TORONTO--(BUSINESS WIRE)--Halo Labs Inc. ("Halo" or the "Company") (NEO: HALO, OTCQX: AGEEF, Germany: A9KN) is pleased to provide an update to a previous press release on September 4th that the Company anticipates signing definitive documents with Bophelo Biosciences Ltd. (“Bophelo”) in Lesotho, Africa within the next two to three weeks.
“The planned acquisition of Bophelo is a very important milestone for Halo. Bophelo’s initial 5-hectare site is almost two times the size of the Evans Creek site in Southern Oregon, and Bophelo’s conditional approval of up to 200 hectares of outdoor grow would be one of largest cannabis cultivation projects worldwide that we know of,” said Kiran Sidhu, CEO and Co-Founder of Halo Labs.
Halo is a cannabis extraction company that develops and manufactures quality cannabis oils and concentrates, which are the fastest growing segments in the cannabis industry. Halo is a global leader in cannabis oil and concentrates, having produced over 4 million grams of oils and concentrates since inception. The Company has expertise across all major cannabis manufacturing processes, leveraging a variety of proprietary processes and products. The forward-thinking company is led by a strong management team with deep industry knowledge and blue-chip experience. The Company is currently operating in California and Oregon, as well as in Nevada with our partner Just Quality, LLC, and in Lesotho with the Bophelo strategic partnership. With a consumer-centric focus, Halo will continue to market innovative, branded, and private label products across multiple product categories.
For further information regarding Halo, see Halo’s disclosure documents on SEDAR at www.sedar.com.
ABOUT BOPHELO BIOSCIENCE
Bophelo Bioscience is based in the Kingdom of Lesotho, Southern Africa and is the holder of one of a limited number of licenses issued in Lesotho for the production of medicinal cannabis products. Situated in proximity 70 kilometers to the capital city of Maseru, the Company’s operating site is an ideal location with ample labor, free water, flat land area, and low crime rates. The favorable high altitude, low humidity climate provides clean and organic growing conditions within the pristine mountainous region. With the motto "Sechaba se tlisa lerou" (community brings wealth), Bophelo highlights the value of community and empowerment of the Basotho people with a focus on the development of women and youth.
Lesotho is the first African country to legalize the cultivation and manufacturing of medicinal cannabis, becoming one of the most sought-after locations for cannabis operations in the world. The country has issued a limited number of licenses since legalization in 2016 and has been exporting cannabis since early 2018.
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". The forward-looking information and forward-looking statements contained herein may include, but is not limited to, statements regarding Bophelo Bioscience signing and closing and the size and scope of Bophelo’s license.
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. 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.