Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 33 n° 244

Posts Tagged ‘halo’

Halo Collective Inc. Reports Record First Quarter Results

Posted by fidest press agency su mercoledì, 19 maggio 2021

TORONTO Halo Collective Inc. (“Halo” or the “Company”) (NEO: HALO), (OTCQX: HCANF), (Germany: A9KN) today announced its financial and operational results for three months ending March 31, 2021 (“Q1 2021”). The Company reported record revenues of $9.9 million for Q1 2021, a 123% increase compared to the previous year. This included the sale of over 5.2 million grams of cannabis products principally to dispensaries in Oregon and California, a 253% year over year increase. Organic revenue growth was 62%, the highest organic growth recorded in the Company’s history. The Company also reported a gross profit of $2.0 million, an increase from $(172.2k) for the three months ended March 31, 2020 (“Q1 2020”). The adjusted gross profit was $2.2 million (compared to $117.4k in Q1 2020). The reported gross margin in Q1 2021 was 19.7% in comparison with -3.9% in Q1 2020. Complete results are reported in the Company’s consolidated financial statements for the three months ended March 31, 2021 (the “Consolidated Financial Statements”) and associated management’s discussion and analysis (the “Q1 2021 MD&A”). In response to the Company’s record results, CEO and Co-Founder Kiran Sidhu commented, “Now, in 2021, we will begin to reap the rewards that we initiated with the change in our product range in 2020. We exceeded our own sales forecast by almost $1.0 million, and we believe a further increase in sales is possible. With the positioned start-up of Bar-X Farms, the first major sales by Bophelo, the start-up business with FlowerShop* which recently sold out its initial launch of 1,200 units in a few hours, the expected sales by Canmart, and the three planned dispensaries in the Hollywood area, we remain on target to achieve our overall revenue target of $75.0 million.” Philip van den Berg, CFO and Co-Founder continued, “The Q1 results demonstrate we are on target to the 2021 guidance previously communicated. When we released our financial statements for the year ended December 31, 2020, we provided guidance of annual revenues of $75 million for the fiscal year ended 2021 and positive EBITDA by the fourth quarter of 2021. Our first quarter showed that the core business is growing fast, and margins are improving across all operations. With the exception of Oregon cultivation and potentially California dispensary assets, the Company will be slowing down our acquisitions which should significantly reduce our corporate costs, in turn leading the Company to profitability.”

Posted in Estero/world news | Contrassegnato da tag: , , | Leave a Comment »

Halo Collective Announces Appointment of Ryan Kunkel

Posted by fidest press agency su mercoledì, 21 aprile 2021

Halo Collective Inc. (“Halo” or the “Company”) (NEO: HALO) (OTCQX: AGEEF) (Germany: A9KN) is pleased to announce the appointment of Ryan Kunkel, Chief Executive Officer and Founder of Have a Heart, to the Halo team as the Company’s Vice Chairman and as an Independent Director of the Company.Mr. Kunkel is a leading industry expert and entrepreneur in cannabis, influencing its legal, regulatory, and operational development since the legalization of recreational marijuana use in Washington state in 2011. He was instrumental in the raise of $50M in two private offerings, which enabled him to expand the Have a Heart footprint by creating an organizational infrastructure to maintain the dispensary storefronts at a rapid pace. With a focus on operations, fundraising, and application development, Kunkel quickly expanded the brand to 13 operational stores, in six different states with a total of 26 winning applications. Under his stewardship, the Have a Heart business grew to more than 500 active employees. His expertise in the industry enabled him to identify and capture the leading market share in Washington state, one of the most saturated cannabis markets in the U.S.Have a Heart consistently ranks among the top 20 dispensaries in Washington state. Currently, the Belltown (7th) and Skyway (19th) locations boast this ranking, which Kunkel attributes to the distinctive product procurement and knowledge held by employees, who are genuinely familiar with the product mix. Have a Heart takes pride in placing the customer first and responds to comments, feedback, priding itself on excellent customer service.Mr. Kunkel’s professional accolades include Marijuana Venture’s 40 under 40 in 2018, where he was recognized for his success and promise in the cannabis industry with Have a Heart’s track record and performance. He continued to build on this opening delivery and retail operations in five jurisdictions across California. The 2019 gross revenue for Have a Heart was $58.2M, with sales per square foot averaging $8,553.

