What is going on with HCANF?
Halo Collective Inc. (HCANF) stock fell today after the cannabis company announced that its subsidiary, ANM Inc., will acquire the William's Wonder Farms cannabis cultivation business in Oregon, including all trademarks, light dep flower, and licenses issued by the Oregon Liquor Control Commission. Shares of HCANF declined 2.46% to $0.0317 as of Monday at 12:10pm.
In addition to a five-year lease on the underlying properties, as well as a right of first refusal to purchase these properties, ANM will acquire three Tier II marijuana production licenses and related operating assets, including vegetative, cloning and other propagation equipment and shipping containers located on leased premises in Grants Pass, Oregon.
What does this mean for Halo Collective, Inc?
Halo Collective's purchase of Wonder Farms will benefit the company in a number of ways, including increasing Halo's genetics library by offering more exotic strains, increasing Halo's total owned and managed cultivated acreage to 11 acres of outdoor cultivation in Oregon, adding a wholesale license on-site to serve as a hub for flower processing, and adding six more greenhouses for more year-round light dep material, increasing yearly flower sales.
The signing of the agreements for William's Wonder Farms will increase Halo's total harvestable cannabis canopies in Oregon to 11 acres for this season - creating one of the larger cultivation companies in the state.
Per unaudited year end results, 2020 sales for William's Wonder products in Oregon were just over $2.4 million.
HCANF has a Short-Term Technical Rank of 14. Find out what this means to you and get the rest of the rankings on HCANF!
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.
