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Halo Labs Clarifies Previous Press Release Regarding Share Issued in Lieu of Cash to Employees and Consultants

17:00 EST 13 Feb 2020 | Businesswire
Halo Labs Inc.

Not for Distribution to U.S. Newswire Servicers or For Dissemination in the United States

Halo Labs Inc. (“Halo” or the “Company”) (NEO: HALO, OTCQX: AGEEF, Germany: A9KN) wishes to correct information previously press-released by the Company with respect to common shares issued by the Company in October and November 2019.

On November 14, 2019 the Company issued a press release that specified that the Company had issued an aggregate of 10,440,320 common shares to certain directors, employees and independent contractors of the Company in lieu of cash consideration (“Shares In Lieu of Cash”). The Company issued the Shares in Lieu of Cash in two tranches. The first tranche of 3,997,648 Shares in Lieu of Cash was issued on October 15, 2019 at a price of C$0.30 per share and in satisfaction of C$1,199,295 of payables owed by the Company. The press release stated that an aggregate of 3,832,167 of the Shares in Lieu of Cash issued in the first tranche were subject to a hold period of four months plus one day from the date of issuance. The second tranche of 6,442,672 Shares in Lieu of Cash was issued on November 13, 2019 at a price of C$0.26 per share and in satisfaction of C$1,675,096 of payables owed by the Company. The press release stated that an aggregate of 6,333,088 of the Shares in Lieu of Cash issued in the second tranche were subject to a hold period of four months plus one day from the date of issuance. But in fact the recipients of 3,832,167 Shares in Lieu of Cash in the first tranche and 6,333,088 Shares in Lieu of Cash issued in the second tranche were not subject to a hold period of four-months plus one day.

About Halo

Halo is a global cannabis extraction company that develops and manufactures quality cannabis oils and concentrates, which are the fastest growing segments in the cannabis industry. Halo is a global leader in cannabis oil and concentrates, having produced over 4.5 million grams of oils and concentrates since inception. The Company has expertise across all major cannabis manufacturing processes, leveraging a variety of proprietary processes and products. The forward-thinking company is led by a strong management team with deep industry knowledge and blue-chip experience. The Company is currently operating in California and Oregon, as well as in Nevada with our partner Just Quality, LLC, and in Lesotho with the 205-hectare Bophelo cultivation zone.

With a consumer-centric focus, Halo will continue to market innovative, branded, and private label products across multiple product categories. Halo recently acquired Dispensary Track platform which will alleviate customer flow constraints experienced by dispensaries and enable direct consumer interaction.

For further information regarding Halo, see Halo’s disclosure documents on SEDAR at www.sedar.com.

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".

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. 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.

ACTIVE 48249079v1

Halo Labs
Investor Relations
info@halocanna.com

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