Posted in Estero/world news | Contrassegnato da tag: , | Leave a Comment »

Halo Collective Inc. Reports Record Fourth Quarter and Full Year 2020 Results

Posted by fidest press agency su sabato, 3 aprile 2021

Halo Collective Inc. (“Halo” or the “Company”) (NEO: HALO, OTCQX: HCANF, Germany: A9KN) today announced its financial and operational results for three and twelve months ending December 31, 2020. The Company reported revenues of $21.6 million for the year ended December 31, 2020, a 23% decrease in comparison with the previous year. Profitability, however, was up overall. Adjusted gross profit, excluding fair value gains in biological assets, impairment of inventory and non-reoccurring costs due to market circumstances, was $5.2 million (compared to $2.9 million in 2019). The adjusted gross margin in 2020 was 24% in comparison with 10% in 2019. Complete results are reported in the Company’s consolidated financial statements for the year ended December 31, 2020 (the “Consolidated Financial Statements”) and associated management discussion and analysis (the “MD&A”).

Posted in Estero/world news | Contrassegnato da tag: , , | Leave a Comment »

Halo Collective Provides Update on Bophelo Bioscience

Posted by fidest press agency su martedì, 9 marzo 2021

Toronto, Ontario. Halo Collective Inc. (“Halo” or the “Company”) (NEO: HALO) (OTCQX: HCANF) (Germany: A9KN) provides a comprehensive update about Bophelo Bioscience & Wellness (Pty) Ltd. (“Bophelo”) — the Company’s wholly-owned subsidiary which is operating a 200-hectare cannabis site near Mafetang in Lesotho, Africa. Bophelo quadrupled the amount of cultivation space in the last year, despite the site’s depletion of necessary imported goods for its development resulting from the current climate of the COVID-19 pandemic. Specifically, the Bophelo operations expanded from 5,400 square feet to over 21,000 square feet of flowering canopy. Currently, this year’s harvest is expected to yield 750 kilograms of product, selling 1,000 kilograms this year. As part of Bophelo’s upward trajectory, it is expected the buildout for flowering canopy will reach up to 1.2 hectares this year with further plans to expand to up to 2.2 hectares by the end of 2022.

Posted in Estero/world news | Contrassegnato da tag: , , | Leave a Comment »

Halo Provides Update On 1600 Acre California Farm

Posted by fidest press agency su lunedì, 22 febbraio 2021

Toronto Halo Collective Inc. (“Halo” or the “Company“) (NEO: HALO) (OTCQX: HCANF formerly AGEEF) (Germany: A9KN) is pleased to announce that on February 15, 2021, the Company acquired a 44% ownership interest in Triangle Canna Corp. (“Triangle Canna”) the parent company of Farm Opco (as defined herein). As previously announced in September 2020, the Company partnered with Green Matter Holding Inc. (“Green Matter”) to purchase 1,600 acres of farm property in Lake County, California (the “Farm”). The Farm was purchased by Lake County Natural Health LLC (“LCNH”), which is owned 50% by the Company’s wholly-owned indirect subsidiary, PSG Coastal Holdings LLC and 50% by Green Matter. Triangle Canna and the Farm OpCo are in the process of submitting applications to the California Department of Food and Agriculture for up to 330 California state cannabis cultivation licenses, and have already submitted an application to Lake County, California, for an “early activation” cannabis cultivation permit which, upon receipt, would entitle Triangle Canna to cultivate cannabis on up to 80 acres of the Farm. Triangle intends to complete a financing by filing an offering statement under Regulation A+ to raise up to $75M, subject to qualification by the U.S. Securities and Exchange Commission. Triangle also intends to pursue a listing of its common stock on a recognized North American stock exchange following the completion of its proposed Regulation A+ financing.

Posted in Estero/world news | Contrassegnato da tag: , , | Leave a Comment »

Halo Collective Announces Closing of $11.5 Million Overnight Marketed Offering

Posted by fidest press agency su domenica, 21 febbraio 2021

Toronto, Ontario. Halo Collective Inc. (“Halo” or the “Company”) (NEO: HALO, OTCQX: HCANF, Germany: A9KN) is pleased to announce the closing of its previously announced overnight marketed public offering (the “Offering”) of units of the Company (the “Units”). In connection with the Offering, the Company issued an aggregate of 65,714,450 Units for aggregate gross proceeds of $11,500,029, which includes the full exercise of the over-allotment option by the Underwriters (as defined below).The Offering was completed pursuant to an underwriting agreement (the “Underwriting Agreement”) dated February 12, 2021, between the Company and Eight Capital, Canaccord Genuity Corp. and PI Financial Corp. (collectively, the “Underwriters”). The net proceeds received by the Company from the Offering are intended to be used for raw materials and packaging supplies, the development of Canmart Limited, the development of Bophelo Bioscience & Wellness (Pty) Ltd. and working capital and general corporate purposes.

