TORONTO, Feb. 4, 2021 /CNW/ – Halo Collective Inc. (“Halo” or the “Company“) (NEO: HALO) (OTCQX: HCANF formerly AGEEF) (Germany: A9KN) is pleased to announce the entering into of a partnership with Nightingale Remedies (“Nightingale“) and PeakBirch Logic Inc. (“PeakBirch“) (CSE:PKB, OTCQX: KTNNF, Germany: KYH2), leveraging the group’s formulation, manufacturing, and e-commerce expertise to develop and launch a line of products combining functional, health and wellness attributes of mushrooms, without psychoactive or psychedelic properties.
Formulations will be spearheaded by Halo’s wholly-owned subsidiary, Halo Peripherals, and Nightingale—a premier consumer-driven, non-psychoactive, cannabinoid product development and manufacturing company. Together with leading e-commerce retailer PeakBirch, the combined efforts are expected to deliver exceptionally high quality, cGMP, functional mushroom products to individuals seeking alternative therapies and increased wellness and quality of life options.
“Two months ago, we announced PeakBirch’s intent on entering other markets and expanding the product segments offered to our customers,” said Marc Mulvaney, Chief Executive Officer of PeakBirch. “We are so excited to enter into the functional mushroom market with our product partner Halo and manufacturing partner Nightingale Remedies. This partnership provides us with the opportunity to develop an online marketplace for premium mushroom products at shroommart.com. We plan to launch on Shroommart in Q1 2021.”
Patrick Brennan, Chief Executive Officer of Nightingale Remedies, shared, “Alongside our new partners, Halo and PeakBirch, we are creating top-of-the-line health and wellness products to serve the functional mushroom market demand that is rapidly growing. To see the extent of our cannabidiol market growth in just one year already excites us. We expect to see significant growth with the addition of our product expansion in the functional mushroom market.”
The partnership group intends to leverage Halo’s top-selling brand Hush to launch the innovative mushroom line known as “Hushrooms™.” The combination of terpenes, non-psychoactive cannabinoids and mushroom extract is anticipated to deliver an uplifting yet non-psychoactive experience for consumers in easily ingested vegan capsules.
Terpenes have been found to generate synergistic and therapeutic benefits such as anti-bacterial, anti-fungal, anti-insomnia, anti-proliferate, and antioxidant properties enhancing the benefits of other compounds such as CBD. Hushrooms™ will be launched in three such varieties: Rise, Mellow, and Tranquil combining mushroom extract, terpenes, and non-psychoactive cannabinoids. The triad of formulations will be available for purchase throughout the United States through shroommart.com.
Rise Hushrooms™ will be formulated to enhance the user’s focus level while supporting energy and alertness. Each capsule will contain CBD, cannabigerol (CBG), two types of mushrooms: Lion’s Mane and Cordyceps, and an energy-focused terpene blend consisting of α-Pinene, Limonene, β-Pinene, α-Phellandrene, Terpinolene, Nerolidol, and Nerol. The combination Lion’s Mane and Cordyceps is designed to promote cognitive health and exercise performance.
Mellow Hushrooms™ will be formulated to combat stress and anxiety. These Hushrooms™ will contain CBD, cannabichromene (CBC), Reishi and Lion’s Mane mushrooms, Cordyceps, and a terpene blend to support stress-relief, comprised of alpha-terpineol, beta-caryophyllene, bisabolene, limonene, linalool, myrcene, nerolidol and phytol.
Tranquil Hushrooms™ will be formulated to support sleep-inducing effects and to aid in relaxation. These capsules will provide the user with a five-in-one immunity-focused mushroom blend made of Chaga, Maitake, Reishi, Shiitake and Turkey Tail; combined with CBD, cannabinol (CBN) and a calming terpene blend formulated with a-phellandrene, beta-caryophyllene, citral, citronellol, limonene, linalool, naphthalene, nerolidol, nyrcene, nerol and valencene.
As the three companies continue to research and development, they also plan to capitalize on Halo’s proprietary nasal inhaler technology, Nasalbinoid – Halo’s innovative line of convenient, all-natural, personal inhalers available in functional botanical cannabinoid formulations specifically designed to deliver uplifting experiences. The group intends to launch personal inhalers with Hushroom™ formulations combining mushroom extract with non-psychoactive cannabinoids and terpenes (CBD, CBG, CBN and terpenes) via the convenient and portable nasal inhaler format.
CEO of Halo Collective, Kiran Sidhu commented, “This isn’t the first time Halo has forayed into functional cannabinoid products. Nasalbinoid marked our initial entry into functional wellness products and we gained insight on how consumer experiences can be enhanced by the combination not just of cannabinoids and terpenes but also botanical extracts. We plan to extrapolate these learnings not only to formulate Hushrooms in a capsule but also in a portable nasal inhaler formulation.”
According to Data Bridge Market Research, the functional mushroom market is expected to make substantial strides between 2021 and 2028. Data Bridge Market Research anticipates the market will grow with a CAGR of 7.22 percent and reach USD $555.94 billion globally by 2028. Analysts have cited the increasing use of the ingredient by the nutraceutical sector to propel this growth.
