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.
Evergreen Sustainable Enterprises, Inc. is a sustainable green energy company. The Company, through its wholly owned subsidiaries, has operations in both the bitcoin mining industry and the hemp industry. Through its bitcoin mining projects, it sources stranded energy in rural areas for bitcoin mining installations. In addition to its hydroelectric powered bitcoin operations in Costa Rica, the Company is in development on several bitcoin mining arrays in rural or remote United States locations. It has two bitcoin mining arrays in development in Arkansas, an eight-megawatt array in south central Arkansas. It also has three bitcoin mining arrays located in Kentucky, a five-megawatt array in Carter County and two additional sites in various stages of development in Greenup County. Its hemp processing operations provide post-harvest and midstream services to growers by drying, processing, cleaning, stripping harvested hemp directly from the field.