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Halo Labs Announces the Start of the Superfiltration Program in Cathedral City

Halo” or the “Company“) (NEO: HALO, OTCQX: AGEEF, Germany: A9KN) is pleased to announce that the Company has started a pilot superfiltration program of live resin, fats and waxes, tails, terpenes and low grade distillate at Halo’s Coastal Harvest facility in Cathedral City, California. Halo has specialized expertise in cannabis extraction and follows internal guidelines that are more stringent than the state guidelines for levels of pesticides in cannabis products. Due to these policies in California alone, the Company has segregated approximately one million three hundred and fifty thousand grams of product that was written off as waste product (the “Waste Product”).” data-reactid=”21″>Halo Labs Inc. (“Halo” or the “Company“) (NEO: HALO, OTCQX: AGEEF, Germany: A9KN) is pleased to announce that the Company has started a pilot superfiltration program of live resin, fats and waxes, tails, terpenes and low grade distillate at Halo’s Coastal Harvest facility in Cathedral City, California. Halo has specialized expertise in cannabis extraction and follows internal guidelines that are more stringent than the state guidelines for levels of pesticides in cannabis products. Due to these policies in California alone, the Company has segregated approximately one million three hundred and fifty thousand grams of product that was written off as waste product (the “Waste Product”).

Halo further validated the estimated total cost per gram, including lost material, to be less than $0.75 per gram based on original input weight. In addition to the approximate 1,350,000 grams of Halo’s Waste Product that has been written off and may be in need of remediation, the Company believes that there are tens of millions of dollars of oils and concentrates in California within the Marijuana Enforcement Tracking Reporting Compliance (“METRC”) seed to sale tracking system at manufacturers, distributors and dispensaries that could utilize Halo’s superfiltration technology. The Company anticipates this business to business tolling service represents a potentially large and untapped income stream over the coming months.

Kiran Sidhu, CEO of Halo Labs commented, “When the Company discontinued our operations in California, Halo was left with over 1,350,000 grams of distillate, live resin, fats and waxes that was deemed worthless and was written off.”

He continued, “Utilizing our high caliber VTA machinery from Germany combined with the novel superfiltration process developed by Halo founding scientists and engineering team, we are excited to commercialize this process that essentially allows us to turn this Waste Product to liquid gold distillate, which will help to conserve our cash position and reduce our dependency on third party distillate. Our sales in California to dispensaries continue to grow, which is requiring more and more bulk distillate. Bulk distillate is the principal active ingredient found in vaporizer cartridges, pens and edibles.”

Halo is a leading cannabis cultivation, manufacturing, and distribution company that grows and extracts and processes quality cannabis flower, oils, and concentrates and has sold over 5 million grams of oils and concentrates since inception. Additionally, Halo has continued to evolve its business through delivering value with its products and now via 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 entered into binding agreements to acquire a dispensary in Los Angeles, 3 KushBar branded dispensaries, 5 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 while having an international presence in Lesotho within a planned 205-hectare cultivation zone via Bophelo Bioscience & Wellness (Pty) Ltd. as well as planned importation and distribution in the United Kingdom via Canmart.

www.sedar.com.” data-reactid=”29″>For further information regarding Halo, see Halo’s disclosure documents on SEDAR at www.sedar.com.

1 See Halo Labs press release dated March 27, 2020.

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20200407005859/en/” data-reactid=”40″>View source version on businesswire.com: https://www.businesswire.com/news/home/20200407005859/en/

info@halocanna.com” data-reactid=”42″>Halo Labs
Investor Relations
info@halocanna.com

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