Halo Announces an Agreement to Acquire Accu-Dab Technology and a Concurrent Private Placement
Halo Labs Inc. (“Halo” or the “Company”) (NEO:HALO, OTCQX:AGEEF, Germany:A9KN) is pleased to announce that it has entered into a definitive agreement (the “Agreement”) to acquire all of the common shares of Precisa Medical Instruments Corp. (“Precisa”) for C$3,750,000 in Halo common shares at a price of C$0.28 per share (“the Acquisition”).
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191222005030/en/
(Photo: Business Wire)
Acquisition and Private Placement Highlights
- The Accu-Dab is a convenient, precise technology to provide on the go dosing of THC or CBD products sublingually for high impact absorption
- The Accu-Dab is a valid option for consumers in search of a non-vaporization mechanism to consume cannabis
- The promising technology will be developed and commercialized by Halo
- Halo will acquire Precisa in addition to concurrently placing C$1,200,000 to fund the development of Accu-Dab and continue business expansion
Precisa owns the intellectual property related to and is focused on the development of the Accu-Dab THC and CBD oil dabbing device. The Accu-Dab takes the form of a discrete pen that will allow users to pre-select various doses of measured THC or CBD from 0.01 mL to 0.60 mL for sublingual consumption. Through its convenient dial selection mechanism, the Accu-Dab allows for precise dispensation of THC or CBD product accurately and repeatedly to meet the consumer’s specific dosing needs.
Sublingual consumption of THC and CBD can be compared to inhalation in terms of bioavailability because, as in the case of absorption in the lungs, absorption from the mucous membrane under the tongue allows for the THC and CBD molecules to enter the bloodstream relatively fast and in an unmetabolized form. Studies performed by GW Pharmaceuticals showed that concentrations of THC and CBD in the blood plasma following sublingual consumption were comparable to inhalation and can also considered more consumer friendly as it removes unwanted side effects such as coughing that accompanies inhalation.
“Halo continues to provide the latest product and device technology for its customers, obtaining the latest developments in the cannabis space,” stated Kiran Sidhu, CEO and Co-Founder of Halo. “Halo, as a market exclusive licensee, introduced DabTabs brand doseables to allow cannabis connoisseurs enjoyment of full spectrum concentrates in a revolutionary format. Now we are developing the Accu-Dab to allow more generalized consumption through sublingual application of CBD and THC for those who are averse to vaporizing and want a discrete and accurate consumption method.”