Posted in Estero/world news | Contrassegnato da tag: , , | Leave a Comment »

Halo Signs Definitive Agreement to Acquire two Additional LA Dispensary License Applicants

Posted by fidest press agency su martedì, 9 febbraio 2021

Toronto. Halo Collective Inc. (“Halo” or the “Company”) (NEO: HALO) (OTCQX: HCANF) (Germany: A9KN) is delighted to announce the signing of definitive agreements to acquire an interest in two successful Los Angeles dispensary license applicants and 100% ownership of each applicant’s related management company (“the Transaction”), in a strategic move to further the Company’s presence in California’s growing cannabis market. As Halo continues to implement its seed to sale verticalization strategy, owning and operating retail businesses is a key tactic to increase value by controlling distribution and adding operating margin. As such the signing of definitive agreements to acquire 66 ⅔% of the two Los Angeles dispensary businesses, as well as 100% of their respective management companies marks a significant milestone for the Company. Halo plans to open the flagship stores in Hollywood and Westwood adjacent to Beverly Hills and at least one site will feature the first FlowerShop* branded dispensary. The Company plans to brand the first applicant SDF11 LLC (“SDF11”), located in Hollywood, FlowerShop*, a cannabis lifestyle and conceptual wellness brand by Feel Better in which G-Eazy is a partner and key member. As previously disclosed, Halo also owns 25% of Feel Better LLC (“Feel Better”). The second dispensary, ZXC11 LLC (“ZXC11”), has leased approximately 1,500 square feet in Westwood within two miles of the University of Los Angeles California campus (“UCLA”). Upon closing the Transaction, the Company plans to deepen its operations through these two storefronts and the Company’s first dispensary acquisition that is already slated to open in the North Hollywood (“NOHO”) village of Los Angeles.

Posted in Estero/world news | Contrassegnato da tag: , , | Leave a Comment »

Halo Labs Inc. Announces Name Change to Halo Collective Inc

Posted by fidest press agency su mercoledì, 27 gennaio 2021

Toronto. Halo Collective Inc. (“Halo” or the “Company”) (NEO: HALO, OTCQX: AGEEF, Germany: A9KN) announced today that, further to the shareholder approval obtained by the Company at its meeting of shareholders held on December 23, 2020, the Company has changed its name from “Halo Labs Inc.” to “Halo Collective Inc.” In connection with the name change, the Common Shares will begin trading on the OTCQX under the trading symbol “HCANF,” trading on the OTCQX under the new trading symbol is expected to occur on or before January 28, 2021. The Common Shares will begin trading on the Frankfurt Stock Exchange under the trading symbol “A9KM” on or before January 28, 2021.The common shares of the Company (the “Common Shares”) and $0.90 warrants of the Company (the “Warrants”) will begin trading under the Company’s new name on the Neo Exchange Inc. (the “NEO”) on January [27], 2021. The Common Shares and Warrants will continue to trade on the NEO under the trading symbols “HALO” and “HALO.WT”, respectively. The new CUSIP numbers assigned to the Common Shares and Warrants are 40638K101 and 40638K119, respectively. No action will be required by existing shareholders with respect to the name change.As the Company experienced unprecedented growth since its inception in 2015 that started in a chicken coop in Medford, OR, Halo Collective aims to revolutionize the cannabis industry on a global scale. Positioned for the future of the consumer-packaged goods industry in cannabis, Halo Collective continues to offer a myriad of diverse product lines. Products range from the highest quality flower, concentrates, edibles, cartridges and more, from top shelf to value products that fit the needs of medicinal and recreational cannabis users in key markets worldwide.

Posted in Roma/about Rome | Contrassegnato da tag: , , | Leave a Comment »

Halo Labs Announces Unexpected Surge in Sales Enters into Commitment Letter for CDN$10 Million Unsecured Credit Line

Posted by fidest press agency su domenica, 24 gennaio 2021

Toronto, Ontario Halo Labs Inc. (“Halo” or the “Company”) (NEO: HALO, OTCQX: AGEEF, Germany: A9KN) today announces that unexpected surge in sales and the Company has entered into a commitment letter (the “Commitment Letter”) to obtain up to CDN$10 million in unsecured, non-dilutive and non-convertible credit from an arm’s length lender.”January has started off with a bang as a result of unanticipated increased sales of finished goods to dispensary clients. We need capital for raw material, packaging supplies, inventory restocking and general working capital purposes,” stated Kiran Sidhu, Chief Executive Officer of the Company.The financing is comprised of an unsecured non-revolving line of credit for up to CDN$10 million (the “Credit Facility”). The Company will be permitted to draw from the Credit Facility for a period of 12 months from the date of closing. Individual draws under the Credit Facility will bear interest at a rate of 9% per annum and have a maturity date of 18 months from the date of drawdown.

