TORONTO--(BUSINESS WIRE)--Halo Labs Inc. (“Halo” or the "Company") (NEO: HALO; OTCQX: AGEEF, Germany: A9KN) today announces that it will host a conference call on Wednesday, August 19th 2020 to discuss its financial results for the three months ended June 30, 2020 (“Q2 2020”) and provide an operational update for each business unit.
Halo continues to expand its business footprint, despite the challenging conditions due to the COVID-19 pandemic and lack of available capital that have set back certain cannabis companies.
Halo’s revenue in Q2 2020 increased 17.8% when compared with the three months ended March 31, 2020 (“Q1 2020”). Gross margins show a similar improving trend from -3.9% in Q1 2020 to 19.6% in Q2 2020. The Company also has reduced operating costs in Q2 2020 and has had three consecutive quarters of improving financial performance1.
Earnings Call Details
Topic : Halo Labs Q2, 2020 Financial and Operational Results
Date & Time: August 19th at 4:15 p.m. EDT / 1:15 p.m. PDT
Registration : Investors can register below for the discussion and Q&A with Kiran Sidhu, the Chief Executive Officer, and Philip Van Den Berg, the Chief Financial Officer.
Halo is a leading cannabis cultivation, manufacturing, and distribution company that grows, extracts and processes quality cannabis flower, oils, and concentrates, and has sold over five million grams of oils and concentrates since inception. Halo continues to evolve its business by delivering value with its products. Current growth includes verticalization 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, the Company acquired a dispensary permit in Los Angeles, and entered into an agreement to acquire Ukiah Ventures Inc. both in California. The Company plans to acquire three KushBar branded dispensaries and 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, with an international presence in Lesotho within a planned 200-hectare cultivation zone via Bophelo Bioscience & Wellness (Pty) Ltd., as well as planned importation and distribution in the United Kingdom via Canmart.
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".
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: unexpected costs or delays in the completion of the Company's proposed dispensaries and other operation; negative results experienced by the Company as a result of general economic conditions or the ongoing COVID-19 pandemic; delays in the ability of the Company to obtain certain regulatory approvals; unforeseen delays or costs in the completion of the Company's construction projects; adverse changes to demand for cannabis products; ongoing projects by competitors that may impact the relative size of the Company’s growing operation; adverse changes in applicable laws; adverse changes in the application or enforcement of current laws, including those related to taxation; increasing costs of compliance with extensive government regulation; changes in general economic, business and political conditions, including changes in the financial markets; risks related to licensing, including the ability to obtain the requisite licenses or renew existing licenses for the Company's proposed operations; dependence upon third-party service providers, skilled-labor and other key inputs; and the other risks disclosed in the Company's annual information form dated April 16, 2020 and 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.
1 Please refer to the Company’s PR dated August 17th, announcing our Q2 financials