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Halo Exercises Option to Acquire Outer Galactic Chocolates, a Type N License in California

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TORONTO, Jan. 15, 2020 (GLOBE NEWSWIRE) — Halo Labs Inc. (“Halo” or the “Company”) (NEO: HALO, OTCQX: AGEEF, Germany: A9KN) is pleased to announce it has exercised Mendo Distribution and Transportation’s (“MDT”) option to purchase award winning Outer Galactic Chocolates LLC (“OGC”), holder of a Type N manufacturing license. MDT was recently acquired by the Company through merger on January 9, 2020.

Transaction Highlights

  • Halo will obtain a Type N California license allowing for the production of infused and edible products
  • Halo plans to launch its Hush® edible products (gummies and syrups) in THC and 1:1 THC/CBD formulations, as well as support the expanded production and distribution of the award winning OGC-branded chocolate edibles in California
  • Halo plans to retain OGC founder as subject matter expert and consultant on edibles and gourmet chocolate production
  • Halo will own full interest in OGC, and plans to place the business under its California holding company, PSG Coastal Holdings LLC

Pursuant to the press release dated January 9, 2020, Halo acquired MDT and now has elected to exercise the Company’s option, through MDT, to acquire OGC in exchange for $500,000 of Halo’s common stock (“Halo Common Shares”). The acquisition will give Halo a license to produce infused and edible cannabis products adjacent to the MDT facility in Ukiah, California. A Type N license permits manufacturers to conduct most activities including packaging and labeling, however does not allow for extraction. For extraction in California, Halo utilizes its Type 7 licensed facility in Cathedral City, California.

In addition to obtaining the Type N license in California, Halo plans to execute a management agreement with the current management of OGC to aid in the transition and buildout of the business, which will include the introduction of both Halo-branded and other white label infused products. A strategic partnership with existing management will provide a strong base for the development of new edible cannabis products in California under the Hush® brand through channels and clientele already established by OGC.

Indeed ingestible products, in particular “gummies”, are a high value product category in the California market place. According to a July 2019 BDS Analytics report(1), gummies are the top selling ingestible product occupying numbers 1 through 17 on the list of the 20 top selling edible SKUs in California. CBD gummy formulations are also gaining traction.

Kiran Sidhu, Halo CEO and Co-Founder, comments, “Obtaining a Type N manufacturing license in California for the production of infused and edible products is a step in diversifying Halo’s product offering in this growth category. Not only are we building new lines around award winning expertise in OGC, we will support expanded distribution of OGC-branded chocolates to Southern California.  We look forward to expanding our product offering in California, one of the world’s largest cannabis markets and bringing high-end and value-driven edibles to consumers.”

In supporting the growth of OGC-branded chocolates, Halo can distribute this award-winning line of gourmet, artisanal chocolates. OGC’s award winning chef and chocolatier makes small batch edibles utilizing ingredients from local farmers with sustainable growing practices. They have been awarded “Best Dark Chocolate Hybrid” and “Best Chocolate Truffle” by Edible Magazine and took home the prize for “Best Chocolate” at the Emerald Cup in 2017. OGC cannabis infused edibles are available in milk chocolate, sugar free, and dark chocolate throughout dispensaries in Northern California.

Mr. Sidhu continues, “As with our DNA Genetics partnership, this transaction with OGC and its management allows us to add value to the Halo product portfolio, by providing high quality and award winning products. ”

Transaction Details

Pursuant to the terms of the transaction, the sole owner of all membership interests of OGC is expected to be issued 1,982,979 shares ($500,000) of Halo Common Shares that will be priced at $0.252 (C$0.329) based on the 30-day VWAP. 25% of the consideration will be due upon closing the transaction including execution of a definitive agreement and receipt of regulatory approval, with the remainder be released in equal monthly installments over the 12-month period following closing.

Completion of the transaction is subject to, among other things, the satisfaction or waiver of any conditions precedent to the consummation of the transaction (including the receipt of any requisite regulatory and stock exchange approvals).

About Halo
Halo is a global 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 4.5 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 205-hectare Bophelo cultivation zone.  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.

CONTACT INFORMATION
Halo Labs
Investor Relations
info@halocanna.com

For further information regarding Outer Galactic Chocolates, see OGC’s website at www.outergalacticchocolates.com.

(1)     The BDS Analytics Report can be found at – https://bdsanalytics.com/gummies-are-as-popular-as-ever/

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 the Company’s acquisition of OGC and its Type N License in California.

