Hempshire Group Announces Board and Management Changes

CALGARY, AB, Dec. 16, 2022 /CNW/ - The Hempshire Group, Inc. (formerly Hoist Capital Corp.) ("Hempshire" or the "Company") (TSXV: HMPG) announces that Martin Marion, President, Chief Executive Officer and Director has advised the Board of Directors that he will resign from his roles as an officer and director effective December 31, 2022, for personal reasons.

Mr. Marion has served as President and Chief Executive Officer of Hempshire since July 2021.  Mr. Marion's decades of marketing, strategic planning and business development experience within the consumer goods and healthcare sectors were instrumental in leading the Company through its transition from a privately held company to a public company listed on the TSX Venture Exchange which was completed in June 2022.

"On behalf of the Board and everyone at Hempshire, I want to thank Mr. Marion for his service and passionate dedication to Hempshire and all of its stakeholders," said Jeff Ragovin, Chair of the Board.

The Board of Directors has appointed Alex Shegelman as a director and Chief Executive Officer of Hempshire effective December 31, 2022. Mr. Ragovin added, "Alex has been assisting management in an advisory role for the better part of the last two years and has developed a deep understanding of the business. The board has full confidence in Alex's ability to lead Hempshire into its next phase of growth".

About Alex Shegelman

Alex is Co-Founder and Managing Partner of Everleaf Capital Corp.  Alex has gained significant transaction execution and revenue generation experience over his 25+ years in investment banking, capital markets and corporate development. He was the Head of Energy Investment Banking at one of Canada's largest financial institutions and the Head of Life Sciences Investment Banking at a bank-owned dealer. As Head of Energy Investment Banking, he was instrumental in achieving significant revenue growth over his six year tenure, participating in $6+B of energy financings in his final year. Alex has successfully executed 25+ M&A and advisory assignments and 100+ financings. He holds a Bachelor of Arts in Economics, a Master of Business Administration (with Distinction), and is a CFA Charterholder.

About Hempshire

Hempshire formulates and markets its own proprietary brands under the MOUNTAIN^® Smokes brand name, including MOUNTAIN^® Originals cannabidiol hemp smokes ("Hemp Smokes") with <0.3% THC, and MOUNTAIN^® Zeros Hemp Smokes with non-detectible, <0.0001% THC. Hempshire also offers private white-labeling services and contract manufacturing services, through its partners, for significant non-owned Hemp Smoke brands in the United States and internationally.

Information about the Company's MOUNTAIN^® Smokes line of Hemp Smokes can be found at the Company's ecommerce website at https://mountainsmokes.com.

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SOURCE The Hempshire Group, Inc.

For additional information regarding Hempshire, please contact: William Hahn, CFO Email: [email protected]