Posted in Estero/world news | Contrassegnato da tag: , , | Leave a Comment »

Halo Labs Announces December Record Sales

Posted by fidest press agency su venerdì, 15 gennaio 2021

Halo Labs Inc. (“Halo” or the “Company”) (NEO: HALO) (OTCQX: AGEEF) (Germany: A9KN) is pleased to announce that product sales continue to grow. The Company reports aggregate, unaudited monthly sales of approximately $2.3 million, one of the highest totals in the Company’s history and a record total for the month of December. While December is historically a slower month in terms of sales, due to less selling days, the holiday season and flooded outdoor flower markets related to fall harvests, the stated sales represent a 135% increase over December 2019.

Posted in Uncategorized | Contrassegnato da tag: , , , | Leave a Comment »

Halo Announces Record Retail Sales Growth in Oregon Cannabis Market for November 2020

Posted by fidest press agency su giovedì, 14 gennaio 2021

Toronto (Canada) Halo Labs Inc. (“Halo” or the “Company”) (NEO: HALO) (OTCQX: AGEEF) (Germany: A9KN) announces that BDS Analytics, Inc. (“BDSA”) has reported record year over year retail sales growth in November 2020 of Halo products in Oregon’s recreational cannabis market. Oregon retail sales reached $89.9 million in November 2020. This represented 32% year over year growth when compared to November 2019 retail sales. Sales between January and November 2020 surpassed $1 billion, exceeding analysts’ forecasts for Oregon for the entire year 1. Amidst this strong growth in Oregon, Halo outperformed the market average across multiple product categories.

Posted in Estero/world news | Contrassegnato da tag: , | Leave a Comment »

Red Light Holland and Halo Labs Announce Intention to Enter Oregon Medicinal Psilocybin Market

Posted by fidest press agency su martedì, 24 novembre 2020

Toronto, Ontario. Halo Labs Inc. (“Halo”) (NEO: HALO) (OTC: AGEEF) (Germany: A9KN) and Red Light Holland Corp. (CSE: TRIP) (FSE: 4YX) (OTC: TRUFF) (“Red Light Holland”) are pleased to announce they have entered into a non-binding letter of intent for the purposes of creating a joint venture to become a licensed psilocybin manufacturer to supply psilocybin products to licensed service centers in the State of Oregon, and to explore other potential business opportunities in this new regulated market, subject to compliance with all applicable Oregon laws and regulations. “Clearly, we are very excited with the recent results of Oregon Measure 109 where progressive Oregonians have voted in favor of becoming the first state in the US, to allow the use of psilocybin, for therapeutic use. We take pride at Red Light Holland in our self-regulated responsible adult use psilocybin legal product (iMicrodose packs in the Netherlands), which we feel could become a model for the development of psilocybin products for the Oregon regulated market to be used to potentially treat chronic mental health issues like anxiety, depression, and addiction” said Red Light Holland CEO and Director Todd Shapiro. “We are aware that these are early days for the Oregon psilocybin market, we cannot make medical claims, and the path ahead is still a long one as the Oregon Health Authority still has to create a state-licensed, psilocybin-assisted therapy program over the next two years. This is exactly why we have entered into a non-binding LOI with Halo Labs, as CEO Kiran Sidhu and his team have deep regulatory experience and relationships with Oregon lawmakers and state officials, having founded Halo Labs, a successful vertically integrated cannabis company that started in the State of Oregon and now operates in multiple US states, Africa and in the UK” added Shapiro.

Posted in Estero/world news | Contrassegnato da tag: , , , | Leave a Comment »

