Innovative move should secure a larger foothold in the hemp and mushroom supplement industry, promising enhanced product offerings and market reach

San Diego, California–(Newsfile Corp. – March 21, 2024) – In a strategic move designed to significantly enhance its manufacturing capabilities and customer base in the nutraceutical industry, Hempacco Co, Inc. (NASDAQ: HPCO) (“Hempacco”), announces the strategic acquisition of a portion of Covalent CBD’s assets, a leading white-label and private label nutraceutical company. This acquisition marks a significant milestone in Hempacco’s ongoing efforts to expand its footprint in the rapidly growing sectors of hemp and mushroom nutritional supplements.

Covalent CBD, renowned for its extensive client base and robust procurement network in the nutritional supplement arena, especially within the hemp industry, has established itself as a powerhouse in white-label and private label manufacturing. Hempacco’s acquisition of a portion of Covalent CBD’s assets not only promises to broaden its service offerings but also to fortify its position as a key player in the nutraceutical market.

“This acquisition should be a game-changer for Hempacco, allowing us to leapfrog our capabilities in hemp and mushroom product manufacturing,” stated Sandro Piancone, CEO of Hempacco. “By integrating a portion of Covalent CBD’s assets, we’re not just expanding our production capacity; we believe we’ll expand our sales to a larger network of clients, and expand our network of suppliers, which should propel our growth and innovation in the nutraceutical space.”

Covalent CBD’s expertise in producing a wide array of nutritional supplements should provide a valuable foundation for Hempacco to service new customers under the new manufacturing umbrella. Furthermore, the retention of Covalent CBD’s management team by Hempacco should facilitate product offering and manufacturing expansion plans at Hempacco’s state-of-the-art manufacturing facility in San Diego, CA.

“We are thrilled to join forces with Hempacco,” expressed Kelly Ann Lewis-Bortman, President of Covalent. “Our combined strengths in innovation, manufacturing, and customer service will enable us to deliver unparalleled value to our clients and set new standards in the industry. This partnership represents a perfect synergy between our companies’ visions and capabilities.”

This new partnership now offers white label and private label R&D and manufacturing, specializing in intellectual property driven projects such as:

1. Mushroom extraction using only water and magnets
2. Beverage and shot R&D and manufacturing in hemp and functional mushrooms
3. Gummy production, including custom molds, with mushrooms, Delta 9, Delta 8, CBD, CBN, and other cannabinoids
4. Manufacturing of pills, capsules, tinctures, and other nutraceuticals using Hempacco’s IP
5. Production of Hemp Blunts smoking paper

As Hempacco continues to expand its reach and develop its portfolio through such partnerships, acquisitions and organic growth, the company is poised to redefine the landscape of the hemp and mushroom nutraceutical industry.

About Hempacco

Hempacco Co., Inc.’s goal is Disrupting Tobacco’s™ nearly $1 trillion industry with herb and hemp-based alternatives to nicotine cigarettes by manufacturing and marketing herb, spice, and cannabinoid smokables and rolling paper. Hempacco owns The Real Stuff™ functional hemp cigarette and rolling paper brand. Hempacco is a majority-owned subsidiary of Green Globe International Inc. (OTC Pink: GGII), a fast-moving consumer goods incubating company.

Hempacco’s operating segments include:

1. Manufacturing of smokables, hemp rolling paper, and cannabinoid sticks
2. Smokable technology development
3. The Real Stuff™ brand of functional smokables and rolling paper
4. Cheech and Chong Hemp Cigarettes and Hemp Hop Smokables with Rick Ross
5. Snoop Dogg Joint Venture of Hemp-Derived Products

Learn more at www.hempacco.com

Learn more at www.ggiigroup.com

Order products at www.realstuffsmokables.com

About Covalent

Covalent stands as a distinguished wholesale distributor of premium cannabinoid ingredients and retail-ready finished products, known for its commitment to excellence in serving its clientele. Recognizing the significance of delivering superior products and services, Covalent collaborates with the top specialists in each sector within the industry. This strategic partnership enhances their comprehensive suite of core capabilities, facilitating a seamless turn-key product development and CBD manufacturing solution for their customers.

Their expansive expertise, unparalleled agricultural supply chain, a network of elite manufacturing partners, and in-house capabilities position the Covalent Wholesale CBD Company as an essential resource for any hemp product business or brand. With a wealth of resources at their disposal, Covalent provides everything necessary for businesses to flourish and achieve success in the dynamic CBD market. Visit www.covalentcbd.com to learn more.

Order Products at www.CovalentCBD.com

For investor inquiries, please contact:
Sandro Piancone, CEO
Investor Relations: ir@hempaccoinc.com
619-779-0715

Kelly Ann Lewis-Bortman, President (CovalentCBD)
Kelly@CovalentCBD.com
702.766.4367

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