Halo Collective Provides Update on Triangle Canna

Ryan Allway

November 10th, 2021


Triangle Canna Plans $75 Million Reg-A+ Financing
Ryan Kunkel Named to Triangle Canna Board of Directors


All figures in USD unless stated otherwise

TORONTONov. 10, 2021 /CNW/ – Halo Collective Inc. (“Halo” or the “Company”) (NEO: HALO) (OTCQX: HCAND) (Germany: A9K0) today provided an update on Triangle Canna Corp. (“Triangle Canna” or “Triangle”). As previously announced in September 2020, the Company partnered with Green Matter Holding Inc. (“Green Matter”) to purchase 1,600 acres of farm property in Lake County, California (the “Farm”). The Farm is owned 50% by the Company’s wholly-owned indirect subsidiary, PSG Coastal Holdings LLC, and 50% by Green Matter. Triangle is the long-term leaseholder and planned licensed cannabis cultivator of the Farm. Halo and Green Matter each own 44% of the issued and outstanding shares of Triangle Canna, with additional 9% and 3% stakes held by Europa Group USA, LLC and Anil Beri, respectively.


“We are thrilled to be launching Triangle Canna after all the hard work our team has poured into this project over the past 17 months to turn our dream of a large-scale, quality focused farm in Northern California into a reality. We believe in this plant. It has been my life’s work. We aim to show the world that our genetics and growing techniques, which we have honed over 20 years, are the best in the world and can compete with any other cannabis company out there,” said Triangle Founder & CEO Jedediah Morris, “We know how to grow high-quality, retail-grade flower, and we know how to do it at a competitve cost.”


Continued Mr. Morris, “By harvest time for Trianglenext year, we expect the current oversupply in California should be diminished. Regardless, we expect the quality of our harvest will be strong and command premium pricing for flower at that time, subject to market and performance uncertainties. We are leveraging Q4 2021 and Q1 2022 to prepare for next year’s growing season, including forging bulk sourcing contracts on raw materials and aligning off take agreements with significant industry distribution partners.”



State and Local Licensing
As of today, Triangle Canna has in hand  271 provisional licenses from the California Department of Cannabis Control, the state regulator. Each license allows up to 10,000 square feet of canopy and implies state entitlements for 62.22 acres of canopy. Triangle is beginning the process of converting these to annual state licenses. Four additional licenses are in the process of being considered for annual licensure already, with a total of 275 licenses more to be converted. Additionally, the Farm has submitted an application to Lake County, California, for a local Major Use Permit to cultivate on the state approved acreage.


The local application contemplates two phases for build-out:

Phase 1

  • 63 A-Type 3 Medium Outdoor Cultivation Licenses (62.2 acres)
  • 1 A-Type 13 Self Distribution License

Phase 2 (Full Build-out):

  • 43 A-Type 3 Medium Outdoor Cultivation Licenses (42.7 acres)
  • 34 A-Type 3B Medium Mixed Light (Greenhouse) Cultivation Licenses (17 acres)
  • 1 Cannabis Processing License for a new 60,000 square foot facility


$75 Million Reg-A+ Financing
Now that Triangle Canna’s Form 1-A Offering Statement has been qualified by the U.S. Securities and Exchange Commission1, Triangle intends to complete a financing of up to $75 million at a $165 million pre-money valuation under Regulation A+ (the “Triangle Offering”). Currently, Triangle may offer its securities in 39 states and, by year end, plans to offer securities in at least 49 states. After the Triangle Offering is completed, Triangle also intends to pursue a listing of its class A common stock on a recognized North American stock. Halo has invested approximately $2 million to date pursuant to its initial equity investment of $44,000 and loans to Triangle, including under lines of credit with Halo with a maximum withdrawl of $2.1 million.


Learn more at: https://investintriangle.com


Board of Directors
Triangle has appointed Ryan Kunkel Halo’s Chairman of the Board and the Chief Executive Officer and Founder of Have a Heart to its board of directors. Mr. Kunkel is a leading industry expert and entrepreneur in cannabis, influencing its legal, regulatory, and operational development since the legalization of recreational marijuana use in Washington State in 2011. He was instrumental in the raise of $50 million for Have a Heart in two private offerings, which enabled him to expand the Have a Heart footprint by creating an organizational infrastructure to maintain the dispensary storefronts at a rapid pace. With a focus on operations, fundraising, and application development, Kunkel quickly expanded the brand to 13 operational stores in six different states with a total of 26 winning applications. Under his stewardship, the Have a Heart business grew to more than 500 active employees. His expertise in the industry enabled him to identify and capture the leading market share in Washington State, one of the most saturated cannabis markets in the U.S.