Halo Signs Definitive Agreement to Acquire Canmart

Posted by fidest press agency su venerdì, 9 ottobre 2020

TORONTO–(BUSINESS WIRE) Halo Labs Inc. (“Halo” or the “Company”) (NEO: HALO, OTCQX: AGEEF, Germany: A9KN) has entered into a definitive share purchase agreement, (the “Share Purchase Agreement”) pursuant to which the Company, in exchange for up to 72,463,768 common shares of Halo (“Halo Shares”), will acquire all of the issued and outstanding shares of Canmart Ltd. (“Canmart”), a licensed importer and distributor of cannabis-based products for medicinal use (“CBPMs”) in the United Kingdom (“UK”) (the “Acquisition”). Issuance of certain Halo Shares will be subject to milestones and, once issued, will be subject to volume trading restrictions (see “Transaction Overview” below).The UK population consumes one of the greatest amounts of cannabis per capita in the world. With an estimated 4.7 million cannabis users out of a total general population of 66.4 million in 2019, the number of users per capita even approaches California, currently the single largest cannabis market in the world.1 While the estimated number of people in the UK who use cannabis to treat chronic health conditions is only 1.4 million,2 the legal use of medical cannabis is still in its relative infancy. The UK legalized CPBMs, including plant materials, oils, tinctures, edibles and capsules, in November 2018.Nearly all CPBM prescriptions are imported, because there is no formal domestic manufacturing program in the UK.3 However, as legal prescriptions are on the rise,4 recent regulations have sought to streamline and ease the importation of medical cannabis to the UK. In March 2020, the Medicines & Healthcare Products Regulatory Agency (the “MHRA”) and the Home Office implemented changes that enable Canmart to import large quantities of CPBMs and hold inventory of these approved medicines. The Company’s research of publicly available information indicates that Canmart and four other companies in the UK currently possess all of the licenses necessary for bulk importation and distribution of CPBMs.

Posted in Economia/Economy/finance/business/technology, Estero/world news | Contrassegnato da tag: , , , | Leave a Comment »

Halo and High Tide Announce Amended Terms on Sale of KushBar Assets to Halo

Posted by fidest press agency su giovedì, 10 settembre 2020

Calgary, AB, CNW / − Halo Labs Inc. (“Halo”) (NEO: HALO, OTCQX: AGEEF, Germany: A9KN) and High Tide Inc. (“High Tide”) (CSE:HITI) (OTCQB:HITIF) (Frankfurt:2LY) and are pleased to announce that they have entered into an amended and restated asset purchase agreement (the “Amended Agreement”) to amend the terms of the previously announced asset purchase agreement dated February 14, 2020 (the “Asset Purchase Agreement”) wherein High Tide agreed to sell KushBar retail cannabis assets to Halo Labs Inc. a wholly owned subsidiary of Halo.Under the Amended Agreement, High Tide will sell its three operating KushBar retail cannabis stores (the “Portfolio”) to Halo for $5.7 million, payable in the form of:
a) a deposit of $3.5 million which has already been paid to High Tide by way of issuance of 13,461,538 Halo common shares to High Tide at a deemed price of $0.26 per common share;
b) a convertible promissory note to be issued by Halo on closing (the “Initial Note”) in the principal amount of $1.8 million with a conversion rate of $0.16 per Halo common share; and
c) a convertible promissory note to be issued by Halo on the 12-month anniversary of closing (the “Earnout Note”; together with the Initial Note, the “Halo Notes”) in the principal amount of $400,000 with a conversion rate of $0.16 per Halo common share, provided that certain revenue thresholds are met. If the Portfolio has produced aggregate revenue of less than the set threshold during the prior 12 months, then the principal amount of the Earnout Note will be reduced dollar for dollar.

Posted in Estero/world news | Contrassegnato da tag: , , | Leave a Comment »

Halo Announces Indoor Grow JV With Zkittlez™ in California

Posted by fidest press agency su venerdì, 28 agosto 2020

Toronto, Ontario – August 19, 2020 – Halo Labs Inc. (“Halo” or the “Company”) (NEO: HALO; OTCQX: AGEEF, Germany: A9KN) is pleased to announce that the Company has entered into a Letter of Intent (the “LOI”) dated August 3, 2020 to establish a joint venture and strategic alliance with Terphogz, LLC, doing business as Zkittlez™️ (“Zkittlez”). The joint venture will establish and operate a state- and locally licensed commercial cannabis cultivation facility at Ukiah Ventures Inc. (UVI). Halo and Zkittlez plan to jointly operate this large indoor grow. The proposed joint venture (the “Zkittlez JV”) will combine Zkittlez™️ world-famous genetic strains and growing acumen with Halo’s processing, manufacturing and distribution strengths to bring a range of top-shelf products to the California market.The proposed Zkittlez™️ JV is an 18,000 square foot project in which Halo plans to start the buildout in last quarter of 2020 and to complete the build-out by mid-2021, utilizing Halo’s working capital line.The joint venture will produce and manufacture cannabis products, using Zkittlez™️ existing proprietary cannabis genetics, under Halo’s various licenses in California. The collaboration will then distribute these genetics in various cannabis products in California, under Zkittlez’s existing brand and strain names, as well as jointly developing and commercializing new and unique cannabis genetics in the heart of Mendocino, California.

