“The Hollywood dispensary will be our first superstore, with 4,500 square feet, giving us the capacity for more than 1,000 SKUs,”Comment Kiran SidhuHalo’s Chief Executive Officer. “Both of our Hollywood and Westwood dispensaries are strategically located, promising significant nearby foot traffic and access to locals and tourists alike. In addition, our Hollywood dispensary has ample parking on-site, and after a brief ramp-up period, we expect both dispensaries to contribute meaningfully to our revenue and operating profit contribution by the second half of 2022.”
Budega Hollywood will offer our vast product assortment, including many top-tier California brands such as Jungle Boys, Jeeter, 710 Labs, Alien Labs, Connected Cookies, and Kiva as well as highlight Budega’s line of branded products, which remain the top selling SKU’s at Budega’s North Hollywood location. In addition, the store will also stock Halo’s Hush™ branded cartridges, gummies, and pre-rolls. The store will be open Monday through Sunday. 7 a.m.-10 p.m.Visit www.budega.comFor more information or to place an online order, click here
“When these two locations open, Halo will have three Los Angeles dispensaries, each offering an unrivaled retail shopping experience, enabling us to differentiate ourselves in the marketplace and build brand equity,” Ryan Kunkel, Halo’s Chairman.
CaliforniaThis is the state that has the highest grossing cannabis retail sales. The United StatesLegal retail sales $5.2 billion1 in 2021, 17% more than 2020 CaliforniaIt is expected to gross $7 billionBy 2025.2 CaliforniaIs the largest legal cannabis marketplace in The United StatesIt is less saturated than other mature retail market. In Los Angeles CountyThere are approximately 250 licenses3 to serve a population of 3.9million on 500-square miles4. OregonThe area has 4.3million people and 800 stores on 98.466 square miles5. There are approximately two licenses for every 100,000 people CaliforniaAmong states that allow legal recreational sales, this rate is one of the lowest in the country. This is a comparison OregonEach 100,000 residents has access to 18 retail shops. ColoradoThe ratio is similar to that of and Washington stateRate is greater than triple California’s6.
About Halo Collective
Halo is a multinational incubation company that has assets and operations in both the THC and non THC sectors. Halo is a THC sector company and is based in the West Coast. 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 has opened a dispensary. Los Angeles under the Budega™ brand in North HollywoodThere are plans to open two additional locations. Hollywood, WestwoodIn the second quarter 2022. Halo also owns three Kushbar retail cannabis shops located in Canada, Alberta.
Halo is expanding in the non-THC market by acquiring functional supplements, such as CBD and nootropic nutraceuticals, and other health and wellness categories. Halo, through a series of acquisitions, is developing 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 to Acquire 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 incorporated a variety companies. These companies were subsequently reorganized and created Akanda Corp. (NASDAQ AKAN), an international company that sells medical cannabis and wellness products. Halo currently owns 44%. Halo also purchased a variety of software development assets including CannPOS and Cannalift. CannaFeels is a discrete sublingual-dosing technology called Accudab. Halo intends 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.
Further information about Halo can be found on SEDAR’s disclosure documents. www.sedar.com.
Cautionary Note regarding Forward-Looking Statements and Information
This press release contains certain “forward-looking information”within the meanings of applicable Canadian securities legislation. “forward-looking statements”The safe harbor provisions of the United States Private Securities Litigation Reform Act (1996). 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. These forward-looking statements or information can generally be identified using 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 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 could refer to anticipated events and results, including the anticpated opening Budega dispensaries by the Company. WestwoodAnd HollywoodManagement’s plans for its portfolio of cannabis businesses and the prospects thereof, as well as the expected contribution from the Company’s Californiadispensaries and their expected opening dates, the time and place of the Company’s earnings call, Ukiah Ventures’ expected size and capabilities for the final facility, and Halo’s proposed cultivation facility. Northern CaliforniaHalo Tek Inc.’s proposed spin-off.
Halo is highlighting such information and statements by doing so, 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 information or statements to be materially different to those implied or expressed in them. Halo also makes certain assumptions regarding forward-looking information and forward looking statements in this press release. Although Halo believes that the assumptions, factors and expectations used in the preparation of the forward-looking information, statements and statements are reasonable and reasonable, undue trust should not be placed in such information or statements. Furthermore, no assurance can be given that such forward looking information and statements will prove accurate as actual results and future events may differ materially from those projected in such information 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: inability of management to successfully integrate the operations of acquired businesses, changes in the consumer market for cannabis products, changes in the expected outcomes of the proposed changes to Halo’s operations, delays in obtaining required licenses or approvals necessary for the build-out of the Company’s cannabis operations, dispensaries or Canadian operations, the proposed spin-out with Halo Tek Inc., delays or unforeseen costs incurred in connection with construction, the ability of competitors to scale operations in Northern Californiaunforeseen problems or delays in connection to the cultivation and harvesting of Halo’s raw material; changes in general political, economic, and political conditions including changes in financial markets; and other risks disclosed by the Company’s annual report dated March 31, 2022 and other disclosure documents available on the Company’s profile at www.sedar.com. If any of these risks, uncertainties, or other factors occur, or if assumptions underlying forward-looking information and statements prove to be incorrect, actual results could differ materially, from those described herein.
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 in this press conference, except as required by 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.
Third Party Information
This press release includes data from the market and industry that has been obtained through third-party sources including industry publications. Although the Company believes the industry data is accurate, and that its assumptions and estimates are reasonable, there is no guarantee as to the accuracy and completeness of the data. Third-party sources generally state that the information in the press release was obtained from reliable sources, but there is no guarantee as to the accuracy and completeness of the information. Although the Company believes the data to be reliable, it has not independently verified any data from third-party sources or determined the underlying economic assumptions.
This press release is not intended to be an offer to sell or solicitation of an order to buy any securities. It also does not contain any sale of these securities in any jurisdiction or state in which such offer, solicitation, sale or sale would be illegal before registration or qualification under the securities laws.
SOURCE Halo Collective Inc.