Mr. Kunkel’s professional accolades include being named to Marijuana Venture’s 40 under 40 in 2018, where he was recognized for his success and promise in the cannabis industry with Have a Heart’s track record and performance. He continued to build on this opening delivery and retail operations in five jurisdictions across California.


About Halo Collective Inc.

Halo is a leading, vertically integrated cannabis company that cultivates, extracts, manufactures, and distributes quality cannabis flower, oils, and concentrates and has sold approximately eleven million grams of oils and concentrates since inception. The Company continues to expand its business and scale efficiently, partnering with trustworthy leaders in the industry who value Halo’s operational expertise in bringing top-tier products to market.


Halo currently operates in the United States in Oregon and California. The Company sells cannabis products principally to dispensaries in the U.S. under its brands Hush, Mojave, and Exhale, and under license agreements with Papa’s Herb®, DNA Genetics, Terphogz, and FlowerShop*, a cannabis lifestyle and conceptual wellness brand that includes G-Eazy as a partner and key member.


As part of continued expansion and vertical integration in the U.S., Halo boasts several grow operations throughout Oregon and two planned in California. In Oregon, the Company has a combined 11 acres of owned and contracted outdoor and green house cultivation, including East Evans Creek, a six-acre grow site in Jackson County with four licenses owned and operated by Halo and two third-party licenses under contract to sell all of their product to Halo; Winberry Farms, a one-acre grow site located 30 miles outside of Eugene in Lane County with a license owned and operated by Halo; and William’s Wonder Farms, a three-acre grow site in Applegate Valley, under contract to sell all of its product to Halo pending the closing of Halo’s acquisition of its licenses and business assets. Halo has recently acquired Food Concepts LLC, a master tenant of a 55,000 sq.ft. indoor cannabis cultivation, processing, and wholesaling facility in Portland, Oregon operated by the Pistil Point entities.


In California, the Company is building out Ukiah Ventures, a planned 30,000 sq. ft. indoor cannabis grow and processing facility, which aims to include up to an additional five acres of industrial land to expand the site. Recently, Halo partnered with Green Matter in California to purchase the Farm in Lake County, developing up to 63 acres of cultivation, comprising one of the largest licensed single site grows in California. Halo also plans to expand its operations in California by opening three dispensaries under the Budega™ brand  in North HollywoodHollywood, and Westwood.


In Canada, Halo acquired three KushBar retail cannabis stores located in Alberta as a first in its planned entry into the Canadian market, leveraging its Oregon and California brands. With the KushBar retail stores as a foundation, the Company plans to expand its foothold in Canada.


Halo has also acquired a range of software development assets, including CannPOS, Cannalift, and, more recently, CannaFeels. In addition, Halo owns the discrete sublingual dosing technology, Accudab. The Company intends to spin-off these assets and its intellectual property and patent applications into its subsidiary Halo Tek Inc. and expects to complete a distribution to shareholders on a record date to be determined by Halo.


Halo has recently announced the sale of its non-U.S. operations into Akanda Corp., whose mission is to provide high-quality and ethically sourced medical cannabis products to patients worldwide. Akanda will seek to deliver on this promise while driving positive change in wellness, empowering individuals in Lesotho, and uplifting the quality of the lives of employees and the local communities where it operates, all while limiting its carbon footprint. Akanda combines the scaled production capabilities of Bophelo Bioscience & Wellness Pty. Ltd., a Lesotho-based cultivation and processing campus located in the world’s first Special Economic Zone (SEZ) containing a cannabis cultivation operation, with distribution and route-to-market efficiency of Canmart Ltd., UK-based fully approved pharmaceutical importer, and distributor that supplies pharmacies and clinics within the UK With a potential maximum licensed canopy area of 200 hectares (495 acres), Bophelo has scalability that is arguably unmatched in the world today. Following the sale, Halo is the largest shareholder of Akanda Corp.


