Halo signs LOI to acquire Phytocann Group, a leading European wellness CBD company
Following the acquisition of Phytocann, Halo management is expecting to create two separate companies under Halo Collective, a THC focused entity, and a non-THC focused entity:
Phytocann International Holdings: Phytocann and the remaining non-THC assets of Halo's are expected to be combined to establish a multi-national wellness platform consisting of a range of non-THC products that will be headquartered in Switzerland.
Halo Collective Cannabis Holdings: is expected to be established as a pure-play cannabis operation focused on the west coast of North America, with cultivation, extraction, manufacturing, distribution, and retail operations in California and Oregon. The business would have a singular focus on enhancing the growth and profitability of Halo's vertically integrated THC businesses, headquartered in Canada.
Halo expects to complete the Planned Acquisition in the next 90 days.