TORONTO, March 18, 2022 – Halo Collective Inc. (“Halo” or the “Company”) (NEO: HALO) (OTCQB: HCANF) (Germany: A9KN) today announced that the first Budega™ dispensary is now officially open in the Arts District of North Hollywood, California (“NoHo”). This is the first of three Budega stores planned to open in Los Angeles.
“We are thrilled to establish our Southern California retail presence with the opening of our Budega store in NoHo,” said Katie Field, President and Director of Halo. “Budega is a community-centric dispensary committed to elevating the cannabis experience through Californian ideals: superior quality, locally-sourced products, and sunset vibes. I can’t think of a better place to launch than in the middle of one of the most vibrant neighborhoods of L.A.”
Budega North Hollywood is located at the northwest corner of Lankershim Boulevard and Hesby Avenue. Currently, hours of operation are Monday through Sunday from 7 a.m. to 10 p.m. Visit www.budega.com for more information.
Beau McKeon, SVP of Retail stated, “The shop is already performing beyond our expectations. We expect more revenue build-up prior to our upcoming grand opening events which coincides perfectly with our delivery services expected to start in April.”
The store offers a vast product assortment exceeding 1000 SKUs, including many top-tier California brands including Jungle Boys, Cookies and Kiva and the debut of Budega’s own line of branded products. The store will also stock Halo’s Hush™ branded cartridges, gummies, and pre-rolls. The Company is also licensed for delivery, and this additional service is expected to increase top-line sales and help capture overall market share. The NoHo location’s delivery service area will include Studio City, North Hollywood, Hollywood Burbank, and the Eastern San Fernando Valley.
About Halo Collective Inc.
Halo is a leading, vertically integrated cannabis company focused on the West Coast of the United States and operates other emerging businesses in CBD and non-psychotropic mushroom functional beverages. In its cannabis operations, the Company cultivates, extracts, manufactures, and distributes quality cannabis flower, oils, and concentrates and has sold hundreds of millions of grams of cannabis in the form of flower, pre-rolls, vape carts, edibles, and concentrates since inception. The Company sells a portfolio of branded cannabis products including its proprietary Hush™, Winberry Farms™, Williams Wonder Farms, and Budega™ brands, and under license agreements with Papa’s Herb®, DNA Genetics, Terphogz, and FlowerShop*.
In Oregon, Halo has a combined 14 acres of owned and contracted outdoor and greenhouse cultivation. The Company also operates Food Concepts LLC, a master tenant of a 55,000 square foot indoor cannabis cultivation, processing, and wholesaling facility in Portland.
In California, Halo maintains licenses for extraction, manufacturing, and distribution. The Company has partnered with Green Matter to purchase the Bar X Farm in Lake County and plans to develop up to 63 acres of cultivation, comprising one of the largest licensed single-site grows in California. Halo has opened a dispensary in Los Angeles under the Budega™ brand in North Hollywood and plans to open two more in Hollywood, and Westwood by the 2nd quarter of 2022.
Halo is also expanding into other consumer health and wellness categories expected to experience rapid growth in consumer demand, including functional supplements such as nootropic nutraceuticals. The Company has recently agreed to acquire H2C Beverages, a company focused on cannabinoids and non-psychotropic mushroom functional beverages, and entered into a distribution and manufacturing agreement with Elegance Brands Inc., to propel the national distribution of beverages, capsules, and topical supplements under H2C and Halo’s functional mushroom brand, Hushrooms.
Halo has acquired a range of software development assets, including CannPOS, Cannalift, CannaFeels, and a discrete sublingual dosing technology, Accudab. The Company intends to reorganize these entities (including their intellectual property and patent applications) into a subsidiary called Halo Tek Inc., and to complete a distribution of the shares of Halo Tek Inc. to shareholders on record, at a date to be determined.
Halo also operates three Kushbar retail cannabis stores located in Alberta, Canada.
Outside of North America, Halo is the largest shareholder of Akanda (NASDAQ: AKAN). Akanda is an international medical cannabis and wellness platform company seeking to help people lead better lives through improved access to high quality and affordable products. The Company is building a seed-to-patient supply chain, connecting patients in the UK and Europe with diverse products, including cannabis products cultivated at its competitively advantaged grow operation in the Kingdom of Lesotho and with other trusted third-party brands.
Akanda’s initial portfolio includes Bophelo Bioscience & Wellness, a GACP qualified cultivation campus in the Kingdom of Lesotho in Southern Africa, and CanMart, a UK-based fully licensed pharmaceutical importer and distributor which supplies pharmacies and clinics within the UK.
This article was shared with Prittle Prattle News as a Press Release by PRNewswire.
