Halo collectively plans to acquire William’s Magical Farm – QNT Press Release

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Learn more about Williams’ Wonder Farm: https://www.youtube.com/watch?v=aXUXnRb_Qh0

Toronto, July 24, 2021 /CNW/-Halo Collective Inc. (“Halo” or “Company” (NEO: HALO) (OTCQX:Canadian Food Safety Foundation) (Germany: A9KN), a vertically integrated cannabis company, has signed an asset purchase agreement, effective July 23, 2021 (“Asset Purchase Agreement”), pursuant to which its wholly-owned subsidiary ANM, Inc. (“ANM”) will acquire the cannabis cultivation business of William’s Wonder Farms (“William’s”) Oregon, Including all trademarks, pale flowers, and licenses issued by the Oregon Liquor Control Commission (“OLCC”), and are subject to OLCC approvals, equipment and related operating assets (“transactions”).

The planned acquisition of William’s Wonder Farms will enable Halo to:

• Increase Halo’s genetic library by providing more foreign strains.
• Increase the total planting area owned and managed by Halo to 11 acres of outdoor planting area Oregon, Created one of the largest planting companies in the state.
• Fresh, high-quality flowers are grown in greenhouses throughout the year, and light-colored flowers are produced nine months of the year.
• Provide space for Halo to add two more Tier 2 management licenses to William’s site, bringing the total area to 5 acres of outdoor and greenhouse planting areas Williams.
• Add a wholesale license on site as a center for all Halo’s flower processing, pruning and other ancillary services Southern Oregon Farm to increase an additional source of income.
• Six more greenhouses were added to obtain more annual lighting materials, thereby increasing annual flower sales.
• Add a series of pre-rolls and concentrates to the excellent William’s Wonder brand.Pre-rolls and concentrates account for more than 20% of retail sales Oregon 2020 market¹. By adding new SKUs to these categories, the William Wonder brand is expected to grow.

ANM Williams Farm LLC, an indirect wholly-owned subsidiary of Halo, will acquire three Tier II hemp production licenses and related operating assets, including plants, cloning and other breeding equipment, and containers located in leased locations in the United States. Grants Pass, OregonANM Williams Farm LLC will have a five-year lease of the relevant properties and the right of first refusal to purchase these properties.

According to unaudited year-end results, the sales of William’s Wonder products in 2020 Oregon just ended 2.4 million USD, Resulting in EBITDA approaching USD 600,000. In the first three months of 2021, unaudited results show that sales exceeded 800,000 USD, An annual growth rate of 48%.EBITDA for the same period just ended 300,000 USD.

After signing the asset purchase agreement, Halo will assist William’s Wonder Farms in the daily operation of the business in accordance with the terms of the service agreement, and will purchase 100% of the products grown on the site in accordance with the off-take agreement.

The signing of the final agreement on William’s Wonder Farm will increase Halo’s total harvestable cannabis canopy Oregon Increased to 11 acres this season: William’s Wonder Farms 3 acres, East Evan’s Creek 6 acres Jackson County, 1 acre additional pre-purchased at Applegate , 1 acre Fall creek Wembley Farm. William’s Wonder Farms is located on fertile soil, close to fresh water from the Applegate River, and has perfect water rights.William’s miracle brand is well known and has been Portland More than 70% of William’s sales come from this market Oregon occur.

Halo also works with William HillCEO and owner of William’s Wonder Farms, providing transition and operational services related to the business acquired by Halo. Halo believes that William’s knowledge, expertise and success lies in Oregon The market will help strengthen its plants to expand planting and increase the state’s flowers.

Transaction details

After the transaction is completed, ANM Williams Farms LLC will obtain OLCC licenses and related operating assets from two entities conducting business as William’s Farms: William’s Wonder Farms LLC and Set Ventures LLC (“William’s Wonder Entities”). The consideration that Halo pays for acquiring the assets of William’s Wonder Entities is $3.8 million, Handle USD 2.8 million Cash and ● Halo common stock (“Halo Shares”). 500,000 USD The purchase price of will be placed in escrow as the source of any potential compensation claims against the seller. The completion of this transaction is subject to the approval of NEO Exchange Inc. and OLCC, as well as the satisfaction of other customary closing conditions. The transaction is expected to be completed in the fourth quarter of 2021.

While signing the asset purchase agreement, ANM and William’s Wonder Entities also signed a service agreement under which ANM Williams Farms LLC will assist in the daily operation of the business until…

The full story can be found on Benzinga.com

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