Halo Announces Share Split
TORONTO, June 20, 2022 /CNW/ – Halo Collective Inc. (“Halo” or the “Company”) (NEO: HALO) (OTCQB: HCANF) (Germany: A9KN) today announces its intention to consolidate all of its issued and outstanding common stock ( “ordinary shares”) on the basis of one post-consolidation ordinary share for 20 pre-consolidation ordinary shares (the “consolidation”). The Combination was previously approved by the shareholders of the Company at the annual general meeting and extraordinary held on June 16, 2022.
The Consolidation is expected to result in a reduction in the number of Common Shares issued and outstanding from 197,419,111 Common Shares pre-Consolidation to approximately 9,870,955 Common Shares post-Consolidation. The exercise or conversion price of warrants, convertible debentures, compensation options and options, as well as the number of common shares issuable thereunder, will also be adjusted in proportion to the realization of the grouping. No fractional shares will be issued following the Consolidation. All fractional Common Shares will be rounded down to the nearest whole number. No cash consideration will be paid for fractional shares.
The Consolidation is subject to the receipt of all required regulatory approvals, including the approval of Neo Exchange Inc. The Company will obtain a new set of CUSIP and ISIN numbers for the Consolidation. The effective date of the consolidation and the new CUSIP and ISIN numbers should be June 22, 2022. The Company anticipates that its current ticker symbol will remain unchanged.
About Halo Collective Inc.
Halo is a multinational incubator with assets and operations focused on the THC and non-THC sectors. For the THC sector, Halo focuses on the west coast of United States where it has vertically integrated operations spanning the entire value chain from seed to sale. Halo cultivates, extracts, manufactures and distributes quality cannabis flowers, pre-rolls, vape carts, edibles and concentrates. Halo sells these products under a portfolio of brands such as Hush™, Winberry Farms™, Williams Wonder Farms, its Budega™ retail brand, and through licensing agreements with Papa’s Herb®, DNA Genetics and FlowerShop*. Halo opened a dispensary in Los Angeles under the Budega™ brand in North Hollywood and plans to open two more in Hollywoodand Westwood in the second quarter of 2022. Halo also operates three Kushbar cannabis retail stores located in Alberta, Canada.
In the non-THC sector, Halo is expanding into health and wellness categories, including CBD and functional supplements such as nootropic nutraceuticals and non-psychotropic mushrooms. Halo, through a series of acquisitions, offers product offerings in beverages (H2C Beverages), dissolvable strips (Dissolve Medical), capsules (Hushrooms™) and topical supplements (Hatshe) with proposed national distribution through a strategic agreement with SWAY Energy Company. Halo has entered into a letter of intent to acquire Phytocann Holdings, one of Europe leading wellness CBD consumer packaged goods companies with a portfolio of value and premium brands, including Ivory, Harvest Laboratories, Easy Weed, Kanolia, Herboristerie Alexandra, Buddies and Ghosty Buds.
As an incubator, Halo successfully acquired and integrated various companies which were later reorganized to create Akanda Corp. (NASDAQ: AKAN), an international medical cannabis and wellness company, of which Halo currently owns approximately 44% of the common stock. Halo has also acquired a range of software development assets, including CannPOS, Cannalift, CannaFeels and discreet sublingual dosing technology, Accudab. Halo intends to reorganize these entities (including their intellectual property and patent applications) into a subsidiary called Halo Tek Inc., and to effect a distribution of Halo Tek Inc. stock to registered shareholders, on a date to be determined.
For more information regarding Halo, see Halo’s disclosure documents on SEDAR at www.sedar.com
For more information, please contact Minor Marshalthe company’s interim chief financial officer at (541) 646-5694 or [email protected]
Caution Regarding Forward-Looking Information and Statements
This press release contains certain “forward-looking information” within the meaning of applicable Canadian securities laws 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 indicative of historical facts or information or of current condition, but represent only Halo’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain. and out 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 “anticipates”, “expects” or “does not expect”, “is expected”, ” budget”, “planned”, “estimates”, “plans”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of these words and expressions or may contain statements that certain actions, events or results “could”, “could”, “would”, “could” or “will be taken”, “will continue”, “will occur” or “will be realized”. Forward-looking information may relate to anticipated events or results, including, but not limited to, the completion of the combination, the expected date on which post-combination common stock is expected to begin trading, management’s plans for its portfolio of businesses of cannabis and the intention to develop in health and well-being, the acc proposed distribution order with SWAY Energy Corporation, the proposed acquisition of PhytoCann, the expected opening date of the California dispensaries and the spin-off proposed by Halo Tek Inc.
By identifying such information and statements in this manner, Halo cautions the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied. understood by this information. and statements. Additionally, 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 assurances or warranties can be made. given that these 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 main factors that could cause actual results to differ materially from those projected in the forward-looking information and statements are the following: delays in obtaining the regulatory approvals required in connection with the consolidation, the inability of management to successfully integrate the operations of the acquired businesses, changes in the consumer market for cannabis products, changes in the expected results of proposed changes to Halo’s operations, delays in obtaining licenses or approvals required for the construction of Oregon Canadian operations, dispensaries or operations, the proposed spin-off with Halo Tek Inc., any unforeseen delays or costs incurred in connection with construction, the ability of competitors to expand operations in Northern California, unforeseen delays or difficulties in cultivating and harvesting Halo Raw Material, changes in general economic, business and political conditions, including changes in financial markets; and other risks disclosed in the Company’s Annual Information Form dated March 31, 2022 and other disclosure documents available on the Company’s profile at www.sedar.com. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying any forward-looking information or statements prove incorrect, actual results may differ materially from those described herein as anticipated, planned, anticipated, believed, estimated or expected.
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 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 are expressly qualified in their entirety by this notice.
SOURCE Halo Collective Inc.
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