Halo Labs Completes Issuance of Shares to Independent Consultants and Supplier
By Business Wire
Originally Published: Apr 28, 2020
Not for Distribution to U.S. Newswire Servicers or For Dissemination in the United States
TORONTO — Halo Labs Inc. (“Halo” or the “Company”) (NEO: HALO, OTCQX: AGEEF, Germany: A9KN) today announced the issuance of 10,860,213 common shares of the Company to certain independent consultants of the Company and a supplier of the Company, in lieu of cash consideration (the “Compensation Shares”) at a price of C$0.115 per Compensation Share, being the closing price of the common shares of the Company on April 3, 2020.
On April 27, 2020 the Company issued 10,860,213 Compensation Shares in satisfaction of approximately C$1,248,925 in fees, payables, and other compensation accrued between December 2019 and April 2020 and payable to independent consultants of the Company and a supplier of the Company. All of the Compensation Shares were issued pursuant to an exemption from the prospectus requirement of applicable securities laws. 1,567,330 of the Compensation Shares, representing all of the Compensation Shares issued to a supplier, are subject to a hold period of four months and one day from the date of issuance. No Compensation Shares were issued to related parties (within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”)).
About Halo Labs
Halo is a leading cannabis cultivation, manufacturing, and distribution company that grows, extracts, and processes quality cannabis flower, oils, and concentrates. Halo sold over 5 million grams of oils and concentrates since inception and has continued to evolve its business through delivering value with its products. Via verticalization, Halo has expanded 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.
Recently, Halo entered into binding agreements to acquire one dispensary in Los Angeles, three KushBar branded dispensaries, five development permits in Alberta Canada, and Canmart Limited which holds wholesale distribution and special licenses allowing the import and distribution of cannabis based products for medicinal use (CBPM’s) in the United Kingdom. Halo is led by a strong, diverse management team with deep industry knowledge and blue-chip experience. The Company is currently operating in the United States in California, Oregon, and Nevada, while having an international presence in Lesotho within a planned 200+ hectare cultivation zone via Bophelo as well as planned importation and distribution in the United Kingdom via Canmart.
For further information regarding Halo, see Halo’s disclosure documents on SEDAR at www.sedar.com.
