Halo Collective Announces Reorganization of International Assets to Create Akanda, a Leading African Medical Cannabis Company

CANNANNEW REPORT

Tej Virk to Lead Akanda as CEO, Louisa Mojela to Serve as Executive Chairman TORONTO, June 22, 2021 /CNW/ – Halo Collective Inc. (“Halo”) (NEO: HALO) (OTCQX: HCANF) (Germany: A9KN), a vertically integrated multinational cannabis company, today announced that its board of directors has unanimously approved the reorganization (the “International Reorganization”) of its non-U.S. operations, Bophelo Bioscience & Wellness Pty. Ltd. (“Bophelo”) and Canmart Ltd. (“Canmart”), into a newly formed Alberta corporation called Akanda Corp. (“Akanda”). Akanda will be led by accomplished cannabis and corporate finance and banking industry executive Tej Virk. Halo Collective announces reorganization of international assets to create Akanda, a leading African medical cannabis company (CNW Group/Halo Collective Inc.) Akanda will combine the scaled production capabilities of Bophelo, Halo’s Lesotho-based cultivation and processing campus, located in the world’s first Special Economic Zone (SEZ) containing a cannabis growth operation, with distribution and route-to-market through Canmart, Halo’s UK-based fully approved pharmaceutical importer and distributor which supplies pharmacies and clinics within the UK. With a potential maximum licensed canopy area of 200 hectares, Bophelo has scalability that is arguably unmatched in the world today.   “The separation of Halo’s U.S. and international businesses through the formation of Akanda is the right initial step to capitalize on the significant growth opportunities in global cannabis markets and to unlock significant unrealized value for all of Halo’s stakeholders,” said Kiran Sidhu, CEO and Co-Founder of Halo. “Akanda, with a unique strategy and scaled assets, will be positioned to be the low cost supplier of high quality and ethically sourced medical cannabis products to the fast-growing African, UK, European, and other international markets. I am excited to support Tej and Louisa as they build Akanda into a world-class company, leveraging Halo’s trusted cannabis brands, technology, and know-how.”   Tej Virk will join Akanda as CEO from Khiron Life Sciences (TSX-V: KHRN) (OTC: KHRNF) (“Khiron”), where…

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Source : Halo Collective Announces Reorganization of International Assets to Create Akanda, a Leading African Medical Cannabis Company

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