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.

Cannabis

Hobo Cannabis Company Secures Majority Market Share in Vancouver with Launch of Fourth Location

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VANCOUVER, British Columbia, Feb. 18, 2020 (GLOBE NEWSWIRE) — Hobo Cannabis Company (“Hobo”) today announces the opening of its newest retail store, located in the heart of Vancouver’s shopping district on Robson Street (1173 Robson Street). This marks the company’s fifth location province-wide, and fourth location in Vancouver, granting Hobo majority market share in the city with the launch of this 2,100 square foot store.
“We’re proud to be further investing in the growth of the cannabis industry and the local community at home on the West Coast,” said Harrison Stoker, VP Brand at Donnelly Group. “As the new year kicks off, we’re so thankful for all that we’ve achieved this past year as we’ve grown Hobo here, in Vancouver, and look forward to bringing Hobo Cannabis Company to more communities across Canada throughout 2020.”The new location features a carefully curated lobby entrance and new design elements to support the rollout of Cannabis 2.0 products including vaporizers and edibles. Hobo Robson will also showcase the company’s first terpene bar: an interactive experience that presents cannabis’ common terpenes as everyday smells, distilled into aromatic essential oil blends by the experts at the group’s Barber & Co laboratory in downtown Vancouver. The bar, which was first previewed at Lift&Co Expo Vancouver in January, will feature terpenes including Myrcene (Herbal), Limonene (Citrus), Caryophyllene (Spice), Terpinolene (Herbaceous), Pinene (Pine), Linalool (Floral) and aims to help buyers explore and get to know their favourite cannabis strains in a new way.This news follows the company’s announcement of three upcoming Ontario locations, including the first legal cannabis retail store in Timmins, as well as a location in Ottawa’s historic ByWard Market, and another in the neighbourhood of Nepean. The announcement comes ahead of the company’s market entry into the prairie provinces, with three locations currently under construction in Alberta.About Hobo Cannabis CompanyHobo Cannabis Company, a Donnelly Group venture, is a Canadian collection of privately-owned retail cannabis stores with locations in B.C., Ontario, and Alberta. As a testament to Hobo’s commitment to the consumer experience and making the cannabis buying experience disarming, compassionate and human, Hobo will employ a contemporary aesthetic rooted in simple, functional design and feature a well-considered product range and frictionless technology.Hobo Cannabis Company’s five locations now include Robson (1173 Robson Street, Vancouver), Kitsilano (1952 West 4th Avenue, Vancouver), Airport (8425 Granville Street, Vancouver), Main (4296 Main Street, Vancouver), and Kelowna (2121 Springfield Road, Kelowna) offering consumers a selection of five cannabis intents: Move (THC dominant), Lift (THC leaning), Balance (equal parts THC to CBD), Calm (CBD dominant), and Rest (THC dominant). For more information, visit https://hobo.ca.Media Contact
Jen Hazell
Talk Shop Media
On behalf of Hobo Cannabis Company
604-738-2220
press@hobo.ca

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Agritek Holdings, Inc. Named Number One Short Term Cannabis Stock on Top 25 List by CANNAINVESTOR Magazine for Week of February 17th 2020

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LOS ANGELES, CA, Feb. 18, 2020 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — Agritek Holdings, Inc. (AGTKwww.AgritekHoldings.com, a fully integrated, active real estate investor and white label provide for popular hemp brands, today announced that the Company was named the number one from a list of 25 undervalued cannabis companies as the top short term investment by CANNAINVESTOR Magazine this week.

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Christina Lake Cannabis Conducts Management Changes

