Halo Labs Provides Oregon Sales Update
Halo Labs Inc. ("Halo" or the "Company") (NEO: HALO, OTCQX: AGEEF, Germany: A9KN) is pleased to announce that retail sales of the Company’s Hush branded products have been growing in the state of Oregon.
According to BDS Analytics, April 2020 cannabis sales in Oregon’s medical and adult-use dispensaries reached $89.5 million, the state’s best month on record since BDS started reporting data. Through the first four months of 2020, Oregon has been growing at a substantially higher rate than either California or Nevada.
Compared to April 2019, April 2020 retail cannabis sales overall grew by 40 percent in Oregon. In this same time period, retail sales of Hush branded concentrates grew 180% year over year. In addition, retail sales of Hush branded edibles also significantly increased, growing at 353% year over year when compared with April 2019. The Hush brand ranks #3 in concentrate category market share and #7 in edible category market share in the state of Oregon for the month of April. The Company believes that these figures provided by BDS Analytics do not include Halo’s Exhale and Mojave branded sales of concentrates as well as the Company’s white label sales of concentrates, edibles, pre-rolls and flower.
Kiran Sidhu, CEO and Co-Founder of Halo stated, “With high unemployment in the United States, I believe consumers are flocking to affordable products. Cannabis sales in Oregon are growing at approximately 30% year over year for the first four months of 2020. Over the same four month period, retail sales of the Hush brand for concentrates and edibles have grown at 157% and 209% respectively year over year.” He continued, “We intend to continue to grow market share in Oregon by expanding Hush branded edible product offerings from medically focused gummies and tinctures to include recreational focused gummies, mints and chocolates in lower doses per piece.”
Halo is a leading cannabis cultivation, manufacturing, and distribution company that grows and extracts and processes quality cannabis flower, oils, and concentrates and has sold over 5 million grams of oils and concentrates since inception. Additionally, Halo has continued to evolve its business through delivering value with its products and now via verticalization in key markets in the United States and Africa with planned expansion into European and Canadian markets. With a consumer-centric focus, Halo markets innovative, branded, and private label products across multiple product categories.