All Figures in USD
Not for Distribution to U.S. Newswire Servicers or For Dissemination in the United States
Halo Labs Inc. ("Halo" or the "Company") (NEO: HALO, OTCQX: AGEEF, Germany: A9KN) is pleased to announce that the Company has entered into an exclusive strategic partnership with Terphogz™, LLC ("Zkittlez™") to develop and commercialize new and unique cannabis genetics in Oregon.
Background & Partnership Highlights
- Terphogz, LLC is a renowned cannabis breeding group responsible for the famous Zkittlez™ variety of cannabis strains.
- Zkittlez™ products typically command a 20% or greater pricing premium to similar products in the market. Zkittlez™ brand value and recognition for creating top tier genetics places the brand’s products on shelves alongside industry leaders such as Cookies and Connected.
- Zkittlez™ has over 200,000 followers on social media.
- Zkittlez™ and its genetic crosses are some of the most sought after and desired strains in the cannabis industry, and have won many awards including 1st place at competitions such as The Emerald Cup.
- The 5-year exclusive partnership for the state of Oregon will further strengthen Halo’s genetic database and product offerings. This partnership with a leading industry brand aligns with Halo’s previously announced partnership with OG DNA Genetics in East Evans Creek, Oregon.
- Halo has planted 20 strains provided by Zkittlez™ at the Company’s East Evans Creek farm which are expected to be harvested and available for sale in November 2020. The Company intends to distribute Zkittlez™ branded flower, pre-rolls and concentrates from the material grown at the Company’s East Evans Creek farm.
Terphogz, LLC owns a genetic library that is well-known for creating the famous Zkittlez™ cannabis variety. Zkittlez™ has a unique and distinct terpene profile unlike other genetics in the market, making it distinguishable from other strains. Halo has secured a 5-year exclusive partnership with Zkittlez™ in Oregon to cultivate the group’s strains and provide this beloved brand to the Oregon marketplace and consumers for the first time.
Halo will license and have exclusive rights to a large repertoire of genetic strains, most notably Zkittlez™, Zmoothi™ and Z3 Kush™. Focusing on the whole plant, Zkittlez™ has proven that THC alone can’t compete with robust and unique terpene profiles. Highly awarded and recognized, the strains will allow Halo develop more brand and retail focused products aligning with the Company’s long term growth strategy. With over 200,000 followers on social media and a history of excellence in cannabis genetics, Zkittlez™ provides extensive value to Halo’s already strong portfolio of cannabis consumer-centric partnerships.
"We are extremely excited to join forces with Halo. With our award-winning genetics and Halo's cultivation firepower, our collaboration will be a force to be reckoned with in Oregon. Stay tuned, we can't wait to get to work!" comments Green R. Fieldz, CEO of Terphogz, LLC.
Kiran Sidhu CEO and Co-Founder of Halo commented, "We are pleased to be partnering with Terphogz, LLC in Oregon to build a new branded product line of flower, pre-rolls and concentrates. Aligning with a beloved and Emerald Cup award winning brand such as Zkittlez™ to cultivate existing and develop new cannabis strains demonstrates Halo’s commitment to offering cannabis consumers access to some of the best genetics. We expect to do more projects with the Terphogz, LLC team and expand the partnership into additional markets."
Halo is a leading cannabis cultivation, manufacturing, and distribution company that grows and extracts and processes quality cannabis flower, oils, and concentrates and has sold over 5 million grams of oils and concentrates since inception. Additionally, Halo has continued to evolve its business through delivering value with its products and now via verticalization in key markets in the United States and Africa with planned expansion into European and Canadian markets. With a consumer-centric focus, Halo markets innovative, branded, and private label products across multiple product categories.
Recently, the Company entered into binding agreements to acquire a dispensary in Los Angeles, 3 KushBar branded dispensaries, 5 development permits in Alberta Canada, and Canmart Limited which holds wholesale distribution and special licenses allowing the import and distribution of cannabis based products for medicinal use (CBPM’s) in the United Kingdom. Halo is led by a strong, diverse management team with deep industry knowledge and blue-chip experience. The Company is currently operating in the United States in California, Oregon, and Nevada while having an international presence in Lesotho within a planned 200-hectare cultivation zone via Bophelo Bioscience & Wellness (Pty) Ltd. as well as planned importation and distribution in the United Kingdom via Canmart.
For further information regarding Halo, see Halo’s disclosure documents on SEDAR at www.sedar.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 in respect of the Company’s license arrangement with Terphogz, LLC and the cultivation, sale and distribution of Zkittlez™ branded and other products by the Company.
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 and other operation; 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; 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 April 16, 2020 and 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 the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein as intended, 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 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.