Under the Licensing Agreement, Papa’s Herb gives Halo permission to produce and market products under its registered trademarks in the Oregon Market. In addition, the Licensing Agreement allows Halo to exclusively license Papa’s Herb trademark images and wordmarks, “PAPA’S HERB” and “COME TO PAPA,” and product portfolio to include their signature Papa’s THC Distillate Vape Pens, Live Resin Concentrates, and Papa’s Infused Pre-Rolls.
Papa’s Herb has been licensed successfully and has shown significant growth in multiple mature markets since the brand’s inception in 2019. Papa’s Herb intends to become a leading Miami cannabis brand and to bring its high-quality Papa’s Products to cannabis markets worldwide.
In 2021 Papa’s Herb also expanded to the Canadian market through a license agreement with Tilray (TSE: TLRY) (NASDAQ:TLRY), one of the largest licensed cannabis producers in Canada. Papa’s Herb has penetrated over 60% of the total Ontario market in the first six months of 2021 with only two product segments1.
Papa’s Herb products have garnered a strong foothold in the California cannabis market. In 2021, Papa’s Herb posted over 113% year-over-year (“YOY”) growth in the vape category while other competitors have lost market share1. Indeed Papa’s Herb is one of only four brands to show growth in the vape category in 20212.
“We are extremely excited to enter the Oregon market with a like-minded group such as Halo. Oregon represents the 3rd state and 2nd country where Papa’s Herb has expanded to over the last 24 months. Halo is the ideal partner for Oregon; with their proven track record and robust infrastructure, Halo will provide Papa’s Herb with the ideal platform necessary to deploy our successful licensing model,” said Max Benitah, Chief Operating Officer. We look forward to launching our high quality Papa’s products in the Oregon market and working hard to earn the trust of the customers through the 650+ dispensaries in the market.
“Halo is very excited to work with Papa’s Herb. This mutually beneficial partnership will provide Papa’s Herb’s high-quality cannabis products to customers in Oregon and help strengthen Halo’s reach across the region as well as additional revenue to both companies,” said Kiran Sidhu, Halo CEO and Co-founder. “We look forward to leveraging the Papa’s Herb brand and Halo’s manufacturing and distribution prowess in Oregon.”
About Halo Collective Inc.
Halo is a leading, vertically integrated cannabis company that cultivates, extracts, manufactures, and distributes quality cannabis flower, oils, and concentrates and has sold approximately nine million grams of oils and concentrates since inception. Halo continues to expand its business and scale efficiently, partnering with trustworthy leaders in the industry, who value Halo’s operational expertise in bringing top-tier products to market.
The Company is currently operating in the United States in California and Oregon, in Southern Africa in the Kingdom of Lesotho, and in the United Kingdom. The Company sells cannabis products principally to dispensaries in the U.S. under its brands, Hush, Mojave, and Exhale, and under partnership or license with DNA Genetics, Terphogz and FlowerShop, a cannabis lifestyle and conceptual wellness brand in which G-Eazy is a partner and key member of FlowerShop. The Company has also acquired three KushBar retail cannabis stores location in the Canadian province of Alberta, as a first in its planned entry into the Canadian market leveraging its Oregon and California brands.
As part of continued expansion and vertical integration in the U.S., Halo boasts several grow operations throughout Oregon and two planned in California. In Oregon, the Company has a combined 9 acres of outdoor cultivation, including East Evans Creek, a six-acre grow site in Jackson County, Blue Sky Farms, a two-acre grow site located in Jackson County and Winberry Farms, a one-acre grow site located 30 miles outside Eugene in Lane County. In California, the Company is building out Ukiah Ventures, a planned 30,000-square-foot indoor grow and cannabis processing facility including up to an additional five acres of industrial land to expand this indoor grow site. Recently, Halo partnered with Green Matter Holding to purchase Bar X Farm in Lake County, developing up to 80 acres of cultivation which would comprise the largest single licensed grow in California.
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1 All sales figured sourced from BDSA Sales Data and the Company’s internal calculations |
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2 All sales figures sourced from the May 2021 BDSA Sales Data |
Halo also has acquired a range of software development assets, including technology platforms CannPOS, Cannalift, and, more recently, CannaFeels. Halo also owns the discrete sublingual dosing technology, Accudab. The Company intends to spin-off these assets along with its intellectual property and patent applications into its subsidiary Halo Tek Inc. and complete a distribution to shareholders on a record date to be determined by Halo.
