Vancouver, BC – TheNewswire – January 27, 2021 – GLOBAL HEMP GROUP INC. (“GHG” or the “Company”) (CSE: GHG) / (OTC:GBHPF) / (FRANKFURT:GHG) (CNSX:GHG.CN) announces that 2,500,000 previously issued stock options granted to Directors, management and consultants on September 24, 2018 covering 2,500,000 shares have been cancelled. The exercise price of the cancelled stock option agreements was $0.16 per share. The stock options were voluntarily surrendered by the holders for no consideration.

The Company also reported that it has granted new stock options to Directors, management and consultants aggregating 2,500,000 common shares exercisable at a price of $0.06 per share under its stock option plan. The options vest at the date of grant and have a term of five years. None of the options were granted to individuals included in the above cancellation.

The issuance of the options is subject to the CSE approval.