TORONTO, Ontario–(Newsfile Corp. – January 27, 2023) – Halo Collective Inc. (NEO: HALO) (OTCQB: HCANF) (FSE: A9K0) (“Halo” or “Company”) Vertically Integrated Cannabis Company is pleased to report preliminary unaudited earnings figures for its California operations. Retail sales increased 16.8% in the last quarter.[1]We’ve made progress with our Budega™ VIP program and our new location in Hollywood due to open this year. The company is evaluating new sales and marketing initiatives through a series of California-wide pop-ups that will serve as a prerequisite for the continued expansion of the Budega™ retail chain testing demand in various regions of the state.
The company continues to grow revenue quarter by quarter in the retail sector of its California operations, contributing more than $1.4 million to 2022 top-line revenue.[2]The company expects retail store revenues to continue to grow after launching new marketing initiatives and is poised for additional revenue streams from a third pharmacy location opening later this year. BDSA predicts that U.S. recreational and medical cannabis will reach $46 billion by 2026, with California still the largest market, accounting for 50% of legal sales. occupies more than[3]According to another estimate, legal retail sales in the US will rise to $52.6 billion by 2026.[4] Capacity is declining statewide[5] Bigger player exits[6]we believe our operations in California will continue to deliver results in the years to come.
The following initiatives were launched in a series of marketing efforts to increase top-line revenue.
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The Budega™ VIP program is available at all Budega™ stores to allow customers to participate in the loyalty points program. Special membership programs include discounted rates for high-value customers and integrate software programs that enable efficient tracking of customer purchases. We access purchase data and adjust promotional targeting accordingly.
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A guerrilla marketing approach with a series of pop-ups across California. This incentive will serve as a prerequisite for the continued expansion of the Budega™ retail chain, testing demand in different regions of the state while generating additional revenue.
The company has been discussing innovative ways to connect with the community. Pop-up shops have grown in recent years, with many brands opening short-term retail outlets in cities around the world. In the modern experience economy, creating environments where customers can touch, see, and smell things creates memorable experiences. Hands-on experience with curated inventory, rather than just browsing racks or browsing items online, can help items stand out in the minds of shoppers. The fact that it can only be seen on the day gives the product a sense of urgency and exclusivity, which is very attractive to customers.[7] Halo is in talks to acquire multiple event-based cannabis licenses and launch a series of pop-ups across California. This will allow us to test market acceptance in high traffic areas and communities in preparation for our retail expansion plans.
“California’s cannabis market continues to serve a legal recreational consumer base, and Halo intends to keep abreast of the state’s evolving market trends. , continues to evaluate the effectiveness of the proposed pop-up incentives.Budega™ retail sales growth has proven strong since its initial launch, and as it expands to new locations, this segment of the company continues to top the list. We look forward to contributing to the line’s sales,” commented Halo Collective Chairman and CEO Katie Field. .
We have a state retail license for our Hollywood location, are taking the necessary steps to build, and are building for our new opening.
About the Halo Collective
Halo is focused on the West Coast of the United States and has vertically integrated operations that cover the entire value chain from seed to sales. Halo grows, extracts, manufactures and sells high quality cannabis flowers, pre-rolls, vape carts, foods and concentrates. Halo markets these products under a portfolio of brands that includes Hush™, Winberry Farms™, his retail brand Budega™, and a license agreement with FlowerShop*. In addition, Halo has two clinics in Los Angeles under his Budega™ brand in North Hollywood and Hollywood, and in 2023 he plans to open another in Hollywood.
In the non-THC sector, Halo is expanding into health and wellness categories that include CBD and functional supplements. Through a series of acquisitions, Halo offers products in the form of beverages (H2C Beverages) and dissolvable strips (Dissolve Medical).
Halo has successfully acquired and integrated various companies, which have since been reorganized to form Akanda Corp. (NASDAQ: AKAN), an international medical cannabis and wellness company in which Halo is the largest shareholder. Halo has also acquired various software development assets, including CannPOS, Cannalift, CannaFeels, and his Accudab, a discrete sublingual dosing technology. Halo will reorganize these entities (including intellectual property and patent filings) into a subsidiary, Halo Tek Inc., and complete the distribution of Halo Tek Inc. stock to shareholders of record by the date of determination. It’s a schedule.
For more information about Halo, see Halo’s Disclosure Document for SEDAR at www.sedar.com.
