Halo Labs Provides Oregon Business Update

Nachrichtenquelle: Business Wire (engl.)
12.09.2020, 06:16  |  2152   |   |   

Halo Labs Inc. (“Halo” or the “Company”) (NEO: HALO, OTCQX: AGEEF, Germany: A9KN) announces that Halo expects a harvest on the six-acre outdoor Evans Creek grow site (“EEFC”) of approximately 18,000 pounds (8,165 Kilos) of dry weight, usable, cannabis--a result of favorable climate conditions throughout the region. Halo expects this year’s East Evans Creek harvest to have a wholesale value of up to $9,000,000. According to Halo’s CEO, Kiran Sidhu, “Despite widespread fires in Oregon, our farm at EEC has been unaffected. Sadly, many properties in the Rogue Valley were destroyed due to local wild fires; however the East Evans Creek valley has fortunately been unaffected by fire.”

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200911005524/en/

Figure 1: Image captured at our six-acre outdoor East Evans Creek grow site (Photo: Business Wire)

Figure 1: Image captured at our six-acre outdoor East Evans Creek grow site (Photo: Business Wire)

Physical harvests began earlier this month. The strains being harvested included a pilot program of 2,000 “auto-flowering” plants. To date, this part of the harvest yielded approximately 1,500 pounds of wet weight. Given the anticipated success of this small pilot program, the Company intends to expand this method next year to up to 50,000 plants, a move that is expected to increase the company’s harvest in 2021 by up to 2,500 pounds of dry weight flower and 2,500 pounds of shatter-grade extraction material. Andreas Met, Halo’s co-founder and COO states, “We had an opportunity to source some excellent genetics late in the season, and took a small risk with these plants. The results were excellent. We expect this will have a positive impact not only in Oregon, but also for the Company’s operations in Lesotho. We anticipate that these auto-flowering plants may allow us to schedule an additional harvest, that will potentially add another $2,500,000 of revenue to next year’s harvest.”

This year, Halo partnered with DNA Genetics and Zkittlez (Terphogz). In a combined effort, the Company planted twenty-one award winning strains this year. This is more than half of the strains we planted. As anticipated, these plants have adapted well in a new climate. Halo expects to sell these strains at premium prices in the Oregon market. Andreas Met affirmed, “We are excited to be the exclusive distributors of DNA Genetics and Terphogz in Oregon. We anticipate that the quality and name-recognition associated with these leading brands will raise our average unit price on the sales end; and we are also well-positioned to leverage these relationships in Lesotho on an even larger scale.”

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