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Halo begins Pistil facility design assessment

2022-11-25 09:11 ET - News Release

Ms. Katie Field reports

HALO COLLECTIVE COMMENCES INITIAL STEPS TO INCREASE PRODUCTION TO MAX CAPACITY AT ITS OREGON FACILITY

Halo Collective Inc. has begun initial steps to increase production to max capacity at its Pistil Point Oregon facility. The steps include a comprehensive assessment and analysis of the current facility design, operations and workflow complete with a three-phase proposal. By implementing the proposed changes, the facility would increase production and streamline workflow, resulting in modernized and automated processes. The company looks to solidify additional production capacity plans gearing up for sales expansion in Oregon.

The external group providing the audit and proposal has over three decades of cannabis facility design, operations management and construction experience, delivering world-class design concept tailored specifically to the company's objectives. The proposal has been developed over months of hands-on work alongside the facility management, in order to fully understand the need and project constraints.

System design elements that are being evaluated include but are not limited to benches; lighting; fans; HVAC and dehumidifiers; environmental controls; irrigation and fertigation; DPS insulated panels; workflow; and output capacities. The new layout developed and being assessed would allow new genetics to ramp up and new harvests to be back filled quickly in the event of a loss downstream in production. The new layout would implement automated tables to maximize canopy per room. With increased square footage and an optimized environment, the company would expect to achieve 2.5 to three pounds (lb) of product per light.

The current indoor footprint allows a max production space of 10,000 square feet of which 6,000 square feet is currently being utilized. The company has been discussing expansion of the facility since earlier this year and has made significant progress by completing the comprehensive audit and assessing the proposal. The new innovation aligns with the company's current strategic plans to increase market share within the retail cannabis market. The company is currently assessing the best return on investment for any capital spend on these operational components.

Katie Field, chairman and chief executive officer of Halo Collective, commented: "Halo has focused on being a vertically integrated company and consummating our indoor cultivation capability is the next step to strategic growth. Halo is proud to be a leader in the space, as licences and capital investment make the cannabis space increasingly more competitive. We believe our vertically integrated capabilities, born in Oregon and developed on the West Coast, constitute an optimal platform for future expansion when federal law permits."

Ms. Field continued: "We have been actively working to mitigate costs, create efficiencies and right size production to meet demands. We anticipate fostering potential automation to help control overhead and fine tune profitability. We have focused our grow and cultivation on top-selling strains while continuing to produce and test the markets with new strains in smaller batches. By refining the facility layout, we will be able to meet new increased demands and further improve quality."

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.

We seek Safe Harbor.

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