HempNova Closes C$6,467,000 Private Placement

/THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA./

VANCOUVER, May 12, 2020 /CNW/ - HempNova Lifetech Corporation (the "Company" or "HempNova") is pleased to announce that it has closed a non-broker private placement of 16,167,500 common shares at a price of C$0.40 per share for gross proceeds of C$6,467,000.

A finder fee of $129,550 was paid in connection with this financing.

Proceeds from the private placement will be used to fund the Company's expansion in Southern Oregon and for general working capital.

ON BEHALF OF THE BOARD

"Maria Tang", President  

SOURCE HempNova Lifetech Corporation

For additional information on the Company, please contact Jennifer Trevitt at 604-688-8002.