Halo 80 Cent Warrants to Commence Trading on the NEO
Halo Labs Inc. ("Halo" or the "Company") (NEO: HALO, OTCQX: AGEEF, Germany: A9KN) is pleased to announce that the warrants issued in connection with Halo’s private placement which closed on June 29, 2018 and business combination which closed on October 2, 2018 (the “Warrants”) have been approved for listing on the NEO Exchange. The Warrants are expected to commence trading on or about September 11, 2019 under the symbol HLO.WT.A.
“We are pleased that the Warrants have been approved for listing on the NEO Exchange as this will provide additional liquidity for our stakeholders,” said Kiran Sidhu, CEO and Co-Founder.
An aggregate of 87,594,620 Warrants are issued and outstanding. Each Warrant entitles the holder to acquire one common share of the Company at a price of $0.80 per share. The Warrants expire on December 31, 2020. The Warrants have been issued pursuant to a warrant indenture entered into between the Company and Odyssey Trust Company dated June 29, 2018 as supplemented by a supplemental warrant indenture dated September 6, 2019 (the “Warrant Indenture”). A copy of the Warrant Indenture is available on Halo’s profile at www.sedar.com.
Update on Issuance of Additional Common Shares
Further to its press release dated August 12, 2019, Halo also announces that the Company has completed a debt settlement and issued an aggregate of 5,911,222 common shares (the “Debt Settlement Shares”) at a price of C$0.34 per share to retire an aggregate pf C$2,009,816 of indebtedness. The indebtedness was held by arm’s length parties and the issuance did not result in the creation of a new insider or a new control person. The Debt Settlement Shares are subject to a four-month and one day hold period, subject to approvals as may be applicable.
Further to its press release dated August 12, 2019, Halo also announces that the Company has issued an aggregate of 11,863,128 common shares (the “Compensation Shares”) to certain employees and independent contractors of the Company in lieu of cash consideration. The Compensation Shares were issued at an average price of $0.36 per share and in satisfaction of compensation payable in the aggregate amount of C$4,271,614. An aggregate of 796,254 of the Compensation Shares were issued to related parties of the Company.