Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 32 n° 341

The total purchase price of the Canmart acquisition

Posted by fidest press agency su venerdì, 3 luglio 2020

Toronto, Ontario – Halo Labs Inc. (“Halo” or the “Company”) (NEO: HALO, OTCQX: AGEEF, Germany: A9KN) announces that further to the press releases dated December 24, 2019 and March 3, 2020, and April 27, 2020, the Company has agreed to another extension of the binding letter of intent (the “LOI”) to acquire all of the common shares of Canmart Limited (“Canmart”), a licensed importer and distributor of cannabis based products for medicinal use (“CBPM’s”). Due to the ongoing global COVID-19 pandemic, the Company has agreed to the extension to allow both parties adequate time to complete due diligence and negotiate the definitive agreements while under shelter-in-place restrictions. While the extension grants until August 21, 2020 to finalize, the Company anticipates signing the final SPA and closing the transaction on or about July 15, 2020.The total purchase price of the Canmart acquisition is anticipated to be C$6 million, payable in Halo common shares (“Halo Shares”) and at a deemed price of C$0.35 per share, which is based on the 30-day VWAP of the Halo Shares on the NEO Exchange as of December 23, 2019, the day the LOI was originally executed (“the Consideration”). The Consideration will be paid periodically as Canmart achieves critical business milestones. Recently, Halo entered into binding agreements to acquire one dispensary in Los Angeles, three KushBar branded dispensaries, five development permits in Alberta Canada, and Canmart Limited which holds wholesale distribution and special licenses allowing the import and distribution of cannabis based products for medicinal use (CBPM’s) in the United Kingdom. Halo is led by a strong, diverse management team with deep industry knowledge and blue-chip experience. The Company is currently operating in the United States in California, Oregon, and Nevada, while having an international presence in Lesotho within a planned 200+ hectare cultivation zone via Bophelo as well as planned importation and distribution in the United Kingdom via Canmart.

Rispondi

Inserisci i tuoi dati qui sotto o clicca su un'icona per effettuare l'accesso:

Logo di WordPress.com

Stai commentando usando il tuo account WordPress.com. Chiudi sessione /  Modifica )

Google photo

Stai commentando usando il tuo account Google. Chiudi sessione /  Modifica )

Foto Twitter

Stai commentando usando il tuo account Twitter. Chiudi sessione /  Modifica )

Foto di Facebook

Stai commentando usando il tuo account Facebook. Chiudi sessione /  Modifica )

Connessione a %s...

 
%d blogger hanno fatto clic su Mi Piace per questo: