Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 34 n° 349

Halo Collective Completes Acquisition of Premium Indoor Grow and Distribution Hub in Portland, Oregon

Posted by fidest press agency su mercoledì, 28 settembre 2022

Toronto. Halo Collective Inc. (“Halo” or the “Company”) (NEO: HALO) (OTCQX: HCANF) (Germany: A9KN) announced, further to its press release dated August 27, 2021, that it has completed the acquisition of all of the substantial assets of three operating entities doing business as Pistil Point in Oregon which collectively hold multiple cannabis licenses. With this transaction, Halo now has full ownership of a range of indoor and outdoor cultivation, manufacturing, and distributions assets, along with an expanded library of genetics that is expected to allow the Company to continue to execute its vertically integrated strategy in Oregon with enhanced competitiveness and economics as it penetrates additional retail dispensaries in the state. Pursuant to the acquisition, Halo has purchased all of the substantial assets of Decatur One LLC, Bradford Two LLC, and Bradford Three LLC through its wholly-owned subsidiary ANM Inc. The consideration payable by Halo in connection with the acquisition was US$4.0 million, payable in 47,224 common shares in the capital of Halo. The common shares issued are subject to a hold period expiring on the date that is four (4) months and one day from the date of issuance. In connection with the acquisition, the parties have waived the requirement to hold US$2.0 million worth of common shares in escrow for potential indemnification claims and the achievement of specified milestones. This transaction follows the acquisition of Food Concepts LLC, the master tenant of the approximately 55,000 square feet indoor cannabis cultivation, processing, and wholesaling facility in Portland, Oregon, in 2021, where the businesses operate.

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