/Not for Distribution to
Learn more about
The planned acquisition of
- Increase Halo's genetics library by offering more exotic strains.
- Increase Halo's total owned and managed cultivated acreage to 11 acres of outdoor cultivation in
Oregon , creating one of the larger cultivation companies in the state. - Cultivate fresh, high-quality flower year-round in greenhouses producing light dep flower nine months out of the year.
- Provide space for Halo to potentially add two more Tier 2 managed licenses on the William's site to bring the total to 5 acres of outdoor and greenhouse cultivation at Williams.
- Add a wholesale license on-site to serve as a hub for flower processing, trimming, and other ancillary services for all Halo's
Southern Oregon farms to add an additional revenue stream. - Add six more greenhouses for more year-round light dep material, increasing yearly flower sales.
- Add a line of pre-rolls and concentrates to the excellent William's Wonder brand. Pre-rolls and concentrates made up over 20% of retail sales in the
Oregon market in 20201. By adding new SKUs in these categories, William Wonder brand is poised for growth.
Per unaudited year end results, 2020 sales for William's Wonder products in
Upon signing the Asset Purchase Agreement, Halo will assist with the day-to-day operations of the
The signing of the definitive agreements for
Halo has also entered into a Consulting Services Agreement with
Transaction Details
Upon closing of the Transaction,
Concurrently with signing the Asset Purchase Agreement, ANM and the William's Wonder Entities also entered into a Services Agreement pursuant to which
"With this acquisition, we now will add significant cultivation capacity in
"When I decided to sell my business, I knew Halo would be a great fit because it's a company that shares our values and commitment to quality and local sourcing. I'm very excited and look forward to working with Halo to further expand the William's Wonder brand," said William Earl II, owner of William's.
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1 All sales figures sourced from the
About
Halo is a leading, vertically integrated cannabis company that cultivates, extracts, manufactures, and distributes quality cannabis flower, oils, and concentrates and has sold approximately nine million grams of oils and concentrates since inception. Halo continues to expand its business and scale efficiently, partnering with trustworthy leaders in the industry who value Halo's operational expertise in bringing top-tier products to market.
The Company is currently operating in
As part of continued expansion and vertical integration in the
Halo 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. The Company intends to spin-off these assets along with its intellectual property and patent applications into its subsidiary
Halo has recently announced its intention to reorganize its non-
For further information regarding Halo, see Halo's disclosure documents on SEDAR at www.sedar.com
Connect with
About
As a family-owned business, William's strongly believes in supporting the local economy—that's why whenever possible, William's uses local supplies that are sourced from a network of exceptional
William's staff is comprised of close friends and family members who share its commitment to quality. They're good, honest peeps—the kind you'd like to have a beer with (or better yet, some of our product).
For more information about
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
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 completion of the Transaction and the impact thereof on the prospects of Halo, the expansion of Halo's operation 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: unforeseen delays or circumstances that prevent the applicable stock exchanges from commencing trading in the Company's shares or warrants; delays in obtaining required licenses or approvals, delays or unforeseen costs incurred in connection with construction, the ability of competitors to scale operations in Northern California, delays or unforeseen difficulties in connection with the cultivation and harvest of Halo's raw material, changes in general economic, business and political conditions, including changes in the financial markets; and the other risks disclosed in the Company's annual information form dated March 31, 2021 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.
Third Party Information
This press release includes market and industry data that has been obtained from third party sources, including industry publications. The Company believes that the industry data is accurate and that its estimates and assumptions are reasonable, but there is no assurance as to the accuracy or completeness of this data. Third party sources generally state that the information contained therein has been obtained from sources believed to be reliable, but there is no assurance as to the accuracy or completeness of included information. Although the data is believed to be reliable, the Company has not independently verified any of the data from third party sources referred to in this press release or ascertained the underlying economic assumptions relied upon by such sources
[1] All sales figures sourced from the
SOURCE
© Canada Newswire, source