Halo Labs (NEO: HALO) (OTCQX:AGEEF) has long been one of Rich’s favorite stocks to watch. When he first profiled the company, it was positioning itself for cannabis cultivation in sunny Lesotho, near South Africa.
Since then, the company has been hard at work expanding into northern California. Throughout it all, the company’s CEO, Kiran Sidhu, has been on hand to discuss with Rich what makes Halo Labs such an attractive investment opportunity.
Today, he is back on RichTV once again. Kiran and Rich go over the company’s big news and break down how it will affect AGEEF’s long-term value.
Halo Labs Makes a Series of Smart Acquisitions
Halo released a flurry of acquisitions in early March that will help solidify the company as a major cannabis supplier on the West Coast.
First, it signed a definitive agreement to acquire a controlling interest in a North Hollywood cannabis dispensary applicant. This helps positions the company in Los Angeles, one of the most lucrative cannabis markets in North America.
Next, Halo Labs announced it is acquiring Cannalift Delivery Inc. Cannalift is developing an application to introduce a new and convenient method for obtaining cannabis products. Once it’s up and running, the app will help deliver products from local dispensaries to consumers.
Finally, Halo finalized its deal to acquire Crimson & Black, a retail management accompany. Crimson & Black will provide management services to the cannabis dispensary in North Hollywood once that acquisition is complete.
All acquisitions are being paid through common shares of Halo. Sidhu says the deals help his company in its seed to sale vertical integration push. This means Halo won’t be dependent on other companies to cultivate, process, or retail cannabis.
AGEEF’s Performance and Position
Halo has always been a penny cannabis stock, but it currently sits at $0.067. This all-time low price represents a definitive opportunity for cannabis stock watchers. A vertically integrated cannabis company priced so low is hard to come by.
To ensure that it has the working capital to finish its current operational push, Halo Labs announced last week it will be offering a non-brokered private placement of convertible debentures. This offering will lead to aggregate gross proceeds of up to C$3 million.
There may never be a better time to get a position in Halo. So, if this seems to you like a cannabis stock with serious potential, watch AGEEF closely.
And keep watching RichTV Live for more stock news and analysis.
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