GLOBAL HEMP GROUP ANNOUNCES COMPLETION
OF CONSULTING AGREEMENT WITH DR. STEPHEN BARNHILL, GHG'S SPECIAL MEDICAL ADVISOR
Vancouver, BC -- (February 6, 2023) -- GLOBAL HEMP GROUP INC. (“GHG” or the “Company”) (CSE: GHG / OTC: GBHPF / FRANKFURT: GHG) is pleased to announce that it has executed a consulting contract with Dr. Stephen D. Barnhill, MD to join the GHG team as Special Medical Advisor. Dr. Barnhill is Chairman & CEO of Apollon Formularies, Plc and a Medical Doctor specializing in Cannabinoid and Mycomedicinal Therapeutics, Drug Discovery and Artificial Intelligence, and has completed a Clinical Fellowship in Laboratory Medicine (Clinical Pathology) at the Medical University of South Carolina (MUSC).
Previously, Dr. Barnhill was Founder, Chairman and CEO of both private and public companies, including Founder, Chairman, and CEO of BCL laboratories, LLC with operations in southeastern US, which was acquired by Corning–MetPath now Quest Diagnostics, the largest clinical laboratory in the world.
Per the binding LOI executed by the Company with Apollon on January 9, 2023, Dr. Barnhill was issued 10 million common shares of GHG for his services as Special Medical Advisor. The shares have a hold period of four months and one day, calculated from the date of issuance.
Dr. Barnhill will advise the Company on natural biologic therapeutics, as well as assist the GHG as it looks to begin an IP sub-licensing program of its recently acquired exclusive North American licensing of Apollon Formularies plc patents and IP to legally licensed manufacturers, distributors, and retailers in any and all locations where legally permitted in the United States, Canada, and Mexico.
Apollon is a UK-based international pharmaceutical company developing cancer treatments from natural biologics, including medical cannabis, functional mushrooms, psychedelic mushrooms and combinations of these compounds, which to date have shown successful independent, third-party results in pre-clinical testing. Apollon utilizes an artificial intelligence-based drug discovery platform.
As previously announced, the Company has experienced significant delays in its payment obligations under the original Definitive Agreement executed with Western Sierra Resources Corporation (WSRC) and Prescient Solutions Group LLC relating to the Green Community/HAIZ Project in Hayden Colorado. During the course of 2022 the Company has worked with WSRC to restructure the Definitive Agreement to clarify and simplify the relationship of the parties, with the execution of either a revised Definitive Agreement or Joint Venture agreement. Over the last 10 days GHG and its capital markets Advisor had discussions with WSRC regarding potential direct funding partners for the project under a new Joint Venture scenario. These negotiations have not reached a successful conclusion; therefore, the Definitive Agreement has been terminated. The Company also announces that Roger Johnson has resigned as a director of the GHG.
The Company is also actively pursuing the expansion of its Advisors and Directors to provide further capital markets expertise, as well as support to the Company for the development of its natural biologic therapeutics segment of the business.
About Global Hemp Group Inc.
Global Hemp Group Inc. (CSE: GHG / OTC: GBHPF / FRANKFURT: GHG) is focused on a 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. a highly recognized leader in 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.
GHG has expanded its scope of business into natural biologic therapeutics having acquired the exclusive North America licensing of patents and IP from Apollon Formularies plc, a UK-based international pharmaceutical company developing cancer treatments from natural biologics, including medical cannabis, functional mushrooms, psychedelic mushrooms and combinations of these compounds, which to date have shown successful independent, third-party results in pre-clinical testing. Apollon utilizes an artificial intelligence-based drug discovery platform. GHG will look to begin sub-licensing this IP throughout Canada, the United States and Mexico where legally permitted to do so.
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For Further Information Contact Global Hemp Group
Curt Huber, President
Tel: 778-726-2900
https://www.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, 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 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.
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