Posted in Estero/world news | Contrassegnato da tag: , | Leave a Comment »

Halo Acquires 100% of Ukiah Ventures Inc. and Lays Groundwork for Accelerated Revenue Growth in California

Posted by fidest press agency su martedì, 18 agosto 2020

Toronto, Ontario Halo Labs Inc. (“Halo” or the “Company”) (NEO: HALO; OTCQX: AGEEF, Germany: A9KN) is pleased to announce that it has entered into a definitive agreement dated effective August 5, 2020 (the “Share Exchange Agreement”) with Ukiah Ventures Inc. (“Ukiah”), the shareholders of Ukiah (the “Ukiah Shareholders”), the holder of the outstanding warrants of Ukiah (the “Warrantholder”), and Origins-Cali, Inc. (“Origins”), pursuant to which the Company will acquire all the issued and outstanding shares of Ukiah (the “Ukiah Shares”) in exchange for securities of the Company (the “Transaction”). Prior to the Transaction, the Company holds a 14.7% equity stake in Ukiah as a result of the Company’s initial investment in Ukiah in December 2019.
Beyond the ability to acquire supply agreements with Emerald Triangle cultivators, the Company intends to swiftly exercise the option held by Ukiah to acquire a 100% interest in licensed operator Origins. With all necessary licenses in hand, cultivation, processing, and distribution, Halo intends to put up a 576 light grow, leveraging its relationship with a top-tier cultivator in a planned indoor facility, thus guaranteeing a continuous supply chain of high quality cannabis for the lucrative and growing California market. Halo’s President, Katie Field, summarizes the benefits of the strategic acquisition: “The acquisition of Ukiah, with its current and competitive relationships serving some of the Emerald Triangle’s finest flower producers, and execution of our planned, large indoor grow in a joint venture with a respected, leading grower and seed bank, we believe these milestones will increase Halo’s access to the best raw materials in California. By bolstering our vertical supply chain in this market we anticipate a sizeable upside in forecasted revenue.” Ukiah’s Phase I business model currently offers value-added services for local cultivators, including trimming, curing, drying, freezing and storage. Long-standing relationships with the local farming communities that utilize the facility for processing and drying will continue, as Halo intends to use some portion of the space — not allocated for a proposed indoor grow — for this business. These relationships will also maintain Halo’s ability to identify arbitrage opportunities when acquiring biomass, procuring any required supply at competitive prices.
Halo intends to build out Phase II of the business model at Ukiah with a large indoor grow. While the option of leaving the newly-acquired space as a perfectly-situated, centralized cannabis processing facility remains, Halo’s plan for a large indoor grow with a top-tier grower and notable genetics will strengthen the seed-to-sale strategy. With cultivation and Type 11 distribution licenses in place, Halo plans to utilize the majority of the facility for a state-of-the-art, indoor cultivation and manufacturing operation, that saves costs on such expenses as transportation, while introducing new products to the market. With existing architectural drawings for 10,000 sq. ft. of canopy over six grow rooms, a nursery, and a storage room, the newly proposed indoor grow would expand the operation to eight individual rooms, adding an additional 3,000 – 4,000 sq. ft. When the proposed project, utilizing an estimated 18,000 sq. ft. of the total warehouse space, is stabilized, it is expected to generate about USD$23 million per year of revenue based on wholesale pricing on premium product of USD$3,000 per pound, and an expected yield of about 7,800 pounds per year. This new operation alone is expected to generate USD$5.4 million per year of operating profit . Indoor cultivation will command higher prices and profit margin while allowing for year around supply. Halo is planning to start the build-out by later this year, utilizing Halo’s working capital line. Product should be available for sale early next year.Halo also plans to introduce jarring capabilities to make 1/8th jars, as well as to apply for a Type 7 license to increase the on-site production of concentrates and cannabis vape cartridges. From this new Ukiah hub, Halo can stock more on-hand inventory, expand existing distribution capabilities, and develop in-house logistics to meet both fluctuating and increasing demand. With Type 7 manufacturing abilities, Halo would look to add cold rooms and washers to make hash and rosinated hash products; add frozen connexes to store fresh-frozen material for live resin production; add a C1D1 room for blasting overflow from the Cathedral City operation, and vacuum decanters / ovens to manufacture live resin and shatter. Halo would also utilize its working capital line to build out these capabilities. (abstract)

Posted in Estero/world news | Contrassegnato da tag: , , , | Leave a Comment »

Halo Labs Reports Financial Results for Fourth Quarter and Year End December 31, 2019

