Hempacco Co., Inc. Announces Pricing of Upsized $6.3 Million Public Offering

San Diego, California--(Newsfile Corp. - February 10, 2023) - Hempacco Co., Inc. (NASDAQ: HPCO) ("Hempacco" or the "Company"), a vertically integrated hemp manufacturing company, today announced the pricing of an upsized underwritten public offering of 4,200,000 shares of its common stock. Each share of common stock is being sold to the public at a price of $1.50 per share. The gross proceeds to the Company from this offering are expected to be approximately $6.3 million before deducting underwriting discounts, commissions, and other offering expenses, and excluding the exercise of the over-allotment option, if any. In addition, Hempacco has granted the underwriters a 45-day option to purchase up to an additional 630,000 shares to cover over-allotments, if any. The offering is expected to close on February 14, 2023, subject to customary closing conditions.

Hempacco intends to use the net proceeds of the offering for sales and marketing, potential acquisitions, upgrades to its existing manufacturing facility, working capital, and other general corporate purposes.

Boustead Securities, LLC and EF Hutton, a division of Benchmark Investments, LLC, are acting as the representatives of the underwriters for the offering.

The registration statement on Form S-1 (File No. 333-269566) relating to the shares being sold in this offering was filed with the U.S. Securities and Exchange Commission (the "SEC") on February 3, 2023, and became effective on February 9, 2023. A final prospectus related to the proposed offering will be filed and made available on the SEC's website at https://www.sec.gov/. The offering is being made only by means of a prospectus. Copies of the final prospectus may be obtained, when available, from EF Hutton, division of Benchmark Investments, LLC, Attn: Syndicate Department, 590 Madison Ave., 39th Floor, New York, New York 10022, by telephone at (212) 404-7002, by fax at (646) 861-4697, or by email at syndicate@efhuttongroup.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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'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

Order products at www.realstuffsmokables.com

Safe Harbor Statement

This press release contains forward-looking statements. In addition, from time to time, we or our representatives may make forward-looking statements orally or in writing. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Such forward-looking statements relate to future events or our future performance, including: our financial performance and projections; our growth in revenue and earnings; and our business prospects and opportunities. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as "may," "should," "expects," "anticipates," "contemplates," "estimates," "believes," "plans," "projected," "predicts," "potential," or "hopes" or the negative of these or similar terms. In evaluating these forward-looking statements, you should consider various factors, including: (i) potential failure to meet projected development and related targets; (ii) changes in applicable laws or regulations that may impact our products and business; (iii) the effect of the COVID-19 pandemic on the Company and its current or intended markets; and (iv) other risks and uncertainties described herein, as well as those risks and uncertainties discussed from time to time in other reports and other public filings with the Securities and Exchange Commission (the "SEC") by the Company. These and other factors may cause our actual results to differ materially from any forward-looking statement. Forward-looking statements are only predictions. The forward-looking events discussed in this press release and other statements made from time to time by us or our representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties, and assumptions about us. We are not obligated to publicly update or revise any forward-looking statement, whether as a result of uncertainties and assumptions, the forward-looking events discussed in this press release and other statements made from time to time by us or our representatives might not occur.

For investor inquiries, please contact:

Sandro Piancone, CEO of Hempacco
Investor Relations: ir@hempaccoinc.com
619-779-0715

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