Halo Labs Reports 118 New Dispensary Customers In Q1 2020, An Increase of 58% Quarter over Quarter

Halo Labs Inc. (NEO: HALO, OTCQX: AGEEF, Germany: A9KN) announces that the Company has sold its products into 118 new dispensaries1 (62 new dispensaries in California and 56 new dispensaries in Oregon) in the first calendar quarter of 2020. This represents an increase in the Company’s dispensary customer base of 282% in California and 19% in Oregon compared to Q4 2019 ending December 31, 2019.

Halo is a leading cannabis cultivation, manufacturing, and distribution company that grows and extracts and processes quality cannabis flower, oils, and concentrates and has sold over 5 million grams of oils and concentrates since inception. Additionally, Halo has continued to evolve its business through delivering value with its products and now via verticalization in key markets in the United States and Africa with planned expansion into European and Canadian markets. With a consumer-centric focus, Halo markets innovative, branded, and private label products across multiple product categories.

Recently, the Company entered into binding agreements to acquire a dispensary in Los Angeles, 3 KushBar branded dispensaries, five development permits in Alberta Canada, and Canmart Limited which holds wholesale distribution and special licenses allowing the import and distribution of cannabis-based products for medicinal use (CBPM’s) in the United Kingdom. Halo is led by a strong, diverse management team with deep industry knowledge and blue-chip experience. The Company is currently operating in the United States in California, Oregon, and Nevada while having an international presence in Lesotho within a planned 205-hectare cultivation zone via Bophelo Bioscience & Wellness (Pty) Ltd. as well as planned importation and distribution in the United Kingdom via Canmart.

The total number of stores currently penetrated 84 of 5912 in California and 236 of 6593 in Oregon represent approximately 14% and 36% percent of the total licensed dispensary market indicating plenty of room to continue the rapid rate of opening new customers.

The Company attributes the trajectory of promising dispensary sales results to several strategies including expanding product selection both breadth of categories and depth of SKUs and increased segmentation of product offering to compete in key categories such as cartridges which are now available in cannabis derived terpene and live resin formulations.

“Selling product into new dispensaries and holding that shelf space is the Company’s key driver to accelerate sales growth. We intend to report this metric quarterly,” said Andreas Met, Co-Founder and Chief Operating Officer. He continued, “We plan to deliver financial results stemming from quality topline sales. Our metrics and report cards enable us to fine tune tactics, leading to month over month gains. With room to increase penetration both in California and Oregon, we anticipate 2020 will be Halo’s best performing year to date.”