For further information regarding Halo, see Halo’s disclosure documents on SEDAR at www.sedar.com


Connect with Halo Collective: Email | Website LinkedIn | Twitter | Instagram


About Green Matter

Green Matter was founded by the same pioneers that founded its sister company Humboldt Standard (I.G.: @Humbold_Standard). Green Matter has an enormous breadth of cultivation experience including access to a unique library of cannabis genetics carefully crafted year over year in Humboldt County, California. Humboldt Standard maintains a large a following on Instagram (32,000 followers), and is well-known in Northern California as an industry leader in the cannabis space.  After several years of operating a caregiver/coop model, in 2017 Humboldt Standard launched what was then the largest, licensed cultivation operation in California, known as The Mill, in Humboldt County, that totaled a then unprecedented 8.5 acres.


Humboldt Standard features award-winning strains that place it among the best-known and most recognized brands in the California market. Green Matter continues to grow each year, using the finest organic ingredients and artisanal practices to produce the look, taste, and THC content of the top-shelf cannabis for which they are known. Green Matter farmed and harvested twenty-eight acres of licensed THC cannabis in 2021, spread out over five separate farms in Northern California.


As an independent, family-run, Humboldt-based business, Green Matter maintains vital roots in the community, while accessing the broader California market through one of the largest distribution centers in the state, a 34,000 sq.ft. facility with 172,000 cubic feet of refrigerated space to store harvested flower. Green Matter believes that there is no other facility like it in all of California. Green Matter’s expertise extends beyond growing, drying, trimming, harvesting and packaging; it also operates both type 6 (non-volatile for distillate) and type 7 (volatile for wax and hash) extraction facilities.


Green Matter (and Humboldt Standard) founders, Jed Morris and Josiah Spohn, are also part-owners of Connected Cannabis, a highly-respected leader in the cannabis space (with 162,000 Instagram followers), that competes with Cookies in a rare echelon of companies known for their quality strains. This relationship provides Green Matter exposure to a large network of various cannabis companies throughout the state, further insuring the relevance and longevity of the company in California and worldwide. Green Matter also engages in international operations through its sister company Green Matter Global, which is currently engaged in the ambitious initiatives to found and operate the first legal cannabis and hemp farms in Thailand, and other Southeast Asia countries.


Cautionary Note Regarding Forward-Looking Information and Statements

This press release contains certain “forward-looking information” within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only Halo’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Halo’s control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur” or “will be achieved”. Forward-looking information may relate to anticipated events or results including, but not limited to the receipt by Triangle of a major use and other licenses in respect of operation at the Farm, the completion of the Triangle Offering and the terms thereof, the entering into by Triangle of bulk sourcing contracts and off take agreements, the anticpated phased build out of operations at the Farm, the proposed opening of dispensaries in California, the expected size and capabilities of the final facility planned at Ukiah Ventures, the size of Halo’s planned cultivation facility in Northern California, the ability of Bophelo and Canmart to serve the U.K. market, the proposed spin-off with Halo Tek Inc. and Halo’s proposed plans to re-organize its non-U.S. operations via Akanda Corp.


By identifying such information and statements in this manner, Halo is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from those expressed or implied by such information and statements. In addition, in connection with the forward-looking information and forward-looking statements contained in this press release, Halo has made certain assumptions. Although Halo believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. Among others, the key factors that could cause actual results to differ materially from those projected in the forward-looking information and statements are the following: the inability of management to successfully integrate the operations of the acquired businesses, changes in the consumer market for cannabis products, changes in the expected outcomes of the proposed changes to Halo’s operations, delays in obtaining required licenses or approvals necessary for the build-out of Oregon operations, the proposed spin-out with Halo Tek Inc. or the proposed re-organization with Akanda Corp., delays or unforeseen costs incurred in connection with construction, the ability of competitors to scale operations in Northern California, delays or unforeseen difficulties in connection with the cultivation and harvest of Halo’s raw material, changes in general economic, business and political conditions, including changes in the financial markets; and the other risks disclosed in the Company’s annual information form dated March 31, 2021 and other disclosure documents available on the Company’s


 profile at www.sedar.com.  Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected.


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 undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward-looking information and statements attributable to Halo or persons acting on its behalf is expressly qualified in its entirety by this notice.



This press release shall not constitute an offer to sell nor the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.



SOURCE Halo Collective Inc.

For further information: Halo Collective: Investor Relations, info@haloco.com, www.haloco.com/investors

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About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

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