Halo Collective Announces Acquisition of Management Companies in Connection with Previously Announced Dispensary Acquisitions
/NOT FOR DISTRIBUTION TO
The Company acquired 100% of the membership interests of B&C in exchange for the issuance of 118,650,349 common shares in the capital of the Company ("Common Shares"). B&C is the management company for
The Company acquired 100% of the membership interests of POI11 in exchange for the issuance of 118,650,349 Common Shares. POI11 is the management company for
In connection with the acquisitions of B&C and POI11, the Company issued an aggregate of 17,797,552 Common Shares to an arm's length party as a finder's fee. Such shares are subject to a statutory hold period of four months and one day.
In addition, further to its previous press release, the Company has issued an aggregate of 47,380,770 Common Shares as non-refundable deposits in connection with the acquisitions of SDF11 and ZXC11, which acquisitions are expected to close following receipt of the approval of the
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
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
As part of continued expansion and vertical integration in the US, Halo boasts several grow operations throughout
Internationally, the Company is currently cultivating cannabis at
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.
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". Forward-looking information may relate to anticipated events or results including, but not limited to: the release of the Common Shares subject to escrow and the closing of the Company's planned acquisitions of SDF11 and ZXC11, Halo's planned expansion into the Canadian retail market, Halo's planned operations in
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: delays in obtaining required approvals from regulators, changes in general economic, business and political conditions, including changes in the financial markets; delays in obtaining required licenses or approvals; delays or unforeseen costs incurred in connection with construction; the ability of competitors to scale operations in
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 .