Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 33 n° 348

Halo Completes Signing of Definitive Agreement to Acquire Bophelo Bioscience

Posted by fidest press agency su sabato, 30 novembre 2019

Toronto, Ontario. Halo Labs Inc. (“Halo” or the “Company”) (NEO: HALO, OTCQX: AGEEF, Germany: A9KN) is pleased to announce that it has signed a definitive acquisition agreement with respect to its proposed acquisition of Bophelo Bioscience & Wellness (Pty) Ltd (“Bophelo”) in exchange for 40,786,667 common shares of Halo (the “Transaction”).Located in the Kingdom of Lesotho, Southern Africa, Bophelo has the country’s largest licensed land area for cultivation of medicinal grade cannabis products. Bophelo currently leases a 5-hectare fully licensed greenhouse canopy, and has conditional approval to expand to an additional 200 hectares of licensed outdoor canopy. Halo expects to start exporting cannabis grown at Bophelo in Q2 2020. In total, once fully implemented, the 205-hectare Bophelo site is expected to be one of the largest cannabis cultivations in the world.
Bophelo Bioscience is based in the Kingdom of Lesotho, Southern Africa, in the Mafeteng Region. Bophelo is the holder of one of a limited number of operational licenses issued in Lesotho for the production and export of medicinal cannabis products. As the largest licensed landholder in Lesotho, Bophelo’s 9-year license allows it to cultivate, manufacture, import and export cannabis products. Situated approximately 70 kilometres from the capital city of Maseru, Bophelo’s operating site is in an ideal location with ample labor, abundant free water, flat land, and low electricity costs. The favorable high altitude and low humidity climate provide clean, organic growing conditions in this pristine mountainous region. With over 200 days of annual sunshine, Bophelo can support as many as 3 full growing seasons a year.


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