Halo Labs Intends to Appoint Ms. Louisa Mojela as Chairman of the Board Upon Closing of Bophelo Bioscience Acquisition
Halo Labs Inc. ("Halo" or the "Company") (NEO: HALO, OTCQX: AGEEF, Germany: A9KN) is pleased to announce that upon closing of the previously announced acquisition of Bophelo Bioscience & Wellness (Pty) Ltd. ("Bophelo") (the "Transaction"), the Company intends to appoint Ms. Louisa Mojela, currently the Chairman of Bophelo, as Chairman of Halo’s board of directors. Ms. Mojela’s addition will be valuable for the Company as it continues to expand.
Ms. Mojela successfully founded and listed Women Investment Portfolio Holding Limited on the Johannesburg Stock Exchange that has grown to be worth over USD $250M today. She has led capital raises and held directorships at companies such as Sasol Mining (NYSE: SSL), Ixia Coal, South African Airways, Ericsson SA, Adcorp (SJ: ADR), and Sun International (SJ: SUI) amongst others.
Upon appointment, Ms. Mojela is expected to be the first African woman to lead a publicly traded cannabis company. Ms. Mojela commented, "Halo was a natural fit given its strong professional management team, global vision and success in the United States which has established the company as one of the market leaders in the cultivation and extraction of cannabis oils and concentrates."
Ms. Mojela also applauds the platform that the cannabis industry and Halo affords her social development mission, "As an early stage growing industry, cannabis has the potential to provide much-needed jobs and contribute to the economic development of Lesotho, as well as uplift the citizens through the non-profit development trust that I established for underprivileged women and children. Since 2010 the trust has built schools, libraries, and a learning center as well as an agricultural project. Halo shares our values and after the transaction Bophelo will continue to provide 10% of its pretax earnings to the trust for the people of Lesotho."
G. Scott Paterson will remain a valued strategic advisor to the Company as Ms. Mojela transitions into her new role at Halo. Mr. Paterson commented, "It was an honor to serve as Chairman of Halo, but this represents a historical step in our industry as the Company appoints the first African woman to chair a publicly traded cannabis company. I look forward to working with Halo in an advisory position as the Company continues to expand.”
Completion of the Transaction is subject to, among other things, the negotiation and execution of a mutually agreeable definitive acquisition agreement and related documents and the satisfaction or waiver of any conditions precedent to the consummation of the Transaction (including the receipt of any requisite regulatory and third-party approvals).