SEATTLE, WA, Oct. 02, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- CFN Media Group (“CFN Media”), the leading agency and financial media network dedicated to the North American cannabis industry, announces publication of an article discussing Oregon-based cannabis extraction expert, Halo Labs. The Company is actively preparing to go public on the NEO exchange in Canada under the ticker symbol “HALO”. The commencement of trading is scheduled to take place tomorrow on Wednesday October 3rd, 2018 and it could potentially be the start of a significant increase in Halo’s value. The company last financed privately at <1x 2019E revenues of US$50-60MM while most US public peers are trading at 4-5x 2019E revenues. Halo is currently expanding into the burgeoning market of California expected to be online this month while laying the groundwork for entry into other international markets.
Kiran Sidhu, CEO and Director of Halo says, "We are thrilled to see Halo evolve and graduate to a publicly-listed company so that new and existing investors can capitalize on opportunities that lay ahead. Halo demonstrates how the cannabis industry is maturing and evolving, with trends pointing to an increase of demand for cannabis concentrates (oils and extracts) and decline of demand for smokeable flower. With increasing cannabis extract alternatives such as sublingual oils, topical creams and functional beverages, Halo prepares for aggressive growth strategies in the explosive cannabis extracts industry. The company utilizes the full range of extraction technologies to create extracts and concentrates for a variety of specific product categories including: shatter, dabs, cartridges to oils for edibles, THC-A and CBD crystals.”
Halo plans to maintain strong position and move forward in its quest to become a leader in US Cannabis extraction, developing and manufacturing leading oil and concentrates.
ABOUT HALO
Halo Labs started in Oregon in April 2016, a few months after adult use of cannabis became effectively legal in the United States.
Currently the company ships over 100,000 grams of cannabis concentrate each month and has captured more than 20% of the wholesale concentrates market in the state. Revenues from Oregon have translated into $10.3 million in NET revenue for the year 2017, a number which is certainly an outlier in the nascent legal markets.
Halo also has its own product offering which accounts for approximately 65% of revenue. The balance of revenue comes from product manufactured for other companies on a White Label basis.
Halo anticipates the White Label offering of the business to grow quickly and anticipates as much as 50% of revenues from the division in the next year or so.
What’s more, the company opened a processing facility near the Las Vegas airport, complete with supply agreements and a binding LOI to acquire production and cultivation licenses.
Halo has strategically partnered with a leading Canadian producer to establish a manufacturing facility on site. This potentially may serve as a platform for global initiatives should the companies take advantage of Canada’s ability to import and export cannabis products.
In California, Halo’s facility in Cathedral City is nearing its projected October launch as it awaits final state permits. Together, the two new operations have the potential to generate upwards of $130 million in annual revenue, assuming full production capacity and current market prices.
ABOUT HALO’S MANAGEMENT TEAM
Kiran Sidhu founded Transact Network and sold it to Bancorp in 2011, led the IPO of On-Stage Entertainment, and came out of a background in consulting with PwC and mergers and acquisitions with Merrill Lynch Capital Markets. Sidhu is the Audit Committee Chair for Namaste, Canada’s first licensed producer to receive a sales license. Public company, capital markets, and cannabis industry all provide the background for the captain of Halo’s ship.
Chief Marketing Officer Andreas Met combines Walmart marketing experience with sales and marketing of cannabis extracts for Golden Leaf. The CFO, Philip van den Berg, was the CFO for Namaste as well as for Golden Leaf, leading that company’s $20 million+ Canadian reverse takeover transaction. Sales executives with Halo come out of consumer-packaged goods giants like PepsiCo, Johnson & Johnson, and Anheuser-Busch InBev. The company’s chairman, G. Scott Patterson, is the former chair of the Venture stock exchange and the former vice chair of the Toronto Stock Exchange.
Please follow the link to read the full article: http://www.cannabisfn.com/halo-labs-experienced-manufacturers-cannabis-oils-concentrates-prepares-go-public/
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The above article is sponsored content. Emerging Growth LLC, which owns CannabisFN.com and CFN Media, has been hired to create awareness. Please follow the link below to view our full disclosure outlining our compensation: http://www.cannabisfn.com/legal-disclaimer/
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The above article is sponsored content. Emerging Growth LLC, which owns CannabisFN.com and CFN Media, has been hired to create awareness. Please follow the link below to view our full disclosure outlining our compensation: http://www.cannabisfn.com/legal-disclaimer/