Halo Announces Share Consolidation

TORONTO, June 20, 2022 /CNW/ – Halo Collective Inc. (“Halo”Oder the “Company”) (NEO: HALO) (OTCQB: HCANF) (Germany: A9KN) today announces its intention to consolidate all of its issued and outstanding common shares (“Common Shares”) on the basis of one post-consolidation Common Share for every 20 pre-consolidation Common Shares (the “Consolidation”). The Consolidation was already approved by shareholders at the Company’s annual general meeting and special meeting held in April. June 16, 2022.

www.haloco.com (CNW Group/Halo Collective Inc.

The Consolidation is expected reduce the number of common shares outstanding and issued from 197,419 111 Common Shares before the Consolidation to around 9,870,955 Common Shares after the Consolidation. The Consolidation will also result in the conversion or exercise price of warrants, convertible debentures, compensation options and other options being reduced and the number of Common Shares that can be issued thereunder being proportionately adjusted. The Consolidation will not result any fractional shares. All fractions in Common Shares will be rounded to the next lowest whole number. Fractional shares will not be subject to cash consideration.

All regulatory approvals required, including approval from Neo Exchange Inc., must be received before the Consolidation can take place. The Company will be applying for a new set CUSIP/ISIN number to consolidate. The Consolidation will take effect on the effective date. The new CUSIP/ISIN numbers will take effect on the expected date. June 22, 2022. The Company expects that its current trading symbol won’t change.

About Halo Collective Inc.

Halo is a multinational incubation company that has assets and operations in both the THC and non THC sectors. Halo is located on the West Coast of California for the THC sector. The United Stateswhere it has vertically integrated businesses that span the entire value-chain, from seed to sale. Halo grows, extracts and manufactures high-quality cannabis flower, prerolls, vape cartridges, edibles and concentrates. Halo sells these products under a portfolio of brands including Hush™, Winberry Farms™, Williams Wonder Farms, its retail brand Budega™, and under license agreements with Papa’s Herb®, DNA Genetics, and FlowerShop*. Halo opened a dispensary. Los Angeles under the Budega™ brand in North HollywoodPlans to open two more in Hollywood, WestwoodIn the second quarter of 2022. Halo also has three Kushbar retail marijuana stores, located in Canada, Alberta.

The story continues

Halo is expanding its non-THC business into the health and wellness sector. This includes CBD and functional supplements like non-psychotropic mushrooms and nootropic nutraceuticals. Halo, through a series of acquisitions, has product offerings in the form of beverages (H2C Beverages), dissolvable strips (Dissolve Medical), capsules (Hushrooms™), and topical supplements (Hatshe) with proposed national distribution via a strategic agreement with SWAY Energy Corporation. Halo has signed a letter of intent for the acquisition of Phytocann Holdings. Europe’sLeading wellness CBD consumer packaged products companies with a portfolio including Ivory and Harvest Laboratoires, Easy Weed and Kanolia.

Halo was an incubator and has successfully acquired and merged a variety companies. These companies were reorganized to form Akanda Corp. (NASDAQ AKAN), an international company that sells medical cannabis and wellness products. Halo currently owns 44% of the common shares. Halo also acquired software development assets such as CannPOS, Cannalift and CannaFeels. Also, Accudab, a discrete sublingual dosing system, was acquired by Halo. Halo plans to reorganize the entities (including their patent applications) into a subsidiary called Halo Tek Inc.. At a time to be determined, Halo Tek Inc. will distribute shares to shareholders on record.

See Halo’s disclosure document on SEDAR for more information. www.sedar.com

Connect with Halo Collective by email| Website LinkedInTwitter | Instagram

Contact us for more information Marshall MinorContact [email protected], Interim Chief Finance Officer of the Company at (541) 646-75694

Cautionary Note regarding Forward-Looking Statements and Information

Certain information is contained in this press release “forward-looking information”Within the meaning of applicable Canadian securities legislation. It may also contain statements that could constitute “forward-looking statements”Within the meaning of the Safe Harbor provisions of the United States Private Securities Litigation Reform Act 1995. These forward-looking information or forward-looking statements do not reflect historical facts, information, or current conditions. Instead, they represent Halo’s beliefs about future events, plans, or objectives. Many of these are inherently uncertain and beyond Halo’s control. You can identify forward-looking information and statements by using forward-looking terminology like “plans”, “expects”Or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”Or “does not anticipate”Or “believes”Or variations of these words and phrases may contain statements that specific actions, events, or results are being taken “may”, “could”, “would”, “might”Or “will be taken”, “will continue”, “will occur”Or “will be achieved”. Forward-looking information can relate to expected events or results, including the completion of Consolidation, the expected date when post-Consolidation Common Shares will begin trading, management’s plans regarding its portfolio cannabis businesses and intent to expand into wellness, the proposed distribution deal with SWAY Energy Corporation and the proposed acquisition PhytoCann. Californiadispensaries, and the proposed spin-off of Halo Tek Inc.

Halo is identifying these statements in this way to alert the reader to the fact that such information, statements, and statements are subjected to known and unknown uncertainties, risks, and other factors that can cause the actual results of such statements to be materially different to those implied or expressed by such statements. Halo also makes certain assumptions regarding forward-looking statements and forward-looking information in this press release. While Halo believes the assumptions and factors used to prepare the forward-looking statements and information are reasonable, undue dependence should not be placed upon such statements and information. Furthermore, no assurance or guarantee can given that such statements and forward-looking statements will prove accurate. Actual results and future events may differ materially from those projected in such statements and information. The following are key factors that could cause actual outcomes to differ materially to those projected in forward-looking statements and information: delays in obtaining any regulatory approvals in connection to the Consolidation, inability to successfully integrate operations of acquired businesses, changes within the consumer market for marijuana products, changes regarding the expected outcomes of the proposed Halo’s operations changes, delays in obtaining the required licenses or permissions necessary for Halo’s build-out. OregonCanadian operations, dispensaries and operations, the proposed spinout with Halo Tek Inc. delays or unforeseen cost incurred in connection construction, the ability to scale operations in by competitors Northern Californiaunforeseen or unexpected difficulties, delays, or inaccuracies in connection with the cultivation, harvest, and storage of Halo’s raw materials; changes in general economic and business conditions, including changes to the financial markets; and other risks disclosed in Company’s annual information sheet dated March 31, 2022 and other disclosure documents  available on the Company’s profile at www.sedar.com. Actual results could differ materially from what is anticipated, planned, anticipated or believed to be expected.

Forward-looking information and statements contained in this press statement are made as of the date this press release was issued. Halo does not assume any obligation to update any forward looking information or forward-looking quotes contained or referenced in this press release except as required by applicable securities laws. This notice expressly qualifies all forward-looking statements and information that Halo or its agents have made.

SOURCE Halo Collective Inc.



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