Central Bank of Lesotho Gives Halo Green Light to Proceed With Acquisition of Bophelo - Seite 2

Louisa Mojela, Founder and Chairman of Bophelo commented further, “I am pleased and excited that finally the acquisition of Bophelo by Halo can be implemented following the approval by the CBL. Furthermore, we are excited to join the Halo family and in doing so apply their unique expertise and track record in the cannabis industry. This acquisition will bring much needed jobs and contribute to the economic development of Lesotho as well as enhance community development of women and children. These positive outcomes are now closer to being achieved as we have a clear path to closing the Transaction and operating at full capacity.”

Completion of the Transaction is subject to the satisfaction or waiver of certain conditions precedent (including the receipt of any requisite regulatory and third-party approvals) and there can be no assurance that the Company will complete the Transaction.

About Halo

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.

Recently, the Company entered into binding agreements to acquire a dispensary in Los Angeles, 3 KushBar branded dispensaries, 5 development permits in Alberta Canada, and Canmart Limited which holds wholesale distribution and special licenses allowing the import and distribution of cannabis based products for medicinal use (CBPM’s) in the United Kingdom. Halo is led by a strong, diverse management team with deep industry knowledge and blue-chip experience. The Company is currently operating in the United States in California, Oregon, and Nevada while having an international presence in Lesotho within a planned 200-hectare cultivation zone via Bophelo as well as planned importation and distribution in the United Kingdom via Canmart.