SEATTLE, WA, April 09, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – CFN Media Group (“CFN Media”), the leading agency and financial media network dedicated to the North American cannabis industry announces publication of an article and on-site video discussing Halo Labs Inc. (NEO: HALO) (OTC: AGEEF) (Germany: A9KN). HALO is a cannabis extraction company founded in 2016 in Oregon with operations in California and Nevada. As an early manufacturer of high-quality cannabis oils and concentrates, the company has produced over three million grams of product since its inception, making it one of the largest cannabis concentrate manufacturers in the country. Investors have the opportunity to participate in this growth story following its public listing on the NEO exchange and more recently on the US OTC Market.
Concentrates are the fastest growing segment of the cannabis industry, according to Arcview Market Research, with sales growing nearly 50 percent to about $3 billion last year in the US. As consumers seek out discreet and healthier consumption methods, the market intelligence firm predicts that US concentrate sales will reach $8.4 billion by 2022 and surpass dried flower as the most popular consumption method for patients and consumers.
CFN Media traveled to Medford Oregon to film the company’s operation and speak with CEO Kiran Sidhu.
Please click here to see the Full Video.
Recent Expansion into California & Nevada
Halo Labs has been rapidly expanding across the country with new operations in California and Nevada. In fact, the company recently reported three consecutive months of record revenue including $2.4 million in revenue during January, $2.6 million in revenue during February, and $2.8 million in revenue in March 2019, with over half of those figures coming from newly launched California operations. These three months combined account for over 50% of total revenues generated in 2018, putting Halo on a trajectory that boasts over 300% growth. With a 15,500 sq. ft. facility in Cathedral City, the company has signed contracts to deliver concentrates worth more than $4 million per month in the state.
In Nevada, the company acquired two licenses for manufacturing and cultivation with a pending license for distribution. The team is selling one private label and two in-house brands across 18 dispensaries with its 8,000 sq. ft. licensed processing facility near the Las Vegas airport. Given the state’s massive tourism industry, these sales could become a meaningful part of its total revenue over the near-term.
In addition to California and Nevada, the company has established international partnerships in Africa. These partnerships include a 14-hectare land package off-take agreement and a 20 percent stake and $0.50 to $2.00 royalty on a signed letter of intent in Lesotho Africa. Management is also in active discussions with potential European-based partnerships that could diversify and enhance its revenue.
Leading Market Position in Concentrates
Halo Labs has established a dominant position in Oregon’s concentrates market over the past three years with both white label and in-house brands. With a 20 percent market share in wholesale concentrates, the company has produced over two million grams of concentrate and generated over $25 million in revenue with its 19,200 sq. ft. facility in Medford and six acres of outdoor canopy in Jackson County.
The company has developed expertise in all four major extraction processes, including butane, propane, supercritical CO2, and proprietary solvents. Each of these methods has their own benefits and product categories, which provides the company with more flexibility than others focused on a single extraction method. This is especially important in white label markets where there are a wide variety of requirements among clients.
In addition to these extraction methods, the company has developed innovative new products that are redefining the way consumers use cannabis. Notably, the company has exclusive rights in California and Nevada to DabTabs™. DabTabs™ are proprietary ceramic discs that store a pre-measured dose of either cannabis concentrates or oils to provide a cleaner, smoother, mess-free way to consume full spectrum cannabis concentrates in almost any dabbing device on the market.
Looking Ahead
Halo Labs Inc. (NEO: HALO) (OTC: AGEEF) (Germany: A9KN) is well positioned to capitalize on the fastest growing segment of the cannabis industry with operations in Oregon, California, Nevada and international markets. With the expansion already generating meaningful revenue, investors may want to take a closer look at the company as it continues to scale up its business and expand into new markets with innovative products.
For more information, visit the company’s website at www.halocanna.com.
Please follow the link to read the full article on CFN: https://www.cannabisfn.com/halo-labs-building-a-cannabis-concentrate-empire/
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