Vancouver, British Columbia--(Newsfile Corp. - March 20, 2023) - GLOBAL HEMP GROUP INC. (CSE: GHG) (OTC Pink: GBHPF) (FSE: GHG) ("GHG" or the "Company") announces that Stephen D. Barnhill Jr. has been appointed interim President & CEO effective immediately. Curt Huber, former President & CEO will remain as a Director of the Company and will oversee GHG's continuing industrial hemp related business segments.

Mr. Barnhill is currently the Chief Operating Officer (COO) of Apollon Formularies, plc, a natural biologics drug discovery company publicly traded on the Aquis Exchange in London, UK. As Apollon's COO, he is responsible for all company operations in Jamaica, the Caribbean and North America. Stephen will be stepping down from that position immediately to become the Interim CEO of Global Hemp Group.

Stephen is the Co-Founder and President of Apollon Formularies, Inc. a US corporation established in 2014. He was instrumental in the international expansion of Apollon Formularies, Inc. to Jamaica in 2015, co-founding Apollon Formularies Jamaica, Ltd with headquarters in the Faculty of Medical Sciences at the University of the West Indies, Mona in Kingston. Apollon Formularies Jamaica, Ltd has a suite of vertical medical cannabis licenses from the Cannabis License Authority (CLA) including Cultivation Research and Development (allowing clinical trials), Processing, and Retail Therapeutic, an International Cancer and Chronic Pain Institute (ICCPI) in Kingston operating with a team of licensed medical doctors, Natural Psychedelic Therapeutics, Ltd to treat patients with psilocybin and an international medical tourism facility on the sea in Negril which treats international patients coming to Jamaica for treatment with Apollon's natural biologic products.

Mr. Barnhill was also involved in the expansion of Apollon to Europe transitioning the company to Apollon Formularies, plc, a publicly traded company on the Aquis Exchange in London, UK and was appointed COO of Apollon Formularies, plc. Stephen was also Founder and CEO of CBev Ventures, Inc., a medical cannabis beverage company offering the High Spirits brand of drinks.

In addition, the Company would also like to announce that the terms of the binding LOI executed on January 9, 2023 with Apollon Formularies plc (see the Company's news release of January 11, 2023 for further details) has been amended. The Parties have agreed to extend the due date of the final payment of US$150,000 relating to the Exclusive North American Licenses granted by Apollon, to on or before March 31, 2023. Further, in order to complete the due diligence process, the Parties have extended the due diligence period and GHG's option to acquire the entirety of Apollon's assets to April 28, 2023, unless waived by mutual agreement of the Parties prior to that date.

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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, Nanofertilizers and Enhanced Extraction from Hemp.

For Further Information Contact Global Hemp Group

Investor Relations

Tel: 778-726-2900

info@globalhempgroup.com

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.

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