September 10, 2021, Generation Hemp, Inc. announced recent corporate developments, including the results of the Company’s recent Board of Directors meeting held on August 30, 2021 and the completion of its change of domicile from Colorado to Delaware, as well as the conversion of all of the Company’s outstanding Series A Convertible Preferred Stock into Common Stock. As disclosed in the Company’s Information Statement on Schedule 14C filed with the United States Securities and Exchange Commission on July 26, 2021 (the “Information Statement”), Gary D. Elliston, John Harris and Joe McClaugherty were each elected as independent directors, in accordance with applicable rules and regulations (the “Independent Directors”). This is in addition to current director, Gary C. Evans, the Company’s Chief Executive Officer and Chairman, and brings the total number of Board members of the Company to four. Each of the Independent Directors was appointed to the either the Company’s Audit Committee, Nominating and Corporate Governance Committee, and Compensation Committee or a combination thereof, by the Company’s Board of Directors. Following such appointments, the Board and the applicable Committees appointed the following Committee Chairman: John Harris (Audit Committee); Garry D. Elliston (Nominating and Corporate Governance Committee) and Joe McClaugherty (Compensation Committee), with Mr. Harris being certified as the Audit Committee Financial Expert in accordance with applicable rules and regulations. In addition, the Board adopted a Lead Independent Director Charter and appointed Mr. McClaugherty as the Company’s Lead Independent Director.