Posted by fidest press agency su martedì, 21 aprile 2020

Halo Labs Inc. (“Halo” or the “Company”) (NEO: HALO, OTCQX: AGEEF, Germany: A9KN) today announced its 2019 financial and operational results. The Company reported revenues of $28.1 million for the year ended December 31, 2019, a 158% increase in comparison with the previous year. Adjusted gross profit was $5.3 million, excluding fair value gains in biological assets, impairment of inventory and non-reoccurring costs due to market circumstances in the fourth quarter in 2019. The adjusted gross margin in 2019 was 19% in comparison with -1% in 2018. Complete results are reported in the Company’s consolidated financial statements for the year ended December 31, 2019 and associated management discussion and analysis (the “MD&A”).Market circumstances across the Company’s two core markets in the fourth quarter materially affected financial results. On September 26, 2019, in response to the emerging health crisis tied to nicotine and cannabis vaping products, the Oregon Health Authority (OHA) issued a public health advisory and on October 4, 2019, Oregon’s Governor, Kate Brown, took the OHA warning a step further and issued an executive order immediately banning flavored cannabis vaping products, including cannabis vape cartridges, for 180 days. At the same time, California Governor Gavin Newsom and the California Department of Public Health (CDPH) advised all Californians to stop vaping until the root cause for the lung illness was pinpointed. The Governor Newsom’s order also required stores selling vaping devices to post warnings about the health risks of those products. BDS analytics found that vape product sales declined sharply through the end of 2019. Using data across Arizona, California, Colorado, Nevada and Oregon, sales had plummeted approximately 25% by October with additional declines expected throughout Q4. While revenue in 2019 fell below management’s initial expectations, when faced with several challenging market and regulatory dynamics Halo elected to forgo revenues that would cause the business to draw heavily upon cash reserves and thus strengthened Halo’s financial position relative to the industry as a whole. The Company had working capital of $15.3 million at December 31, 2019 compared with $6.2 million in 2018. At December 31, 2019, the Company had cash of $6.1 million, of which $1.7 million was restricted. The Company’s large inventory balances have been critical during the Covid-19 pandemic given supply chain disruptions experienced worldwide.

Posted in Estero/world news | Contrassegnato da tag: , , | Leave a Comment »

Halo Announces Proposed Partnership with FlowerShop and G-Eazy

Posted by fidest press agency su lunedì, 20 aprile 2020

Halo Labs Inc. (“Halo” or the “Company”) (NEO: HALO, OTCQX: AGEEF, Germany: A9KN) and FlowerShop* are excited to announce a new partnership that will bring much-needed employment opportunities to communities during the uncertain times of the COVID-19 global crisis. Halo intends to acquire a membership interest in FlowerShop*, in which G-Eazy is a partner and key member of the company.Halo has entered into a letter of intent (“LOI”) to acquire a 25% membership interest in Feel Better, LLC, dba FlowerShop* (“FlowerShop*”) for $1.5 million, payable primarily in Halo common shares (the “Acquisition”). Halo and FlowerShop* will also execute a licensing, manufacturing, and distribution agreement for FlowerShop* branded products.“In the face of COVID-19, the timing to bring FlowerShop* and its mission to the market has never been more vital. Their focus on mental and physical wellness, combined with innovative direct to consumer solutions positively impact people’s needs,” commented Kiran Sidhu, CEO and Co-Founder of Halo.G-Eazy is an American rapper and producer from Oakland, CA. In addition to the success he has seen in the music industry, with multi-platinum selling hit songs, billions of song streams, and sold-out world tours — he is very active with his investments and philanthropy work in his home state of California and beyond. He comments, “I have seen first hand the power of the plant – witnessing cannabis change my mother’s life in a very positive way. I was instantly drawn to FlowerShop* and its mission to help people feel better – and knew I wanted to take on an active role as a partner. My hope is in the midst of this pandemic – FlowerShop* will be an essential business which stimulates the economy and provides comfort and joy to people through the products we create.”

