Halo Collective Inc. (“Halo” or the “Company”) (NEO: HALO) (OTCQB: HCANF) (Germany: A9KN) today announced the closing of the acquisition of Food Concepts LLC, the master tenant of an approximately 55,000 square foot indoor cannabis cultivation, processing, and wholesaling facility in Portland, Oregon operated under the Pistil Point name (the “Acquisition”), on the terms set out in the merger agreement previously announced on August 27, 2021.
Pursuant to the Acquisition, ANM Inc., Halo’s wholly-owned subsidiary (“ANM”), became the 100% owner of Food Concepts LLC, the master tenant of the Pistil Point facility, and the owner of the operating equipment and related tangible assets which it leases to the operating entities. The consideration payable by Halo for the acquisition of Food Concepts LLC was $8.2 million, payable in 258,156,500 Halo common shares.
