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Halo Collective Completes Acquisition Of Premium Indoor Grow And Distribution Hub In Portland, Oregon

Sep 22, 2022about 3 years ago

Acquiring Company

Halo Collective

Acquired Company

Distribution

CannabisHealth Care

Description

Halo Collective Inc. ("Halo" or the "Company") (NEO: HALO) ( OTCQX: HCANF) (Germany: A9KN) today announced, further to its press release dated August 27, 2021, that it has completed the acquisition of all of the substantial assets of three operating entities doing business as Pistil Point in Oregon which collectively hold multiple cannabis licenses. With this transaction, Halo now has full ownership of a range of indoor and outdoor cultivation, manufacturing, and distributions assets, along with an expanded library of genetics that is expected to allow the Company to continue to execute its vertically integrated strategy in Oregon with enhanced competitiveness and economics as it penetrates additional retail dispensaries in the state.

Company Information

Company

Halo Collective

About

Halo is focused on the United States West Coast, where it has vertically integrated operations covering the entire value chain from seed to sale. Halo cultivates, extracts, manufactures, and distributes quality cannabis flower, pre-rolls, vape carts, edibles, and concentrates. Halo sells these products under a portfolio of brands, including HushTM, Winberry FarmsTM, its retail brand BudegaTM, and license agreements with Papa's Herb®, DNA Genetics, and FlowerShop*. In addition, Halo has opened two dispensaries in Los Angeles under the BudegaTM brand in North Hollywood and Hollywood, with plans to open one more in Hollywood in 2022. 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, has product offerings in the form of beverages (H2C Beverages), dissolvable strips (Dissolve Medical), capsules (HushroomsTM), and topical supplements (Hatshe) with proposed national distribution via a strategic agreement with SWAY Energy Corporation. Halo has successfully acquired and integrated a variety of companies which were subsequently reorganized to create Akanda Corp. (NASDAQ: AKAN), an international medical cannabis and wellness company, of which Halo is the largest shareholder. Halo has also acquired a range of software development assets, including CannPOS, Cannalift, CannaFeels, and a discrete 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 complete the distribution of the shares of Halo Tek Inc. to shareholders on record at a date to be determined. For further information regarding Halo, see Halo's disclosure documents on SEDAR at www.sedar.com. Connect with Halo Collective: Website| LinkedIn | Twitter | Instagram

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed