Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 34 n° 271

Posts Tagged ‘lesotho’

Central Bank of Lesotho Gives Halo Green Light to Proceed With Acquisition of Bophelo

Posted by fidest press agency su giovedì, 16 luglio 2020

Toronto, Ontario Halo Labs Inc. (“Halo” or the “Company”) (NEO: HALO, OTCQX: AGEEF, Germany: A9KN) is pleased to announce that it has obtained regulatory approval from the Central Lesotho Bank (“CBL”) to proceed with its proposed acquisition (the “Transaction”) of Bophelo Bioscience & Wellness (Pty) Ltd (“Bophelo”). With approval from CBL in hand, Halo is moving towards closing the Transaction and this is expected to be completed prior to the end of July 2020. Located in Mafeteng in the Kingdom of Lesotho in 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 a total of 200 hectares of licensed outdoor canopy. Once fully implemented, the 200-hectare Bophelo site is expected to be one of the largest cannabis cultivations in the world.

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Halo Provides Update to Operations in Lesotho, Africa

Posted by fidest press agency su sabato, 1 febbraio 2020

Toronto, Ontario. Halo Labs Inc. (“Halo” or the “Company”) (NEO: HALO, OTCQX: AGEEF, Germany: A9KN) is pleased to announce an update to ongoing business operations involving the Bophelo Biosciences & Wellness Ltd (“Bophelo”) in Lesotho, Africa.
Bophelo and Halo have also launched the Phase 1 expansion comprising 8 hoop houses and 1 Cravo greenhouse to grow multiple strains of potential medicinal cannabis exports from Lesotho. Halo expects to complete the 1.2 hectare build by the end March and anticipates harvesting half an acre of canopy from it in 2020. At full utilization, Phase 1 houses 3 acres of total canopy or approximately 120,000 square feet. The Company plans to put additional infrastructure into production to expand the canopy by year end.Met comments from Lesotho on the project, “We have started to roll out infrastructure that will enable us to deliver flower and biomass for oil production to international markets by July 1, 2020. Presently, we are sourcing materials required for the build out and readying the site for the Cravo Greenhouse including site prep, IT infrastructure, and more. We are building an experienced team to execute on Bophelo and Halo’s plan to export medicinal cannabis from Lesotho.” Met’s team onsite includes Roderick Teague, a seasoned agricultural project manager from the blueberry and tobacco industries. Teague has overseen largescale agriculture projects of up to 120 hectares that produced several metric tons of yield in countries such as Zimbabwe, Zambia, Mozambique and South Africa. Additionally, the team is comprised of professionals from the coffee industry with experience in international agricultural business.
Recently, Halo announced commencement for formal European Union Good Agricultural and Collection Practices (“EU GACP”) certification for growing medical cannabis in Lesotho that can be distributed to the United Kingdom. Utilizing Pharmaconsulta, Halo will meet all regulation standards to receive EU GACP certificates for Bophelo operations for medicinal plants as published by the European Medicines Agency and World Health Organization. Pharmaconsulta will also provide full audits on the agricultural and cultivation sites, implement a quality control system compliant with EU GACP standards while also providing full training to staff.Upon receipt of the EU GACP certification, Halo anticipates utilizing Canmart Limited (“Canmart”), a holder of wholesale distribution and special cannabis licenses in the United Kingdom, to import Cannabis Based Products for Medicinal use (“CBPMs”) into the UK. There are over 1.4 million people using CBPMs in the UK with a market expected to surpass $3 billion by 2024. Halo is in the process of acquiring Canmart to gain a foothold in the UK. The UK is expected to be the start of Halo’s plan to gain more distribution channels into European markets. Currently, the Company is reviewing opportunities in Malta, Israel and beyond.Halo anticipates garnering statutory central bank approvals in Lesotho and South Africa imminently and following the final closing of the Bophelo acquisition. Additionally, Louisa Mojela the Founder and Chairman of Wiphold Finance, a $250 million private equity fund, is leading active discussions with multiple commercial banks throughout the African region. This institutional and non-dilutive financing would be among the first of its kind in cannabis and would be used for further construction and buildout as well as provide working capital for the Company.Kiran Sidhu, Halo CEO and Co-Founder, comments, “We are excited to be finalizing the acquisition of Bophelo. Since initially announcing the partnership in December of 2018, our position has evolved to the anticipated acquisition of the company. The promise that the Kingdom of Lesotho offers in the cannabis industry and appointing Louisa Mojela to Halo Chairman places the Company in a strong position for global expansion.”

