Mr. Marshall Minor reports

HALO COLLECTIVE PROVIDES UPDATE ON STATUS OF FINANCIAL STATEMENTS

Halo Collective Inc. is providing an update to its previously announced management cease trade order (MCTO) granted by the Ontario Securities Commission (OSC) under National Policy 12-203, Management Cease Trade Orders.

Pursuant to the MCTO, the corporation's chief executive officer, Katie Field, and the corporation's chief financial officer, Marshall Minor, may not trade in securities of the corporation until such time as the corporation files its annual audited financial statements, annual management's discussion and analysis, and related certifications, for the year ended Dec. 31, 2022, and the OSC revokes the MCTO.

The MCTO does not affect the ability of other shareholders to trade their securities.

The corporation has not yet filed the required documents, however, Halo is working diligently with its auditor and expects that the required documents will be filed as soon as possible.

The delay in filing the required documents is in connection with audit delays related to a recent change of auditor for the corporation and the additional steps required for third party valuations needed for audit purposes.

In addition to the late filing of the required documents, the company has not filed its annual information form for the year ended Dec. 31, 2022, interim financial statements, management's discussion and analysis, and related certifications, for the three-month financial period ended March 31, 2023. The company expects to file the additional disclosure documents concurrently with the filing of the required documents as soon as it obtained the necessary approvals, subject to further unforeseen delays.

Halo also confirms that it intends to satisfy the provisions of National Policy 12-203 and issue biweekly default status reports for so long as they remain in default of the financial statement filing requirement, containing any material changes to the information in this release, all actions taken by Halo to remedy the default, particulars of any failure by the corporation to fulfill these provisions, any subsequent defaults of Halo requiring a default announcement and any other material information concerning the affairs of the corporation not previously disclosed.

About Halo Collective Inc.

Halo is focused on the United States West Coast, where it has vertically integrated operations covering the entire value chain from seed to sale. Halo cultivates, extracts, manufactures and distributes quality cannabis flower, prerolls, vape carts, edibles and concentrates. Halo sells these products under a portfolio of brands, including Hush, Winberry Farms, its retail brand, Budega, and licence agreements with FlowerShop. In addition, Halo has opened two dispensaries in Los Angeles under the Budega brand in North Hollywood and Hollywood, with plans to open one more in Hollywood in 2023.

In the non-THC (tetrahydrocannabinol) sector, Halo is expanding into health and wellness categories, including CBD (cannabidiol) and functional supplements such as nootropic nutraceuticals and non-psychotropic mushrooms. Halo, through a series of acquisitions, has product offerings in the form of beverages (H2C Beverages), dissolvable strips (Dissolve Medical), capsules (Hushrooms) and topical supplements (Hatshe), with proposed national distribution via a strategic agreement with SwayEnergy Corp.

Halo has successfully acquired and integrated a variety of companies that were subsequently reorganized to create Akanda Corp., an international medical cannabis and wellness company, of which Halo is the largest shareholder. Halo has also acquired a range of software development assets, including CannPOS, Cannalift and CannaFeels, and a discrete sublingual dosing technology, Accudab. Halo intends to reorganize these entities (including their intellectual property and patent applications) into a subsidiary called Halo Tek Inc. and to complete the distribution of the shares of Halo Tek to shareholders on record at a date to be determined.

We seek Safe Harbor.