HALO COLLECTIVE INC. /NOT FOR DISTRIBUTION TO
The Prime Minister has declared the Mafeteng area as the first
Halo and Bophelo have made great strides in developing the local labor force and infrastructure, becoming one of the larger employers in
Andreas Met, Managing Director of Bophelo and Co-Founder of Halo, says, "It was a great honor to show our accomplishments—and specially to introduce our young Basotho leadership team, including Moeti Marai and Puleng Mabula. It's incredible to be working hand-in-hand with a national government that shares our mission and fully supports the cultivation of medicinal cannabis as a key industry, understanding the huge positive impact cannabis can make in peoples' lives as both a medicine and an economic driver wealth creation for the people of
Halo and Bophelo are expected to receive both Good Manufactures Practices ("GMP") and Good Agricultural and Collection Practices ("GACP") certifications from the quality growing and manufacturing consultant,
In addition,
Sidhu continues: "We are thrilled to be a part of
Establishment of
Bophelo is the first cannabis business globally to be part of a special economic zone that brings significant benefits. SEZ is an area where the business and trade laws are different from the rest of the country, located within a country's national borders aiming to increase trade balance, employment, investment, job creation, and effective administration. To encourage businesses to set up in the zone, financial policies are introduced. These policies typically encompass investing, taxation trading, quotas, customs, and labor regulation. Additionally, companies may be offered tax holidays, where upon establishing themselves in a zone, they are granted a period of lower taxation.[i]
About
Halo is a leading, vertically integrated cannabis company that cultivates, extracts, manufactures, and distributes quality cannabis flower, oils, and concentrates and has sold approximately nine million grams of oils and concentrates since inception. Halo continues to evolve its business and scale efficiently, partnering with trustworthy leaders in the industry, who value the Company's operational expertise in bringing top-tier products to market. Current growth includes expansion in key
Halo is led by a strong, diverse, and innovative management team with deep industry knowledge and blue-chip experience. The Company is currently operating in
As part of continued expansion and vertical integration in the
Internationally, the Company's subsidiary Bophelo is currently cultivating medicinal cannabis in Lesotho. Once fully built out, Halo believes Bophelo to be one of the largest licensed marijuana cultivation sites in the world with a future capacity of up to 495 acres. To further Halo's global presence, the Company has recently acquired CBPM importation and distribution licensing in the
The Company also has acquired a range of software development assets, including technology platforms CannPOS, Cannalift, and, more recently, CannaFeels. Halo also owns the discrete sublingual dosing technology, Accudab. The Company intends to spin-off these assets along with its intellectual property and patent applications into its subsidiary
For further information regarding Halo, see Halo's disclosure documents on SEDAR at www.sedar.com
Connect with
About
Bophelo is based in the Kingdom of
For more information about Bophelo, please visit www.bophelo-bioscience.com
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 are not limited to, statements about the Prime Minister's visit, establishment of
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, facilities and other operations; 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; delays or unforeseen difficulties in connection with the cultivation and harvest of raw material; 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
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.
[i] See https://en.wikipedia.org/wiki/Special_economic_zone
SOURCE
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