Categories
Business

Halo Labs Inc (OTCMKTS:AGEEF) Signs A Definitive Accord To Acquire 100% Stake In Crimson & Black LLC

Halo Labs Inc (OTCMKTS:AGEEF) has signed a definitive accord to take over Crimson & Black LLC. The company will issue 6.43 million common shares (each share valued at $0.2332) that amount to $1.5 million. However, the company will issue the shares once LKJ meets certain performance milestones.

Acquires a controlling stake in LKJ

Halo also signed a definitive agreement to acquire a controlling stake of 66.67% in a cannabis dispensary applicant in North Hollywood – LKJ. The total value of both companies is $11.5 million. Following the deal, Halo is entitled to receive a controlling stake in LKJ11 LLC, a planned flagship dispensary. LKJ11 will form a delivery service for Hollywood Burbank, North Hollywood, Studio City, and the Eastern San Fernando Valley. Following the takeover of Crimson and LKJ, Halo will become a seed-to-sale vertically integrated company in California.

NOLA store

4,000 Sq. Ft. Nola stores boast onsite parking. It is situated in a prime location in the northwest corner of Hesby Ave and Lankershim Blvd. The retail management company – Crimson will benefit from an experienced executive team.

Commences retail sales

LKJ expects to begin retail sales in H1 2020. Californian operations will improve revenues and gross margins for Halo amid vertical integration push. Halo will also benefit from the acquisition of LKJ to make a foundation for future takeovers of dispensaries, which are scalable.

Kiran Sidhu, Co-founder and Chief Executive Officer of Halo, said the takeover of Crimson, and LKJ helps the company in its seed to sale vertical integration push. California will become the first sales territory for Halo on getting the license for NOLA, and it is operational. The company expects to replicate the same commercial pitch both internationally and across North America in all the regions. To this effect, the company signed an LOI to takeover Canmart Ltd in December 2019.

Halo will market white-labeled and its own branded cannabis products. It will also make use of the production facility at Cathedral City in Southern California, and distribution, procurement, and production in Northern California to expand direct to dispensary business. Halo will improve its revenues primarily from dispensary sales.

Categories
Marijuana

Halo Labs Inc (OTCMKTS:AGEEF) Generates Revenues Of $7.2 Million In Q3 2019 From The Sale Of Shatter And Distillate

Halo Labs Inc (OTCMKTS:AGEEF) has reported revenues of $7.2 million in Q3 2019. ANM Inc. and Coastal Harvest contributed $3.4 million each to the Q3 revenues. The main contributors to the revenue are the sale of shatter and distillate.

Signs pact with Falcon International

Halo Labs signed an accord with Falcon International to acquire all the rental premiums of its California location. The deal is in exchange for the issue of 2.7 million shares for the buyout at two sites. It reduces the rental expenditure of 26% and helps to achieve total savings of CAD 1.2 million for the company. The company included in the OTC Markets Cannabis Index on July 18, 2019. It trades under the ticker – OTCQXMJ.

Signs accord with Nabis

Halo Labs signed a distribution accord with Nabis on August 6, 2019, for the supply of branded products of Halo to the dispensaries in California. As per the agreed deal, Halo will get distribution coverage for the entire state. Nabis currently distributes the products to over 650 dispensaries in California. It also offers an intuitive platform to improve efficiency and offer simplicity to the Cannabis supply chain.

Enters a collaboration accord with ilo Vapor

Halo Labs entered a collaboration agreement with ilo Vapor on August 19, 2019, to introduce Levata. It is an alternative brand that uses DabTabs technology to deliver a unique dosage of CBD consumption solution. The company expects to begin the sale of Levata collection in Q4 2019, to the retailers with the help of sales force in Nevada, Oregon, and California.

It will also promote the sale of Levata utilizing the online retail channels and by partnering with cannabis peripheral distributors in Europe and the US. Halo Labs received Type 7 volatile manufacturing and Type 11 distribution licenses from the Californian authorities on August 26, 2019, for its Cathedral City-based second facility.

Halo Labs plans to acquire an equity stake of 17.5% in Ukiah Ventures, which is engaged in the processing, distribution, and production of cannabis. Ukiah offers value-added services that include packaging, trimming, drying, storing, and freezing cannabis. It also offers biomass procurement services. As part of the deal, Halo Labs will benefit from a consistent supply of biomass with the help of the Ukiah.

Halo Labs mobilized $4 million CAD in the second tranche through a private placement of its 3.11 common shares 9at a price of $0.31 per each share).

Categories
Marijuana

Halo Labs Inc (OTCMKTS:AGEEF) Speaks Out On Its Oregon Business

Halo Labs Inc (OTCMKTS:AGEEF) says it won’t be business as usual for its Oregon business unit (“ANM”). According to the company, the unit is set to generate orders worth $1.8 million. If all moves according to plan, the unit might generate sales totaling to $539,000.

Explaining the rise in sales

The company says the rise in sales orders may be partly to do with consumers stockpiling vape products. They may have done that upon fears that Oregon would, at some point, place a ban on these products.

However, the generated revenue will be at a figure lower than $1.8 million. Analysts project that it might be somewhere around $1.4 million.

Halo Labs has the figure for the revenues of the first six months ended June 30, 2019. The report shows the average unaudited monthly revenues standing at about $948,579.An official working with the company but who wanted his identity kept anonymous said that they have sufficient inventory. To him, there was no cause for alarm since that inventory would see them fulfill the high level of orders.

Projections into the future

This company is looking forward to generating a great harvest from its Evans Creek grow site. A good harvest will be a production of about 15,000 pounds (6,800 Kilos) of dry weight cannabis. It seeks to obtain usable cannabis that will be beneficial to users.

A ban wouldn’t mean well for the company since it will result in revenue losses. The company hopes the ban won’t be imposed in Oregon. This would translate to a continued rise in sales.

Halo has also unveiled a direct marketing campaign to the various licensed dispensaries within Oregon. In this particular regard, it has outlined a wide range of benefits associated with the DabTabsTM product line. These benefits by far surpass those associated with the conventional vape cartridges.

Over the coming few weeks, Halo will take on unveiling another similar campaign to all dispensaries in California.

Halo’s CEO has given his remarks regarding the looming ban. He opines, “I encourage the state of Oregon to focus its actions and messaging to curtail black market activities and not to impose a ban on licensed manufacturers.”

Pin It on Pinterest