Halo Collective Inc. (“Halo” or the “Company“) (NEO: HALO) (OTCQX: HCANF formerly AGEEF) (Germany: A9KN) is pleased to announce further imports of Cannabis-Based Products for Medicinal use (“CBPMs”) to the United Kingdom via the Company’s wholly-owned subsidiary Canmart Ltd (“Canmart”). While Canmart had previously imported tincture originating in the European Union (“EU”), its importation program has now expanded to flower products from Canada. Following the Company’s acquisition of Canmart in November 2020, Halo is executing on its plan to import an assortment of CBPMs to qualified UK patients in search of high-quality medical cannabis.
According to Prohibition Partners, the UK population consumes one of the greatest amounts of cannabis per capita in the world, with an estimated 4.7 million cannabis users out of a total general population of 66.4 million. While the number of people in the UK who use cannabis to treat chronic health conditions is only 1.4 million, the legal use of medical cannabis is still in its relative infancy. By 2024, the UK medical cannabis market is predicted to be worth nearly £1bn (US$1.3bn), servicing more than 400,000 active patients and, with further regulatory expansion, qualified patients could reach four million during the same time period.
In 2020 Halo’s wholly-owned subsidiary Bophelo Bioscience & Wellness (Pty) Ltd. (“Bophelo”) formally commenced the certification process required to achieve European Good Agricultural and Collection Practices (“EU GACP”). This certification would allow Halo, through Malta and then via Canmart, to distribute Certified Good Manufacturing Practices (“cGMP”) grade cannabis flower and oils throughout the UK and the EU. The Company expects to achieve this certification in Q2 2021 as COVID restrictions have finally abated in Lesotho. Andreas Met, Halo’s Co-Founder and Head of International commented, “I relocated to Lesotho to oversee Bophelo operations. Before our hands were tied due to COVID, but now all the pieces are coming together like a puzzle. Halo efforts going into Lesotho are having a visible impact and showing significant progress.”
