agreement, unless mutually extended and signed by both Parties.