Posted in Estero/world news | Contrassegnato da tag: , , | Leave a Comment »

Halo Labs Reports 118 New Dispensary Customers In Q1 2020 An Increase of 58% Quarter over Quarter

Posted by fidest press agency su giovedì, 16 aprile 2020

Halo Labs Inc. (“Halo” or the “Company”) (NEO: HALO, OTCQX: AGEEF, Germany: A9KN) today announced that the Company has sold its products into 118 new dispensaries[1] (62 new dispensaries in California and 56 new dispensaries in Oregon) in the first calendar quarter of 2020. This represents an increase in the Company’s dispensary customer base of 282% in California and 19% in Oregon compared to Q4 2019 ending December 31, 2019.
The total number of stores currently penetrated 84 of 591 in California and 236 of 659 in Oregon represent approximately 14% and 36% percent of the total licensed dispensary market indicating plenty of room to continue the rapid rate of opening new customers. The Company attributes the trajectory of promising dispensary sales results to several strategies including expanding product selection both breadth of categories and depth of SKUs and increased segmentation of product offering to compete in key categories such as cartridges which are now available in cannabis derived terpene and live resin formulations.
Halo is a leading cannabis cultivation, manufacturing, and distribution company that grows and extracts and processes quality cannabis flower, oils, and concentrates and has sold over 5 million grams of oils and concentrates since inception. Additionally, Halo has continued to evolve its business through delivering value with its products and now via verticalization in key markets in the United States and Africa with planned expansion into European and Canadian markets. With a consumer-centric focus, Halo markets innovative, branded, and private label products across multiple product categories.www.sedar.com.

Posted in Estero/world news | Contrassegnato da tag: , , | Leave a Comment »

Halo Announces Promotion of Katie Field to President of Halo and Provides Bophelo Bioscience Update

Posted by fidest press agency su venerdì, 14 febbraio 2020

Halo Labs Inc. (“Halo” or the “Company”) (NEO: HALO, OTCQX: AGEEF, Germany: A9KN) is pleased to announce that former Chief Strategy Officer, Katharyn M. Field, has been promoted to President of Halo effective February 12, 2020. Ms. Field has been a critical member of the Halo team since April 2019. Halo also expects Louisa Mojela to be appointed to Chair of the Board upon the closing of Halo’s proposed acquisition of Bophelo Bioscience (“Bophelo”).Ms. Field is a strategy consultant and executive with a career spanning both the private and public sectors. Ms. Field’s resume includes notable companies and institutions such as The White House, The Brookings Institution, and Bain & Company. In 2014 she entered the cannabis industry and led the procurement, build out, and sale of one of five original vertically integrated state licenses in Florida. Subsequently, Ms. Field operated a strategy consulting practice focused on cannabis and also spent time at MariMed in 2018 as Executive Vice President of Corporate Development. She holds an MBA from Columbia Business School and a BA with honors from Stanford University. Katie Field, President of Halo, comments, “I am honored to be promoted to President of Halo during such an exciting time in the Company’s development. With our growth both in the US as well as internationally, Halo is poised to become a cannabis conglomerate with a global footprint. There is no better time to be leading the Company in a more prominent role as the expansion continues.”Additionally, Halo expects to appoint Ms. Mojela to Chair of Halo’s board of directors, replacing Fred Leigh who will remain as an independent director. Ms. Mojela successfully founded and listed Women Investment Portfolio Holding Limited on the Johannesburg Stock Exchange that has grown to be worth over USD $250M today. She has led capital raises and held directorships at companies such as Sasol Mining (NYSE: SSL), Ixia Coal, South African Airways, Ericsson SA, Adcorp (SJ: ADR), and Sun International (SJ: SUI) amongst others.With Ms. Field and Ms. Mojela serving in senior leadership capacities at Halo, the Company will have one of the most diverse leadership teams in the cannabis industry. As a whole, the cannabis industry is largely lacking diversity in leadership positions. According to Marijuana Business Daily, less than 30% of executives in the Cannabis industry are women and less than 20% are minorities. Studies conducted by McKinsey & Company also show that companies with diverse executive teams are 21% more likely to experience above-average profits. In a growing corporate climate where diversity is becoming more critical, Halo is leading the forefront in the cannabis industry.Kiran Sidhu, CEO and Co-Founder of Halo, comments, “I am pleased that Ms. Field will serve as our first President. Also, the planned appointment of Ms. Mojela to Chair will be a historic step as the first African woman to serve as Chair of a publicly traded cannabis company. With the anticipated closing of Bophelo on the horizon, we look forward to having Ms. Mojela join our team and grow with Ms. Field serving as Halo’s President.”
In Lesotho, Africa, the initial harvest at Bophelo has begun. There are currently 350 cannabis plants that are currently flowering and being harvested with more than 1,000 additional plants still in the production cycle. Bophelo operations are progressing with Co-Founder and COO of Halo Labs, Andreas Met, currently facilitating the processes in Lesotho and working towards obtaining European Union Good Agriculture and Collection Practices certifications. The Company is anticipating closing the Bophelo acquisition shortly.

Posted in Estero/world news | Contrassegnato da tag: , , , | Leave a Comment »