Global Hemp Group Inc. announced a non-brokered private placement of 75,000,000 units at an issue price of CAD 0.01 each unit for gross proceeds of CAD 750,000 on March 8, 2023. Each Unit will consist of one common share and one common share purchase warrant. Each Warrant will entitle the holder thereof to acquire an additional Common Share in the capital of the Company at an exercise price of CAD 0.05 for a period of 36 months from the date of closing of the transaction.

The closing date of this private placement is expected to occur on or about March 31, 2023, or such other date not exceeding 45 days from the date hereof as determined by the Company, and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the approval of the Canadian Securities Exchange and the securities regulatory authorities.