TORONTO–(BUSINESS WIRE)–Halo Labs Inc. (“Halo” or the “Company”) (NEO: HALO, OTCQX: AGEEF, Germany: A9KN) is pleased to announce that former Chief Strategy Officer, Katharyn M. Field, has been promoted to President of Halo effective February 12, 2020. Ms. Field has been a critical member of the Halo team since April 2019. Halo also expects Louisa Mojela to be appointed to Chair of the Board upon the closing of Halo’s proposed acquisition of Bophelo Bioscience (“Bophelo”).
Ms. Field is a strategy consultant and executive with a career spanning both the private and public sectors. Ms. Field’s resume includes notable companies and institutions such as The White House, The Brookings Institution, and Bain & Company. In 2014 she entered the cannabis industry and led the procurement, build out, and sale of one of five original vertically integrated state licenses in Florida. Subsequently, Ms. Field operated a strategy consulting practice focused on cannabis and also spent time at MariMed in 2018 as Executive Vice President of Corporate Development. She holds an MBA from Columbia Business School and a BA with honors from Stanford University.
Katie Field, President of Halo, comments, “I am honored to be promoted to President of Halo during such an exciting time in the Company’s development. With our growth both in the US as well as internationally, Halo is poised to become a cannabis conglomerate with a global footprint. There is no better time to be leading the Company in a more prominent role as the expansion continues.”
Additionally, Halo expects to appoint Ms. Mojela to Chair of Halo’s board of directors, replacing Fred Leigh who will remain as an independent director. Ms. Mojela successfully founded and listed Women Investment Portfolio Holding Limited on the Johannesburg Stock Exchange that has grown to be worth over USD $250M today. She has led capital raises and held directorships at companies such as Sasol Mining (NYSE: SSL), Ixia Coal, South African Airways, Ericsson SA, Adcorp (SJ: ADR), and Sun International (SJ: SUI) amongst others.
With Ms. Field and Ms. Mojela serving in senior leadership capacities at Halo, the Company will have one of the most diverse leadership teams in the cannabis industry. As a whole, the cannabis industry is largely lacking diversity in leadership positions. According to Marijuana Business Daily, less than 30% of executives in the Cannabis industry are women and less than 20% are minorities. Studies conducted by McKinsey & Company also show that companies with diverse executive teams are 21% more likely to experience above-average profits. In a growing corporate climate where diversity is becoming more critical, Halo is leading the forefront in the cannabis industry.
Kiran Sidhu, CEO and Co-Founder of Halo, comments, “I am pleased that Ms. Field will serve as our first President. Also, the planned appointment of Ms. Mojela to Chair will be a historic step as the first African woman to serve as Chair of a publicly traded cannabis company. With the anticipated closing of Bophelo on the horizon, we look forward to having Ms. Mojela join our team and grow with Ms. Field serving as Halo’s President.”
Bophelo Bio Science Update
In Lesotho, Africa, the initial harvest at Bophelo has begun. There are currently 350 cannabis plants that are currently flowering and being harvested with more than 1,000 additional plants still in the production cycle. Bophelo operations are progressing with Co-Founder and COO of Halo Labs, Andreas Met, currently facilitating the processes in Lesotho and working towards obtaining European Union Good Agriculture and Collection Practices certifications. The Company is anticipating closing the Bophelo acquisition shortly.
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”. The forward-looking information and forward-looking statements contained herein may include, but is not limited to, statements regarding the appointment of Louisa Mojela to Chair and the closing of the Company’s proposed acquisition of Bophelo.
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.
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