Halo Provides Update to Operations in Lesotho, Africa

Halo Labs Inc. (“Halo” or the “Company”) (NEO: HALO, OTCQX: AGEEF, Germany: A9KN) is pleased to announce an update to ongoing business operations involving the Bophelo Biosciences & Wellness Ltd (“Bophelo”) in Lesotho, Africa.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200129005840/en/

Cannabis Plants at Bophelo Near Cultivation (Photo: Business Wire)

Highlights

• First harvest of 350 plants expected to be completed by end of February, ahead of schedule

• Phase 1 expansion of Bophelo launched:

  • 1.2 hectare build to include 8 hoop houses and 1 Cravo greenhouse

  • Extra capacity will allow growing of multiple strains of medicinal cannabis for export

  • Expected completion by end of Q1

  • Fully operational, the Phase 1 build will house 3 acres of canopy

• Plans to expand Bophelo production infrastructure further in H2

• Progress continues with EU GACP certification for cannabis grown at Bophelo

• Halo anticipates imminent statutory central bank approval in Lesotho and South Africa to close Bophelo transaction

Bophelo Update

Halo Chief Operating Officer, Andreas Met, is currently overseeing the project in Lesotho, Africa. Working closely with Bophelo’s Chairman and Founder Louisa Mojela on site, Met is handling all developments revolving around site infrastructure and horticulture. Nearing maturity, the initial harvest of 350 plants is estimated to start in 10 days and be completed by the end of February.

Bophelo and Halo have also launched the Phase 1 expansion comprising 8 hoop houses and 1 Cravo greenhouse to grow multiple strains of potential medicinal cannabis exports from Lesotho. Halo expects to complete the 1.2 hectare build by the end March and anticipates harvesting half an acre of canopy from it in 2020. At full utilization, Phase 1 houses 3 acres of total canopy or approximately 120,000 square feet. The Company plans to put additional infrastructure into production to expand the canopy by year end.