Today Rich sits down with another CEO in the cannabis space; this time it’s Kiran Sidhu, CEO of Halo Labs (OCTQX:AGEEF).
Founded in Oregon in 2016, Halo Labs is a cannabis extraction company that develops and manufactures cannabis oils and concentrates.
Before his time with Halo Labs, Sidhu was previously the founder and CEO of Transact Network as well as the CFO of On Stage Entertainment. He is a graduate of AB Brown University and received an MBA from the Wharton University of Pennsylvania.
Sidhu talks with Rich about his company’s growing production capacity, its move into South Africa, and its potential for investors.
Halo Labs Offers Considerable, and Growing, Production
As Sidhu explains, Halo currently operates in three states: California, Nevada, and Oregon. In these regions alone, the company has produced more than 4 million grams of cannabis oil and concentrates since inception.
“Every month, 50,000 people use our products,” he says. “That equates to somewhere between three-and-a-half and four servings a month.”
In California alone, Halo Labs is currently producing nearly 100 liters of high-grade distillate every week. To put that number into context, 100 liters of distillate is roughly what the country of Germany consumed last year. Halo is also currently doubling its production capacity amidst exceptionally high demand for its products.
Halo Buys Cultivation Space in Lesotho
Lesotho, a landlocked kingdom surrounded by South Africa, became one of the first African nations to legalize medical marijuana in 2017. This immediately drew Halo’s attention to the country.
“Out of all the places we’ve looked in the world—be it Columbia, Cambodia, etc—Lesotho is the best positioned place on the planet right now to grow cannabis cost-effectively in a perfect climate with a great regulatory environment,” explains Sidhu.
Every year, Lesotho sees more than 300 days of sunshine. It also enjoys low humidity, pristine water, and an educated workforce. These ideal conditions have not only drawn Halo to the area, major players like Canopy Growth Corporation (TSX:WEED) (NYSE:CGC) and Supreme Cannabis Company (TSX:FIRE) (OTCQX:SPRWF) (FRA: 53S1) have also invested in Lesotho as a cannabis cultivation location.
“We’re in great company,” says Sidhu. “The difference in our strategy … is that we’re growing cannabis that yields high CBD—twice as much as any other industrial hemp strain—and we’ll have such low costs that we’ll be able to grow and sell CBD oil that is very high quality at almost half the cost at which it is now sold on the market worldwide.”
Is Now the Time to Invest in Halo Labs?
As RichTV community members know, this summer has been rough for the cannabis sector. Companies across the space have been in the red, and Halo is no different. From a 52-week high of $0.68, Halo has slowly dropped to $0.30, where it sits today. But with announcements of significant earnings on the way, Sidhu expects Halo’s share price to increase in the immediate future.
“Our first quarter was a record first quarter,” he explains. “We were the third highest growing, publicly traded US cannabis company with 300 percent year-over-year growth. And there’s nothing in our future right now that doesn’t indicate to us that that growth will continue. So we’re very positive on future growth.”
What do you think? Does Halo Labs look like a good investment? Are there other companies you want Rich to profile or reach out to for interviews? Let us know in the comments below.
If you liked this video, make sure to check out Rich’s other interviews with Patriot One Technologies Inc. (TSX:PAT) (OTCQX:PTOTF) CEO Martin Cronin and AgraFlora Organics International Inc (CSE:AGRA) (OTCPK:PUFXF) Strategic Adviser Lucas Birdsall.
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