Halo Collective Inc. (NEO: HALO) (OTCQB: HCANF), which holds a 44% stake in Akanda Corp. is benefiting from the new IPO. Better, Akanda has plans to target the global medical cannabis market, which could be worth about $47 billion by 2027. That alone could give Halo Collective a unique opportunity, as well. “Becoming the first UK cannabis company with African operations to list on the Nasdaq is an important milestone for our Company and the industry," said Tej Virk, Chief Executive Officer of Akanda. "Now, with new capital and increasing patient access across the UK and Europe, we believe Akanda is well-positioned to continue on its mission of helping people lead better lives through high-quality and affordable products. We are building a unique seed-to-patient model, focused on growing, moving and healing, with a foundation rooted in what we view as strong ethics and business practices." In addition to Akanda Corp. and Halo Collective, the news has been positive for Canopy Growth (TSX:WEED)(NASDAQ:CGC), Tilray Inc. (NASDAQ:TLRY) (TSX:TLRY), and OrganiGram Holdings (NASDAQ:OGI)(TSX:OGI), as well.
Here's More Information on the IPO from Halo Collective.
Halo Collective Inc. congratulated Akanda Corp., an international medical cannabis company in which Halo is the largest shareholder, on its successful first day of trading on The Nasdaq Capital Market. Akanda’s common shares began trading today, March 15, under the ticker symbol “AKAN,” and closed normal trading on March 15, 2022, at $10.50 with a high of $31.00 and a low of $8.18 on volume of 1,356,331 shares. Halo is Akanda’s largest shareholder owning 12,674,957 common shares of Akanda.
Halo agreed to enter into a lock-up agreement with Akanda and Boustead Securities LLC, pursuant to which Halo shall not offer, issue, sell, contract to sell, encumber, grant any option for the sale of, or otherwise dispose of, any of our securities for a period of 270 days from the date on which the trading of our Common Shares on Nasdaq commences (the “Lock-Up Trigger Date”), subject to customary carve-outs. The lock-up agreement will permit that up to 50% of our securities held by Halo may be sold or transferred from the 271st day through the 365th day following the Lock-Up Trigger Date, and the remaining 50% of such securities may be sold or transferred without the lock-up restrictions beginning on the 366th day following the Lock-Up Trigger Date. The lock-up restrictions shall not prohibit Halo from selling or transferring such number of our Common Shares to comply with the Ownership Limitation.
Other related developments from around the markets include:
Canopy Growth announced their participation in Natural Products Expo West 2022. Serving as a Silver Sponsor of the Expo, Canopy Growth’s CBD brands, including Martha Stewart CBD and Quatreau, will be on display from March 8-12 in Anaheim, CA. Canopy Growth will also host an industry panel at the show on Thursday, March 10 titled Cannabis Evolution: The Latest Innovations and Trends in CBD and Wellness. With consumers increasingly reaching for CBD products to support wellness, show attendees are invited to join Sol Clahane, Vice President and General Manager for the U.S. Region at Canopy Growth, CJ Rapp, CEO of Karma Culture, the manufacturer of Karma CBD Water, and Jonathan Small, Editor-in-Chief of Green Entrepreneur, for a lively conversation that unpacks CBD wellness trends and highlights innovations powering the CBD space.
Tilray Inc. announced proposed agreements for a commercial and financial partnership with HEXO Corp. that would bring together Canada’s top two cannabis market share leaders, strengthening their respective positions and setting the stage for increased production efficiencies amid competitive market dynamics. Under the terms of the proposed agreement, Tilray Brands would acquire up to US$211 million of senior secured convertible notes that were issued by HEXO and are currently held by funds affiliated with HT Investments MA LLC. The Notes would be amended to permit Tilray Brands to exercise conversion rights at a price of C$0.90 per HEXO Share and acquire a significant equity ownership position in HEXO, driving meaningful, additional upside and direct participation in HEXO’s considerable growth opportunities.
OrganiGram Holdings announced its results for the first quarter ended November 30, 2021. “Our record-breaking results in the first quarter of Fiscal 2022 are a testament to our successful strategy to create innovative, high-quality products that align with the evolving preferences of the various segments of cannabis consumers,” said Beena Goldenberg. “Our positive outlook for 2022 is further bolstered by the addition of Laurentian’s premium products to our portfolio, with an increased presence in Quebec and the resumption of international sales, which will continue through the year.”
Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Halo Collective Inc. has paid three thousand five hundred dollars for advertising and marketing services to be distributed by Winning Media. Winning Media is only compensated for its services in the form of cash-based compensation. Winning Media owns ZERO shares of Halo Collective Inc. Click here for disclaimer.
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