/NOT FOR DISTRIBUTION TO
"January has started off with a bang as a result of unanticipated increased sales of finished goods to dispensary clients. We need capital for raw material, packaging supplies, inventory restocking and general working capital purposes," stated
The financing is comprised of an unsecured non-revolving line of credit for up to
The Credit Facility remains subject to the satisfaction or waiver of certain customary conditions precedents and the negotiation and execution of definitive documentation, however, in accordance with the terms of the Commitment Letter, the Company will receive an initial advance of
In connection with the entering into of the Credit Facility, the Company has agreed to issue common shares in satisfaction of: (i) a
About
Halo is led by a strong, diverse and innovative management team with deep industry knowledge and blue-chip experience. The company is currently operating in the
As part of continued expansion and vertical integration in the
Recently, the Company has entered into a non-binding letter of intent with Red Light Holland Corp. for the purpose of creating a joint venture to become a licensed psilocybin manufacturer to supply psilocybin products to licensed service centers in the
Internationally, the Company is currently cultivating cannabis at
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 execution of definitive loan documentation in respect of the Credit Facility, the advancement of the Initial Advance, the issuance of common shares in satisfaction of certain fees payable in connection with the Credit Facility and Commitment Letter and the hold periods applicable to such common shares.
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: the availability to the Company of alternative sources of financing; an inability of the parties to successfully negotiate the terms of definitive loan documentation; delays in obtaining required regulatory approvals; changes in the financial markets; and the other risks disclosed in the Company's annual information form dated
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.
SOURCE
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