Connect with Halo Collective: Email | Website | LinkedIn | Twitter | Instagram
contact address
Hello Collective Co., Ltd.
Investor information
info@haloco.com
www.haloco.com/investors
For more information, please contact Marshall Minor, our Interim Chief Financial Officer at (541) 646-5694 or marshall@haloco.com
Cautionary Note Regarding Forward-Looking Information and Statements
This press release contains certain “forward-looking information” within the meaning of applicable Canadian securities laws and “forward-looking information” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act. It may also contain statements that may constitute “descriptions about Such forward-looking information and forward-looking statements do not represent historical facts, information, or current circumstances, but only Halo’s beliefs regarding future events, plans, or objectives, many of which is inherently uncertain by its nature. Out of Halo’s control. Generally, such forward-looking information or forward-looking statements may not include words such as “planned,” “anticipated,” “anticipated,” “anticipated,” “budgeted,” or “projected.” Identifiable using forward-looking terms. , “estimate”, “predict”, “intend”, “expect”, “unexpected”, or “believe”, or variations of such words or phrases, or any particular action, event, or outcome may include the statement “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur” or “will occur”. Forward-looking information includes, but is not limited to, expectations regarding improved performance, management’s plans for the Pistil Point and California markets, plans for streamlining business segments, and management’s plans and intentions for its portfolio of cannabis businesses. , may relate to anticipated events or outcomes. Expanding into health and wellness, a proposed distribution agreement with SWAY Energy Corporation, the expected opening date of our California pharmacy, and a proposed spin-off by Halo Tek Inc.
By so identifying such information and statements, Halo warrants to the reader that such information and statements involve known and unknown risks, uncertainties and actual outcomes expressed or implied by such information. It warns that you are subject to other factors that may cause it to differ materially from what is stated. and statement. In addition, Halo makes certain assumptions in connection with the forward-looking information and forward-looking statements contained in this press release. Halo believes that the assumptions and factors used in preparing the forward-looking information and statements, and the expectations contained therein, are reasonable, but Halo does not place undue reliance on such information and statements. please Forward-looking information and statements are certified to be accurate as actual results or future events could differ materially from those anticipated by such information and statements. The key factors that could cause, among other things, actual results to differ materially from those projected by the forward-looking information and statements are: changes in the expected results of any proposed changes to Halo’s business; delays in obtaining necessary licenses or approvals required to build its Oregon business, clinic or Canadian business; the general economy, including spin-outs, delays or unexpected costs in construction, the ability of competitors to expand their operations in Northern California, delays or unforeseen difficulties associated with growing and harvesting Halo’s raw materials, and changes in financial markets; arising in connection with changes in , business and political circumstances; Other risks disclosed in the company’s Annual Information Form dated March 31, 2022 and other disclosure documents available in the company’s profile at www.sedar.com. If one or more of these risks, uncertainties or other factors materializes, or if the assumptions underlying any forward-looking information or statements prove incorrect, actual results may differ from those intended. , plans, projections, beliefs, estimates or projections may differ materially from those set forth herein. .
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 make any forward-looking statements contained or referenced. and/or make no commitment to update any forward-looking statements. except in accordance with applicable securities laws. All subsequent written and oral forward-looking information and statements made by Halo or persons acting on behalf of Halo are expressly qualified in their entirety by this notice.
Prohibition of solicitation
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities described herein, nor does any such offer, solicitation or sale be illegal in any state or jurisdiction. No securities are sold. prior to registration or qualification under the securities laws of such state or jurisdiction;
[1] The 16.8% percentage is calculated based on preliminary unaudited revenue figures.
[2] Revenue of $1.4 million is calculated based on preliminary unaudited revenue figures.
[3] https://bdsa.com/wp-content/uploads/2022/05/BDSA_Cannabis-by-the-Numbers_Beer-Marketers-Insights-Presentation_May-2022-1.pdf
[4] https://mjbizdaily.com/marijuana-industry-will-add-nearly-100-billion-to-us-economy-in-2022/
[5] https://mjbizdaily.com/cannabis-growers-exit-california-market-helping-stabilize-prices/
[6] https://www.newcannabisventures.com/curaleaf-exits-three-western-states/
[7]https://www.forbes.com/sites/blakemorgan/2019/06/03/pop-ups-are-an-adrenaline-shot-for-retail/?sh=2263a9396e65
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/152743.
