An anonymous director reports

HALO COLLECTIVE TODAY ANNOUNCES THE COMPLETION OF ITS AT-THE-MARKET OFFERING

Halo Collective Inc. has completed its previously announced at-the-market equity financing program. Under the ATM program, the company sold an aggregate of 433,426,063 common shares of the company between May 4, 2021, and Sept. 17, 2021. The common shares were sold at prevailing market prices for aggregate gross proceeds of approximately $20-million.

Distributions of the common shares through the ATM program were made pursuant to the terms of an equity distribution agreement dated May 4, 2021, by and among the company and PI Financial Corp.

The company expects to use the net proceeds from the ATM program for general corporate purposes, which may include: (i) working capital; (ii) capital expenditures; and (iii) debt repayments.

The offering under the ATM program was made pursuant to a prospectus supplement dated May 4, 2021, to the company's short form base shelf prospectus dated Sept. 2, 2020. The prospectus supplement and the base shelf prospectus are available on the SEDAR website maintained by the Canadian Securities Administrators.

About Halo Collective Inc.

Halo is a leading, vertically integrated cannabis company that cultivates, extracts, manufactures and distributes quality cannabis flower, oils and concentrates, and has sold approximately 11 million grams of oils and concentrates since inception. The company continues to expand its business and scale efficiently, partnering with trustworthy leaders in the industry who value Halo's operational expertise in bringing top-tier products to market.

Halo currently operates in the United States in Oregon and California, Canada, Southern Africa in the Kingdom of Lesotho, and the United Kingdom. The company sells cannabis products principally to dispensaries in the United States under its brands Hush, Mojave and Exhale, and under licence agreements with Papa's Herb, DNA Genetics, Terphogz and FlowerShop*, a cannabis lifestyle and conceptual wellness brand that includes G-Eazy as a partner and key member.

As part of continued expansion and vertical integration in the United States, Halo boasts several grow operations throughout Oregon and two planned in California. In Oregon, the company has a combined 11 acres of owned and contracted outdoor and greenhouse cultivation, including East Evans Creek, a six-acre grow site in Jackson county with four licences owned and operated by Halo and two third party licences under contract to sell all of their product to Halo; Winberry Farms, a one-acre grow site located 30 miles outside of Eugene in Lane county with a licence owned and operated by Halo; and William's Wonder Farms, a three-acre grow site in Applegate Valley, under contract to sell all of its product to Halo pending the closing of Halo's acquisition of its licences and business assets. Halo has recently signed a definitive agreement to acquire Food Concepts LLC. Food Concepts is the master tenant of an approximately 55,000-square-foot indoor cannabis cultivation, processing and wholesaling facility in Portland, Ore., operated by the Pistil Point entities.

In California, the company is building out Ukiah Ventures, a planned 30,000-square-foot indoor cannabis grow and processing facility, which will include up to an additional five acres of industrial land to expand the site. Recently, Halo partnered with Green Matter Holding in California to purchase a property in Lake county, developing up to 63 acres of cultivation, comprising one of the largest licensed single-site grows in California. Halo also plans to expand its operations in California by opening three dispensaries in North Hollywood, Hollywood and Westwood, one of which may serve as the first FlowerShop* branded dispensary.

In Canada, Halo acquired three KushBar retail cannabis stores located in Alberta as a first in its planned entry into the Canadian market, leveraging its Oregon and California brands. With the KushBar retail stores as a foundation, the company plans to expand its foothold in Canada.

Halo has also acquired a range of software development assets, including CannPOS, Cannalift and, more recently, CannaFeels. In addition, Halo owns the discrete sublingual dosing technology, Accudab. The company intends to spin off these assets and its intellectual property and patent applications into its subsidiary Halo Tek Inc., and expects to complete a distribution to shareholders on a record date to be determined by Halo.

Halo has recently announced its intention to reorganize its non-U.S. operations into a newly formed entity called Akanda Corp., whose mission will be to provide high-quality and ethically sourced medical cannabis products to patients worldwide. Akanda will seek to deliver on this promise while driving positive change in wellness, empowering individuals in Lesotho, and uplifting the quality of the lives of employees and the local communities where it operates, all while limiting its carbon footprint. Akanda will combine the scaled production capabilities of Bophelo Bioscience & Wellness Pty. Ltd., Halo's Lesotho-based cultivation and processing campus located in the world's first special economic zone (SEZ) containing a cannabis cultivation operation, with distribution and route-to-market efficiency of Canmart Ltd., Halo's United Kingdom-based fully approved pharmaceutical importer and distributor that supplies pharmacies and clinics within the U.K. With a potential maximum licensed canopy area of 200 hectares (495 acres), Bophelo has scalability that is arguably unmatched in the world today.

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