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Halo commences formal EU GACP Certification Process for cannabis grown at Bophelo in Lesotho, Africa

Posted by fidest press agency su sabato, 18 gennaio 2020

Halo Labs Inc. (“Halo” or the “Company”) (NEO: HALO, OTCQX: AGEEF, Germany: A9KN) is pleased to announce Bophelo Bioscience & Wellness (“Bophelo”) has formally commenced the certification process required to achieve European Good Agricultural and Collection Practices (“EU GACP”) accreditation for cannabis grown at the Company’s 205-hectare cultivation site at Bophelo in Lesotho, Africa.Obtaining EU GACP certification would allow Halo to export medicinal cannabis and Cannabis-Based Products for Medicinal use (“CBPMs”) to the United Kingdom as well as countries in the European Union. According to Prohibition Partners, the CBPM market in the UK is comprised of 1.4 million consumers who use CBPMs for health treatments with an additional 4.7 million recreational cannabis users. This translate to a medical cannabis market that is predicted to be worth roughly $1.3 billion by 2024.
To achieve EU GACP accreditation, Halo has engaged Pharmaconsulta Limited (“Pharmaconsulta”), an independent firm based out of Malta in Europe, that specializes in pharmaceutical regulatory affairs.Pharmaconsulta will implement a comprehensive quality control program to ensure that cannabis grown at Bophelo may be exported to various legal international markets. The firm will ensure the following milestones are completed:
Obtain an EU GACP certificate for Bophelo, as well as meet the requirements and standards for starting materials of Herbal Origin, as published by the European Medicines Agency (“EMEA”) and World Health Organization (“WHO”) guidelines on GACP for medicinal plants
Provide full audits on the agricultural and cultivation sites in Lesotho, Africa
Draft and implement a quality control system compliant with EU GACP standards
Provide all necessary training to the Bophelo staff
Kiran Sidhu, CEO and Co-Founder of Halo, commented, “We are excited to finalize the steps required to export medical cannabis products from Lesotho into Europe. Becoming GACP certified and meeting all necessary standards is critical in our execution internationally. Pharmaconsulta will ensure that the Bophelo facilities receive all permits for exporting medicinal cannabis to the United Kingdom through Halo’s planned acquisition target Canmart Limited.”
Indeed 1,000 flowering plants in 8 hoop houses are under production at Bophelo which Halo expects will be harvested in Q2 2020. Moreover, cloning processes with DNA Genetics are underway for February with an anticipated harvest date in Q3 of 2020.
Mr. Sidhu continues, “We are extremely pleased at the speed at which we are realizing our strategic vision for Bophelo. By the time the maiden harvest is complete the facility is expected to be fully certified and ready to export legal cannabis. International exportation is currently an untapped opportunity for Halo and will add sizeable, incremental topline revenue.We also look forward to delivering innovative strains with the DNA genetics partnership to future harvests. With three grow seasons a year anticipated at Bophelo, we expect to establish ourselves quickly as one of the leading suppliers of consistently high-quality cannabis to regulated international markets.” Halo is a global cannabis extraction company that develops and manufactures quality cannabis oils and concentrates, which are the fastest growing segments in the cannabis industry. Halo is a global leader in cannabis oil and concentrates, having produced over 4.5 million grams of oils and concentrates since inception. The Company has expertise across all major cannabis manufacturing processes, leveraging a variety of proprietary processes and products. The forward-thinking company is led by a strong management team with deep industry knowledge and blue-chip experience. The Company is currently operating in California and Oregon, as well as in Nevada with our partner Just Quality, LLC, and in Lesotho with the 205-hectare Bophelo cultivation zone.With a consumer-centric focus, Halo will continue to market innovative, branded, and private label products across multiple product categories. Halo recently acquired Dispensary Track platform which will alleviate customer flow constraints experienced by dispensaries and enable direct consumer interaction.

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Bophelo Partners with DNA Genetics in Lesotho

Posted by fidest press agency su domenica, 5 gennaio 2020

Halo Labs Inc. (“Halo” or the “Company”) (NEO: HALO, OTCQX: AGEEF, Germany: A9KN) is pleased to announce that Bophelo Bioscience & Wellness (“Bophelo”) has signed a strategic alliance and seed purchase agreement with OG DNA Genetics Inc. (“DNA Genetics” or “DNA”), to give the Bophelo exclusive rights to develop new and existing DNA Genetics’ strains of medical cannabis in Lesotho (the “Strategic Alliance”) for worldwide exportation.
Halo signed a definitive agreement to acquire Bophelo on November 27th, 2019. The acquisition of Bophelo by Halo is expected to close within the next 30 days. DNA is one of the world’s leading creators of high-quality cannabis seeds, whose strains consistently contain high cannabinoid and terpene concentrations. DNA’s cannabis strains already command premium market prices in Canada, the United States and Europe and are some of the most sought-after strains and seeds in the world.
Under the terms of the Strategic Alliance, Bophelo is the only company in Lesotho that has the right to grow and develop DNA’s strains of cannabis through breeding, cultivation, phenotyping and prompt regulatory certification.
Louisa Maliako Mojela, Chairman of Bophelo, commented, “Bophelo’s strategic alliance with DNA Genetics in Lesotho gives us a significant competitive edge, as we strive to become one of the world’s leading exporters of medical cannabis and related products.Our vision is to create the largest medical cannabis cultivation zone on the planet at Bophelo. This is fast becoming a reality. The maiden harvest of 1,000 plants is on course for early Q2 2020, the first phase of greenhouse construction nearing completion and we are securing international GACP certification for our site. The alliance with DNA is even further validation of how rapidly our Lesotho operations have developed and the unlimited potential of this opportunity.Now, with the introduction of DNA’s award-winning world-class cannabis strains, we can accelerate our breeding program to grow medical-grade cannabis in very large quantities at Bophelo, which will command premium export prices.”

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