Halo Applauds Historic Congressional Vote on Federal Legalization of Marijuana Southern Oregon Base an Ideal National Launch Pad
Halo Labs Inc. ("Halo" or the "Company") (NEO: HALO, OTCQX: AGEEF, Germany: A9KN) applauds the House Judiciary Committee which passed the Marijuana Opportunity, Reinvestment and Expungement (MORE) Act in a 24-10 vote on Wednesday, November 20, 2019 which removes marijuana from Schedule 1 of the Controlled Substances Act and would de facto end prohibition in the US. For federal legalization to occur the MORE act will need to pass a House-wide vote as well as a vote in the Senate and then be signed into law by the President.
“This is a historic day in the United States as the House Judiciary Committee has approved an end to Federal marijuana prohibition,” commented Kiran Sidhu CEO of Halo Labs. He continued, “We are well positioned as dominoes continue to fall in the right direction to grow nationally and bring legal marijuana to all 50 states.”
Since its founding, Halo foresaw eventual Federal legalization and built the business with the express purpose to scale nationally. Indeed, the Company is one of the largest licensed cannabis manufacturers at its Medford facility and cultivators with the largest licensed single site grow in Southern Oregon, at its six-acre East Evans Creek Farm.
Located in the Emerald Triangle - where labor costs, rent costs, and tax burdens are low - Southern Oregon is one of the most optimal, low-cost regions in the world for growing and manufacturing cannabis.
Emphasizing this point, Halo recently produced a record harvest at East Evans Creek of 6,800kg (15,000 lbs.) of dry marijuana product. Further, the company believes it can achieve even greater annual yields of 8,170kg (18,000 lbs.) in future growing seasons at the six-acre farm as Company continues to refine and improve its cannabis strains.
Andreas Met the COO stated, “What coffee has been to Colombia and wheat to the Great Plains states, cannabis is to Southern Oregon, the northern tip of the Emerald Triangle. The hot, dry summers combined with cold rainy winters, latitude, elevation, and UVB light, make the climate very special for cannabis. When we started the company in 2015, we handpicked this region, built a facility capable of running 24-7 and then integrated cultivation with the goal to be able to supply cannabis flower, oils and concentrates nationwide.”