Halo Labs Inc. (“Halo” or the “Company”) (NEO: HALO, OTCQX: AGEEF, Germany: A9KN) provides an update on recent conversions of the Companys 8% unsecured convertible debentures (the Debentures).
Since completion of the Companys offering of the Debentures on April 4, 2019, the Company has issued an aggregate of 10,521,469 common shares pursuant to the conversion of Debentures. The conversions have had the effect of reducing the Companys debt by CAD$6.9MM. Halo now has an outstanding share count of 181,062,305.
Kiran Sidhu, Chief Executive Officer of Halo, comments: We are pleased by the recent conversion of the Debentures into common shares. As more of the debentures are converted, Halos debt burden is reduced, and our liquidity is increasing.
ABOUT HALO LABS
Halo is a cannabis extraction company that develops and manufactures quality cannabis oils and concentrates, which are the fastest growing segments in the cannabis industry. Halo has expertise in all major cannabis manufacturing processes, leveraging proprietary processes and products, and has produced over 3.5M grams of oils and concentrates since inception. 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 Nevada with our partner Just Quality. The Company has also begun operations in Lesotho Africa through a strategic partnership. With a consumer-centric focus, Halo will continue to market innovative branded and private label products across multiple product categories.
For further information regarding Halo, see Halos disclosure documents on SEDAR at www.sedar.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 Halos beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Halos 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. The forward-looking information and forward-looking statements contained herein may include, but is not limited to, the expected timing and amount of convertible debt that converts to common shares and Halos business generally.
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. 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.