Halo has recently announced its intention to reorganize its non-U.S. operations into a newly formed corporation called Akanda Corp. (“Akanda”) whose mission will be to provide high quality and ethically sourced medical cannabis products for patients worldwide. Akanda will seek to deliver on this promise while driving positive change in wellness, empowering individuals in Lesotho, and by uplifting the quality of the lives of employees and the local communities where it operates – and while limiting its carbon footprint. Akanda will combine the scaled production capabilities of Bophelo Bioscience & Wellness Pty. Ltd. (“Bophelo”), Halo’s Lesotho-based cultivation and processing campus, located in the world’s first Special Economic Zone (SEZ) containing a cannabis growth operation, with distribution and route-to-market through Canmart Ltd. (“Canmart”), Halo’s UK-based fully approved pharmaceutical importer and distributor which supplies pharmacies and clinics within the U.K. With a potential maximum licensed canopy area of 200 hectares (495 acres), Bophelo has scalability that is arguably unmatched in the world today.
For further information regarding Halo, see Halo’s disclosure documents on SEDAR at www.sedar.com
About Papa’s Herb®
Papa’s Herb was founded in California “by the people, for the people.” The brand represents a family lineage and history that produces quality flower sustainably sourced with the goal to ensure that people always have a quality source of affordable cannabis. With strong alliances formed with hundreds of old-school original farms within the Emerald Triangle, Papa’s Herb focuses on supporting generational family farms and farmers by sourcing from regulated farms in their communities. The brand stands for high-quality, value-focused cannabis products while remaining equally committed to sustainability and the community. Papa’s Herb believes customers shouldn’t have to overspend to get quality cannabis products.
For more information about Papa’s Herb, visit https://papasherb.com/
Cautionary Note Regarding Forward-Looking Information and Statements
This press release contains certain “forward-looking information” within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only Halo’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Halo’s control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur” or “will be achieved”. Forward-looking information may relate to anticipated events or results including, but not limited to the proposed manufacturing and distribution of Papa’s Herb branded products by Halo in the state of Oregon and the impact thereof on the prospects of Halo, the manufacturing and distribution of THC beverages by Halo, development and expansion of Bophelo’s operations and the granting of certifications, Halo’s planned expansion into the Canadian retail market, the expected size and capabilities of the final facility planned at Ukiah Ventures, the size of Halo’s planned cultivation facility in Northern California and the ability of Bophelo and Canmart to serve the U.K. market.
By identifying such information and statements in this manner, Halo is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from those expressed or implied by such information and statements. In addition, in connection with the forward-looking information and forward-looking statements contained in this press release, Halo has made certain assumptions. Although Halo believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. Among others, the key factors that could cause actual results to differ materially from those projected in the forward-looking information and statements are the following: unforeseen delays or circumstances that prevent the applicable stock exchanges from commencing trading in the Company’s shares or warrants; delays in obtaining required licenses or approvals, delays or unforeseen costs incurred in connection with construction, the ability of competitors to scale operations in Northern California, delays or unforeseen difficulties in connection with the cultivation and harvest of Halo’s raw material, changes in general economic, business and political conditions, including changes in the financial markets; and the other risks disclosed in the Company’s annual information form dated March 31, 2021 and other disclosure documents available on the Company’s profile at www.sedar.com. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected.
The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and Halo does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward-looking information and statements attributable to Halo or persons acting on its behalf is expressly qualified in its entirety by this notice.
Third Party Information
This press release includes market and industry data that has been obtained from third party sources, including industry publications. The Company believes that the industry data is accurate and that its estimates and assumptions are reasonable, but there is no assurance as to the accuracy or completeness of this data. Third party sources generally state that the information contained therein has been obtained from sources believed to be reliable, but there is no assurance as to the accuracy or completeness of included information. Although the data is believed to be reliable, the Company has not independently verified any of the data from third party sources referred to in this press release or ascertained the underlying economic assumptions relied upon by such sources.
SOURCE Halo Collective Inc.
For further information: Contact Information: Halo Collective, Investor Relations, [email protected], www.haloco.com/investors
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