Coastal Trademark Services Announces Issuance of U.S. Patent for Hemptown USA(R)

Vancouver, British Columbia--(Newsfile Corp. - June 7, 2021) - Hemptown Organics Corp. (the "Company" or "Hemptown"), a privately-held British Columbia company, is proud to announce that the United States Patent and Trademark Office issued U.S. Patent No. 6,335,631 for the formulation of its flagship CBD products and company name, effective April 27th, 2021.

Hemptown USA's products are formulated with a proprietary composition of natural ingredients and cannabidiol (CBG), including but not limited to: Raw unprocessed hemp, Raw industrial hemp flowers, Agricultural products in the name of dried plants, namely, dried industrial hemp, dried industrial hemp flowers, and dried industrial hemp biomass; all the foregoing containing CBD with a delta-9 tetrahydrocannabinol THC concentration of not more than 0.3 percent on a dry weight basis.

Eric Gripentrog, CEO of Hemptown USA ® commented, "On behalf of Hemptown USA we are pleased that the United States Patent and Trademark Office has recognized the uniqueness and innovative values of our brand and diverse product line." "The patent further strengthens the differentiation of Hemptown USA against its competitors and signifies advances we achieved and are continuing to work toward as a company to produce products of the highest quality."

About Hemptown

Hemptown is a diversified cannabinoid company delivering a wide product offering across the value chain, and in multiple sales channels, to meet the growing global demand for cannabinoid-based products. State-of-the-art cultivation in Oregon's Rogue Valley, FDA-licensed and cGMP certified product manufacturing, and a strong leadership team with Fortune 500 experience are the pillars for Hemptown's growth model as it pushes into the consumer-packaged goods sectors with top quality white label and branded product lines for the consumer market. For more information, visit www.hemptownusa.com^[1].

For further information, please contact:

Hemptown Investor RelationsJohn Martinjmartin@hemptownusa.com^[2]1-833-436-7896

Hemptown Sales and General Inquiriesinfo@hemptownusa.com^[3]1-888-224-6691

This news release contains statements that are "forward-looking information" as defined under Canadian securities laws ("forward-looking statements"). These forward-looking statements are often identified by words such as "intends", "anticipates", "expects", "believes", "plans", "likely", or similar words. Specifically, this news release includes forward-looking statements regarding the potential Transaction, the completion of, and the terms and conditions of, the Concurrent Financing, the negotiation of a definitive agreement for the Transaction, the closing of the Transaction and the timing for those events. The forward-looking statements reflect the Company and Spectre's respective management's expectations, estimates, or projections concerning future results or events, based on the opinions, assumptions and estimates considered reasonable by management at the date the statements are made. Although the Company and Spectre believe that the expectations reflected in the forward-looking statements are reasonable, forward-looking statements involve risks and uncertainties, and undue reliance should not be placed on forward-looking statements, as unknown or unpredictable factors could cause actual results to be materially different from those reflected in the forward-looking statements. Among the key factors that could cause actual results to differ materially: whether the parties are successful in negotiating and entering a definitive agreement for the Transaction, whether they are able to obtain all necessary regulatory approvals for the Transaction and whether they are able to satisfy the listing conditions for the listing of the common shares of the Resulting Issuer on the Exchange; whether they are able to complete any necessary financing; and whether they are able to obtain all shareholder and third party consents necessary to complete the Transaction. The forward-looking statements may be affected by risks and uncertainties in the business of the Company and Spectre, including those described in Spectre's amended and restated final prospectus dated February 12, 2020, filed with the British Columbia Securities Commission, the Alberta Securities Commission and the Financial and Consumer Affairs Authority of Saskatchewan and available on www.sedar.com^[4].

Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/86781^[5]

References

1. ^{^} www.hemptownusa.com (www.newsfilecorp.com)
2. ^{^} jmartin@hemptownusa.com (www.newsfilecorp.com)
3. ^{^} info@hemptownusa.com (www.newsfilecorp.com)
4. ^{^} www.sedar.com (www.newsfilecorp.com)
5. ^{^} https://www.newsfilecorp.com/release/86781 (www.newsfilecorp.com)