Elegance Brands Enters Strategic Partnership and Licensing Arrangement with Halo Collective to Launch THC Beverage Portfolio
June 07, 2021 at 04:20 pm EDT
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Halo Collective Inc. announced that it has entered into a strategic partnership and licensing arrangement with Elegance Brands, Inc. to expand its product-offering dispensaries to include THC-infused beverage products. As part of the Transaction, Elegance will exclusively license the intellectual property rights for its THC brands and provide support to Halo on operations and manufacturing technology for the manufacture and sale of certain THC-infused beverage products in exchange for a [2]% royalty on all sales generated from these brands (the "Licensing Agreement"). In addition to the Licensing Agreement, Halo will acquire manufacturing equipment custom-built for THC beverage production and acquire a minority interest in Elegance. The Licensing Agreement allows Halo to exclusively license Elegance's THC-infused beverage product portfolio, including Arvo, Zen, Life Brew, High Life THC Cocktails, Island THC & Coconut Water, Stoney Island THC Cold Brew Coffee, 420 Friendly THC Lemonades, and California THC Bitters. The first product expected to launch under the partnership is Zen THC Social Tonics in a range of four innovative flavors: Raspberry Hibiscus, Ginger Lime, Mango Habanero, and Citrus Lavender. They are expected to enter distribution by Q4, 2021 in California and Q1, 2022 in Oregon.
Halo Collective Inc. is a Canada-based vertically integrated cannabis company. The Company is engaged in cultivating, extracting, manufacturing, and distribution of quality cannabis flower, pre-rolls, vape carts, edibles, and concentrates. It offers products under a portfolio of brands, including Hush, Winberry Farms and Exhale, as well as under its retail brand Budega. It also sells its products under license agreement with Papa's Herb, DNA Genetics, and FlowerShop. It owns approximately 55,000 square feet indoor cannabis cultivation, processing, and wholesaling facility in Portland, Oregon. It is also focused on health and wellness categories, including cannabidiol (CBD) and functional supplements such as nootropic nutraceuticals and non-psychotropic mushrooms. It has product offerings in the form of beverages (H2C Beverages), dissolvable strips, capsules (Hushrooms), and topical supplements (Hatshe). It operates in the United States, Canada, Southern Africa and the United Kingdom.