Mr. Kiran Sidhu reports
HALO LABS ANNOUNCES DISPENSARY SALES FOR THE MONTH OF OCTOBER
Halo Labs Inc. had dispensary sales of approximately
$1.23-million (U.S.) for October, 2018. This is an increase of approximately $353,000 (U.S.) over September, 2018. Approximately $245,000 (U.S.) of the
dispensary sales in October were derived from the company's first full
month of sales to dispensaries in Nevada.
Summary of record dispensary sales:
Dispensary sales for Halo in the month of October, 2018, were $1.23-million (U.S.),
representing a 40-per-cent increase over last month and a 49-per-cent increase over
Nevada operations contributed well in first full month, generating
approximately $245,000 (U.S.) in sale.
In the month of October, 2018, Halo saw steady growth in dispensary sales
of approximately $1.0-million (U.S.) in Oregon, up from $855,000 (U.S.) in September, 2018.
Halo also sold products to 11 out of Nevada's 65 dispensaries in the
first full month of its Nevada operations which provided the company
with additional dispensary sales of approximately $250,000 (U.S.). Halo's
international financial reporting standards revenues for the periods noted in this news release will be higher as they include
wholesale revenue to a manufacturing partner, but the company considers
that measure to have a degree of double counting and the board prefers
to be more conservative in its disclosure.
"The past few months have been transformative for the company.
Completing our public listing provided us with the capital that has
allowed us to expand into Nevada and California, where we will continue
to utilize our knowledge and expertise to rapidly scale. Conditions in
Oregon continue to improve," said Kiran Sidhu, Halo's chief executive
officer. "The company has quickly moved from a single-state operation to
a multistate operator in the United States."
About Halo Labs Inc.
Halo Labs is a cannabis extraction company that develops and manufactures quality cannabis oils and concentrates, which are the fastest-growing segments in the cannabis industry. Founded in Oregon in 2016, Halo has expertise in all major cannabis manufacturing processes, leveraging proprietary processes and products, and has produced over 2.5 million grams of oils and concentrates since inception. The forward-thinking company is led by a strong management team with deep industry knowledge and blue-chip experience. The company is currently expanding its operations with new facilities in Nevada and California.
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