Halo Collective’s Bophelo Bioscience & Wellness Achieves EU GACP Certification, Clearing a Path for Commercial Export of Medical Cannabis from Africa
European Good Agricultural and Collection Practices enables Bophelo to enter the international medical cannabis supply chain, specifically the European Union
Not for Distribution to U.S. Newswire Services or For Dissemination in the United States
Toronto, August 6, 2021 – Halo Collective Inc. ("Halo") (NEO: HALO) (OTCQX: HCANF) (Germany: A9KN) today announced that its wholly-owned subsidiary Bophelo Bioscience & Wellness (Pty) Ltd. ("Bophelo") has secured European Good Agricultural and Collection Practices (“EU GACP”) compliance for cannabis grown at Bophelo’s initial 14-hectare cultivation site, scalable up to 200-hectares, located in T’sakholo, Mafeteng, which forms part of the first Special Economic Zone ("SEZ") in Lesotho, Africa.
EU GACP certification enables Bophelo to export medicinal cannabis and international markets, including the European Union. According to Prohibition Partners, a leading market intelligence firm providing strategic consultancy services, insights and data on the global cannabis industry, the EU medical cannabis market is predicted to be worth approximately $37 billion by 2027.
Bophelo is one of the key international medical cannabis assets expected to make up Akanda Corp. (“Akanda”). In June 2021, Halo announced the proposed reorganization of its non-U.S. medical operations (the “International Reorganization”) into Akanda, to be led by accomplished cannabis and corporate finance and banking industry executive Tej Virk and Halo’s former Executive Chairman Louisa Mojela, one of Africa’s most accomplished female entrepreneurs. The current 14-hectare site is scalable up to a 200-hectare Lesotho-based cultivation and processing campus. Akanda is also expected to include 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 UK.
“EU GACP certification is a hard-won accomplishment that enables Bophelo to participate in the large, rapidly growing market in the EU for medicinal cannabis,” commented Kiran Sidhu, CEO and Co-Founder of Halo. “With this approval, Bophelo can begin commercializing its California and Oregon west coast style cannabis for the EU immediately. In addition, Bophelo is actively working to secure distributors for its premium flower lines. Many thanks to Tej and his team for putting in the hard work to get GACP across the line.”
THE EU GACP certification was awarded to Bophelo by Pharmaconsulta Ltd. ("Pharmaconsulta"), an independent consultancy firm based in Malta specializing in pharmaceutical regulatory affairs. Pharmaconsulta’s audits are recognized globally.
About Akanda Corp.
Akanda is a recently formed Ontario corporation that was founded in connection with the proposed International Reorganization. Following completion of the International Reorganization, it is anticipated that Akanda will be an international medical cannabis company, cultivating ethically sourced cannabis of the highest quality at scale, leveraging trusted brands, at a low-cost compared to many of its competitors. It is expected that Akanda’s initial portfolio will include key businesses such as Bophelo, Halo’s cultivation and processing campus in the Kingdom of Lesotho in Southern Africa, with distribution and route-to-market through CanMart, Halo’s UK-based fully approved pharmaceutical importer and distributor which supplies pharmacies and clinics within the U.K.
Bophelo operates a campus in the Kingdom of Lesotho focused on the cultivation and production of medical cannabis products for international export. Akanda believes Bophelo to be one of the largest licensed marijuana cultivation sites in the world with access to a maximum of 200 hectares of canopy. Through partnerships and licensing agreements with award-winning seed producers, including DNA Genetics, Bophelo will provide Akanda with a low-cost gateway to the broader African continent and access to international markets. CanMart is one of a limited number of fully-approved importers and distributors of medical cannabis products in the U.K. market with supply and distribution to pharmacies and clinics throughout the U.K. CanMart is committed to providing a range of the best possible cannabis-based medicinal products sourced from around the world.
A cornerstone of Akanda’s value system is its fundamental commitment to using its operations as a force for sustainability and social good. Akanda will seek to deliver on this promise by 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 – while limiting its carbon footprint. Adhering to best practice ESG sustainability and disclosure standards is among Akanda’s highest priorities.
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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. The Company 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.
Halo currently operates in the United States in Oregon and California, Canada, Southern Africa in the Kingdom of Lesotho, and the United Kingdom. The Company sells cannabis products principally to dispensaries in the U.S. under its brands Hush, Mojave, and Exhale, and under license agreements with Papa's Herb®, DNA Genetics, Terphogz, and FlowerShop*, a cannabis lifestyle and conceptual wellness brand that includes G-Eazy as a partner and key member.
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 11 acres of owned and contracted outdoor cultivation, including East Evans Creek, a six-acre grow site in Jackson County with four licenses owned and operated by Halo and two third-party licenses under contract to sell all of their product to Halo; Winberry Farms, a one-acre grow site located 30 miles outside of Eugene in Lane County with a license owned and operated by Halo; and William's Wonder Farms, a three-acre grow site in Applegate Valley, under contract to sell all of its product to Halo pending the closing of Halo’s acquisition of its licenses and business assets.
In California, the Company is building out Ukiah Ventures, a planned 30,000 sq. ft. indoor cannabis grow and processing facility, which will include up to an additional five acres of industrial land to expand the site. Recently, Halo partnered with Green Matter Holding in California to purchase a property in Lake County, developing up to 63 acres of cultivation, comprising one of the largest licensed single site grows in California. Halo also plans to expand its operations in California by opening three dispensaries in North Hollywood, Hollywood, and Westwood, one of which may serve as the first FlowerShop* branded dispensary.
In Canada, Halo acquired three KushBar retail cannabis stores located in Alberta as a first in its planned entry into the Canadian market, leveraging its Oregon and California brands. With the KushBar retail stores as a foundation, the Company plans to expand its foothold in Canada.
Halo has also acquired a range of software development assets, including CannPOS, Cannalift, and, more recently, CannaFeels. In addition, Halo owns the discrete sublingual dosing technology, Accudab. The Company intends to spin-off these assets and its intellectual property and patent applications into its subsidiary Halo Tek Inc. and expects to 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 entity called Akanda Corp., whose mission will be to provide high-quality and ethically sourced medical cannabis products to patients worldwide. Akanda will seek to deliver on this promise while driving positive change in wellness, empowering individuals in Lesotho, and uplifting the quality of the lives of employees and the local communities where it operates, all while limiting its carbon footprint. Akanda will combine the scaled production capabilities of Bophelo Bioscience & Wellness Pty. Ltd., Halo's Lesotho-based cultivation and processing campus located in the world's first Special Economic Zone (SEZ) containing a cannabis cultivation operation, with distribution and route-to-market efficiency of Canmart Ltd., Halo's UK-based fully approved pharmaceutical importer, and distributor that 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
Connect with Halo Collective: Email | Website | LinkedIn | Twitter | Instagram
Contact Information
Halo Collective Inc.
Investor Relations
Akanda Corp.
Matt Chesler, CFA
FNK IR
Investor Relations
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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 terms and completion of the International Reorganization and the prospects of Akanda, the development of Bophelo's operations, 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 international markets.
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