Halo Labs Clarifies Previous Press Release Regarding Share Issued in Lieu of Cash to Employees and Consultants
Halo Labs Inc. (“Halo” or the “Company”) (NEO: HALO, OTCQX: AGEEF, Germany: A9KN) wishes to correct information previously press-released by the Company with respect to common shares issued by the Company in October and November 2019.
On November 14, 2019 the Company issued a press release that specified that the Company had issued an aggregate of 10,440,320 common shares to certain directors, employees and independent contractors of the Company in lieu of cash consideration (“Shares In Lieu of Cash”). The Company issued the Shares in Lieu of Cash in two tranches. The first tranche of 3,997,648 Shares in Lieu of Cash was issued on October 15, 2019 at a price of C$0.30 per share and in satisfaction of C$1,199,295 of payables owed by the Company. The press release stated that an aggregate of 3,832,167 of the Shares in Lieu of Cash issued in the first tranche were subject to a hold period of four months plus one day from the date of issuance. The second tranche of 6,442,672 Shares in Lieu of Cash was issued on November 13, 2019 at a price of C$0.26 per share and in satisfaction of C$1,675,096 of payables owed by the Company. The press release stated that an aggregate of 6,333,088 of the Shares in Lieu of Cash issued in the second tranche were subject to a hold period of four months plus one day from the date of issuance. But in fact the recipients of 3,832,167 Shares in Lieu of Cash in the first tranche and 6,333,088 Shares in Lieu of Cash issued in the second tranche were not subject to a hold period of four-months plus one day.
Halo is a global cannabis extraction company that develops and manufactures quality cannabis oils and concentrates, which are the fastest growing segments in the cannabis industry. Halo is a global leader in cannabis oil and concentrates, having produced over 4.5 million grams of oils and concentrates since inception. The Company has expertise across all major cannabis manufacturing processes, leveraging a variety of proprietary processes and products. The forward-thinking company is led by a strong management team with deep industry knowledge and blue-chip experience. The Company is currently operating in California and Oregon, as well as in Nevada with our partner Just Quality, LLC, and in Lesotho with the 205-hectare Bophelo cultivation zone.