Not for Distribution to U.S. Newswire Services or For Dissemination in the United States
Toronto, Ontario – December 23, 2020 – Halo Labs Inc. (“Halo” or the “Company“) (NEO: HALO, OTCQX: AGEEF, Germany: A9KN) is pleased to announce that all resolutions put forward in the Company’s management information circular dated November 25, 2020 (the “Information Circular“) were passed at Halo’s special meeting of shareholders held on December 23, 2020 (the “Meeting“).
At the Meeting the shareholders of the Company approved:
- one or more amendments to the articles of the Company for one or more future consolidations of the Company’s issued and outstanding common shares on the basis of consolidation ratios to be selected by the board of directors of the Company within a range between 10 pre-consolidation common shares for one (1) post-consolidation common share and 200 pre-consolidation common shares for one (1) post-consolidation common share, provided that, (a) the cumulative effect of the one or more consolidations shall not result in a consolidation ratio that exceeds 200 pre-consolidation common shares for one (1) post-consolidation common share, and (B) such consolidations occur prior to the earlier of the 10 month anniversary of the Meeting and the next annual meeting of shareholders; if, and at such time(s) following the date of the Meeting, as may be determined by the board of directors of the Company in its sole discretion; and
- an amendment to the articles of the Company to change the name of the Company from “Halo Labs Inc.” to “Halo Collective Inc.”, if, and at such time following the date of the Meeting, as may be determined by the board of directors of the Company in its sole discretion;
each as more particularly described in the Information Circular.
The Company has filed a report of the voting results on all resolutions voted on the Meeting on the Company’s SEDAR profile at www.sedar.com.
The timing and effective date of any potential name change or share consolidation is still to be determined and will be communicated to the market in advance of such corporate action becoming effective, in accordance with applicable securities laws.
Halo is a leading, vertically-integrated cannabis company that cultivates, extracts, manufactures, and distributes quality cannabis flower, oils, and concentrates, and has sold approximately six million grams of oils and concentrates since inception. Halo continues to evolve its business and scale efficiently, partnering with trustworthy leaders in the industry, who value the Company’s operational expertise in bringing top-tier products to market. Current growth
includes expansion in key US markets, the United Kingdom and Africa, with planned expansion into the Canadian retail market.
Halo is led by a strong, diverse, and innovative management team, with deep industry knowledge and blue-chip experience. The Company is currently operating in the United States in California, Oregon and Nevada. The Company sells cannabis products principally to dispensaries under its own brands Hush, Mojave, Exhale and under partnership or license with OG DNA Genetics, Terphogz (doing business as Zkittlez™) and FlowerShop*, a cannabis lifestyle and conceptual wellness brand in which G-Eazy is a partner and key member of Flowershop*.
As part of continued expansion and vertical integration in the US, Halo boasts several grow operations throughout Oregon and California. In Oregon, the Company has a combined 7 acres of outdoor cultivation, including East Evans Creek, a six-acre grow site in Jackson County, and Winberry Farms; a one-acre grow site located 30 miles outside Eugene in Lane County. In California, the Company is building out Ukiah Ventures, a planned 30,000-square-foot indoor grow, processing, and manufacturing facility including up to an additional five acres of industrial land to expand. Recently, Halo partnered with Green Matter Holding (“GMH”) to purchase Bar X Ranch in Lake County, with plans to develop up to 80 acres of cultivation which would comprise the largest grow in Northern California.
Internationally, the Company is currently cultivating cannabis at Bophelo Bioscience & Wellness (Pty) Ltd (“Bophelo”) in Lesotho which holds one of the largest marijuana cultivation licenses in Africa with a future capacity of up to 495 acres. To further Halo’s global presence, the Company has recently acquired CBPM importation and distribution licensing in the United Kingdom via cannabis suppliers Canmart Ltd (“Canmart”). Halo expects the cultivation and manufacturing operations of Bophelo, combined with the importation and distribution capabilities of Canmart, to drive growth of a well-positioned business to serve the U.K. market.
The Company also has acquired a range of software development assets, including technology platforms CannPOS, Cannalift, and more recently CannaFeels. Halo also owns the discrete sublingual dosing technology, Accudab.
For further information regarding Halo, see Halo’s disclosure documents on SEDAR at www.sedar.com.