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Global Hemp Group Adds Israel, the European Union and Morocco as Exclusive Global Licenses from Apollon Formularies, PLC

Vancouver, British Columbia--(Newsfile Corp. - March 21, 2023) - GLOBAL HEMP GROUP INC. (CSE: GHG) (OTC Pink: GBHPF) (FSE: GHG) ("GHG" or the "Company") announces that the Company has now added additional exclusive global licenses for the countries of Israel, and the European Union (with extension to Morocco) from Apollon Formularies, plc. These new exclusive licenses are in addition to the previously announced exclusive licenses for the United States, Canada, and Mexico with the same exclusive license terms.

GHG is now the exclusive licensee of Apollon discoveries set forth in Apollon's PCT application for "Compositions and Methods for Treatment of Cancers" including the National Stage filings presently pending in the United States, Canada (Application No. 3,186,850), and Mexico (Application No. MX/a/2023/000946), as well as European Patent Office (Application No. 21846278.6) and Israel (ApplicationNo.300067).

GHG's exclusive licenses now also cover Apollon discoveries set forth in Apollon's PCT application for "Compositions and Methods for Treatment of Inflammation" including the National Stage filings presently pending in the U.S., Canada (Application No. 3,187,534), and Mexico (Application No. MX/a/2023/001331), as well as European Patent Office (Application No. 21849424.3) and Israel (Application No. 300240).

Stephen D. Barnhill, Jr., interim President & CEO of GHG stated "I am excited to announce the expansion of the exclusive intellectual property licenses with Apollon Formularies, plc to these new territories, and I look forward to immediately launching a sublicensing program open to legally licensed manufacturers, distributors and retail partners in these countries. It is our intention to generate upfront license fees, continuing license fees, and royalties in legal jurisdictions in these countries."

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About Global Hemp Group Inc.

Global Hemp Group Inc. (CSE: GHG) (OTC Pink: GBHPF) (FSE: GHG) is focused on executing a multi-phased strategy to become a leader in the industrial hemp industry. To further support and innovate, GHG has established a R&D Division to actively pursue the development of Intellectual Property that can be patented for implementation at its projects and beyond. The Division is led by Prof. Víctor M. Castaño, Ph.D. whose career has focused in the areas of applied science and technology. The R&D team will initially focus on development of Environmentally Friendly Construction Materials, Nano Fertilizers and Enhanced Extraction from Hemp.

Cautionary Note Regarding Forward Looking Statements

Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Global Hemp Group Inc., including, but not limited to, the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, dependence upon regulatory approvals, the availability of future financing and exploration risk, and the legality of cannabis and hemp. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of Page 2 of 2 preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Except as required by law, Global Hemp Group Inc. disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.

The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

For Further Information Contact Global Hemp Group

Investor Relations

Tel: 778-726-2900 info@globalhempgroup.com

www.globalhempgroup.com

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/159252