Functional mushrooms refer to the rare form of mushrooms which grow in dense forests, high on the Himalayan plateau, on fallen logs and even on the heads of caterpillars. These mushrooms possess antioxidants and nutritional value, and certain functional mushrooms can help in strengthening immune systems. These could also be used as dietary support options with low calories, high protein and numerous vitamins and vital minerals. Additionally, the growth in consumer awareness regarding antioxidants, nutritional benefits and changing preferences towards a healthy lifestyle are anticipated to drive growth in the functional mushroom market.
Sidhu continued, “Our industry is only in the preliminary stages of the future of wellness. Functional mushrooms will provide an initial avenue for consumers to experience the therapeutic benefits of mushrooms. While Hushrooms™ are devoid of psychotropic effects, our goal was to create an innovative product line highlighting health and wellness properties for an elevated take on alternative therapies. We’re especially thrilled to be working with experts in their fields to help us with the product launch. The manufacturing facility is FDA, cGMP, and ISO 9001 certified and we anticipate customers rejoicing in Hushrooms™, the next generation of functional mushroom products.“
Halo is a leading, vertically integrated cannabis company that cultivates, extracts, manufactures and distributes quality cannabis flower, oils and concentrates, and has sold approximately eight 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 U.S. markets, the United Kingdom, Africa, the Republic of Malta in partnership with MedCan Ltd., and 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 U.S. 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™), Winberry Farms and FlowerShop.
As part of continued expansion and vertical integration in the U.S., Halo boasts several grow operations throughout Oregon and California. In Oregon, the Company has a combined seven acres of outdoor cultivation, including East Evans Creek, a six-acre grow site in Jackson County, and Winberry Farms, a one-acre grow site 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. Halo has also partnered with GMH to purchase Bar X Ranch in Lake County, California, with plans to develop up to 80 acres of cultivation, which would comprise the largest grow in Northern California.
Recently, the Company has entered into a non-binding letter of intent with Red Light Holland Corp. for the purpose of creating a joint venture to become a licensed psilocybin manufacturer to supply psilocybin products to licensed service centers in the State of Oregon.
Internationally, the Company is currently cultivating cannabis at Bophelo Bioscience & Wellness (Pty) Ltd (“Bophelo”) in Lesotho, South Africa, 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 recently acquired cannabis-based product for medicinal use (“CBPM”) importation and distribution licensing in the United Kingdom via cannabis suppliers Canmart Ltd. 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.
For further information regarding Halo, see Halo’s disclosure documents on SEDAR at www.sedar.com.
PeakBirch is a multi-brand management company providing services & related products to the cannabis industry that believes its strong focus on and investment in marketing, brand, education to help customers make a sound purchasing decision, strategic brand partnerships, and a delivery software technology will create a business with the potential to generate a significant and sustained return on invested capital over the long-term.
About Nightingale Remedies
Nightingale Remedies is a premier consumer-driven Cannabinoid company specializing in product development, production, distribution and retail placement. Production facilities operate at the highest levels of compliance including cGMP and FDA approved to ensure that safe quality products are delivered to consumers in the fast-growing Hemp space. The custom product formulation is offered to companies looking to enter into the hemp products business. Our development team includes a compounding pharmacist with 30 years of experience, a field experienced chemist, and several naturopathic and Medical Doctors. Nightingale Remedies advocates for hemp accessibility with an emphasis on health and wellness benefits.
Cautionary Note Regarding Forward-Looking Information and Statements
This press release contains certain “forward-looking information” within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only Halo’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Halo’s control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur” or “will be achieved”. The forward-looking information and forward-looking statements contained herein may include, but are not limited to, statements about Halo’s partnership with Nightingale and Peakbirch, the prospects thereof and the production, distribution and sale of functional mushroom products, Halo’s planned expansion into the Canadian retail market, the expected size and capabilities of the final facility planned at Ukiah Ventures, the size of Halo’s planned cultivation facility in Northern California and the ability of Bophelo and Canmart to serve the U.K. market.
By identifying such information and statements in this manner, Halo is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from those expressed or implied by such information and statements. In addition, in connection with the forward-looking information and forward-looking statements contained in this press release, Halo has made certain assumptions. Although Halo believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. Among others, the key factors that could cause actual results to differ materially from those projected in the forward-looking information and statements are the following: unexpected costs or delays in the completion of the Company’s proposed dispensaries and other operations; negative results experienced by the Company as a result of general economic conditions or the ongoing COVID-19 pandemic; delays in the ability of the Company to obtain certain regulatory approvals; unforeseen delays or costs in the completion of the Company’s construction projects; adverse changes to demand for cannabis products; ongoing projects by competitors that may impact the relative size of the Company’s growing operation; delays or unforeseen difficulties in connection with the cultivation and harvest of Halo’s raw material; adverse changes in applicable laws; adverse changes in the application or enforcement of current laws, including those related to taxation; increasing costs of compliance with extensive government regulation; changes in general economic, business and political conditions, including changes in the financial markets; risks related to licensing, including the ability to obtain the requisite licenses or renew existing licenses for the Company’s proposed operations; dependence upon third party service providers, skilled labor and other key inputs; and the other risks disclosed in the Company’s annual information form dated April 16, 2020 and other disclosure documents available on the Company’s profile at www.sedar.com. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected.
The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and Halo does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward-looking information and statements attributable to Halo or persons acting on its behalf is expressly qualified in its entirety by this notice.
These statements provided herein have not been evaluated by the FDA. The products discussed herein are not intended to diagnose, treat, cure, or prevent any disease.