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VANCOUVER, British Columbia, Feb. 17, 2020 (GLOBE NEWSWIRE) — Christina Lake Cannabis Corp. (the “Company” or  “CLC” or “Christina Lake Cannabis”) announces today that Mr. Benjamin Asuncion has resigned as a director and Mr. Arie Prins has stepped down as President, Chief Executive Officer (“CEO”) and a director of the Company effective immediately. The board of directors has appointed Mr. Joel Dumaresq, Director and Chief Financial Officer as the Company’s interim-CEO to replace Mr. Prins.
Mr. Dumaresq has been active in Christina Lake Cannabis since the outset and will manage the Company through its planned public listing, pending Health Canada licensing, and planned cultivation and processing phases.Over the past 15 months, Mr. Prins oversaw the acquisition, buildout and construction of CLC’s 131-acre outdoor grow facility as well as the recent submission to Health Canada of the Company’s final evidence package in conjunction with its application for a Standard Cultivation License. Christina Lake Cannabis is also pleased to announce that Nicco Dehaan, a sizable investor in, and director of the Company since its founding, has agreed to assume the role of Chief Operating Officer of CLC.  Mr. Dehaan is highly experienced in the industry having held for over seven years a license for the growing of medical Cannabis.  Nicco will be responsible for overseeing all of CLC’s cultivation and processing operations along with expansion on the Company’s ‘131-acre owned-property’ and over ‘200 acre optioned-property’, once the necessary licenses have been secured.The Company further announces the immediate formation of an advisory committee to provide management with input and advice as the Company nears production.  Christina Lake Cannabis is pleased to welcome Mr. Gil Playford and Mr. Mervin Boychuk to the Advisory Committee. Mr. Asuncion will remain involved with Christina Lake Cannabis as an advisor to the Company, and has chosen to vacate his Board position in order to make room on the Board for individuals with direct operational experience.Gil Playford, presently one of Christina Lake Cannabis’ largest shareholders with over a 10% ownership, is a seasoned senior mining executive and founder of LionOre Mining International, with nickel and gold assets in Africa and Australia. In 2007, Mr. Playford spearheaded the sale of LionOre Mining to Norislk Nickel for C$6.8 billion in cash.  Mr. Playford started his professional career with Union Carbide Corp. for 25 years and various senior executive positions including Managing Director in Switzerland, Belgium and Germany.  Mr. Playford also was the Chairman and CEO of Union Carbide Canada and Chief Financial Officer of Union Carbide in New York.  He became Chairman and CEO of UCAR Carbon, a joint venture with Mitsubishi and took the partnership public as GrafTech International.  Mr. Playford is presently Chairman and CEO of Bearing Lithium Corp. (BRZ-TSXV), a mineral and exploration development company listed on the Toronto Venture Stock Exchange (TSXV). Gil holds an Engineering Degree from McGill University in Montreal and a Master’s in Business Administration from York University in Toronto.Mervin Boychuk is a serial entrepreneur having founded, built, and sold four private businesses over his 35-year career. Mr. Boychuk joined South Rock Ltd, a private road construction company, in 1978 and subsequently became President & CEO in 1980. Under his guidance, the company grew from 20 employees to over 350, with annual revenues in excess of C$180 million, before subsequently selling to Aecon Group Inc. in 2009. During his tenure at South Rock, Merv co-founded RecycleWest, a waste oil collection and supply company, which was later sold to Newalta in 1995. In 1996, Merv co-founded EnviroWest which serviced the BC, Alberta, and Saskatchewan vacuum truck sludge and waste oil collection markets. EnviroWest was sold to GFL Environmental in 2010, a large waste management company which employs over 8,850 people. Merv is a significant shareholder in Christina Lake Cannabis and continues to be active in the family-owned waste treatment business in Calgary and Edmonton. Commented Joel Dumaresq, “I would like to personally thank Arie for his leadership during the construction of what we believe is Canada’s premier outdoor grow facility.  As we await Health Canada approval of our cultivation application, and further as we prepare for our public listing, our operational capabilities have been greatly enhanced with the addition of Nicco, along with Gil and Merv, two highly-accomplished private entrepreneurs and operators.”About Christina Lake Cannabis Corp.Christina Lake Cannabis Corp is a late-stage applicant under the Cannabis Act, having submitted its Statement of Readiness and Evidence Package for a Standard Cultivation License, in addition to a Research and Development License. CLC’s facility is comprised of a 32-acre property, which includes over 870,000 square feet of outdoor grow space, offices, propagation and drying rooms.  CLC plans to cultivate cannabis using strains specifically developed for outdoor cultivation and it is planning to produce up to 17,700 kg from its 32-acre facility before developing it’s adjoining 99-acre expansion property, which will bring it’s cultivation footprint to over 4.35 million square feet or over 88,000 kg of low-cost, high-quality, sun-grown cannabis annually.For more information about CLC, please visit: www.clcannabis.comNote Regarding Forward-Looking Information and StatementsForward-Looking Information: This news release includes certain statements that may be deemed “forward-looking statements”. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “would”, “project”, “should”, “believe” and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this News Release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company’s disclosure documents which can be found under the Company’s profile on www.sedar.comOn behalf of:Joel Dumaresq
Joel Dumaresq
CEO and Director

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