What's Going On With Halo Collective?
Halo Collective (HCANF) today announced the closing of its acquisition of Food Concepts LLC, the master tenant of an approximately 55,000 square foot indoor cannabis cultivation, processing, and wholesaling facility in Portland, Oregon. Halo paid Food Concepts LLC $8.2 million in 258,156,500 Halo common shares. Shares of the company were trading lower -3.03% to $0.032 a share on Tuesday.
What Does This Mean For Halo Collective?
The merger agreement now makes Halo's wholly-owned subsidiary ANM the absolute owner of Food Concepts LLC, the master tenant of the Pistil Point facility, and the owner of the operating equipment and related tangible assets which it leases to the operating entities. The consideration payable by Halo for the acquisition of Food Concepts LLC was $8.2 million, payable in 258,156,500 Halo common shares.
Halo presently operates in Oregon, California, Canada and South Africa. The company sells cannabis products to dispensaries in the U.S. under its brands Hush, Mojave, and Exhale, and under license agreements with Papa's Herb®, DNA Genetics, Terphogz, and FlowerShop*. The firm's latest purchase shows its intent on expansion and vertical integration in the U.S.
Halo Collective Inc. operates as a cannabis cultivation, manufacturing, and distribution company that grows, extracts, and processes cannabis flower, oils, and concentrates in the United States.
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Halo Collective Inc is a cannabis extraction company. It is engaged in manufacturing cannabis oil and concentrates and distributing cannabis products for recreational use in the states of Oregon, Nevada and California.
