Red Light Holland and Halo Labs Announce Intention to Enter Oregon Medicinal Psilocybin Market


Ryan Allway

November 20th, 2020

Psychedelics, Top News


TORONTONov. 19, 2020 /CNW/ – Halo Labs Inc. (“Halo“) (NEO: HALO) (OTC: AGEEF) (Germany: A9KN) and Red Light Holland Corp. (CSE: TRIP) (FSE: 4YX) (OTC: TRUFF) (“Red Light Holland“) are pleased to announce they have entered into a non-binding letter of intent for the purposes of creating a joint venture to become a licensed psilocybin manufacturer to supply psilocybin products to licensed service centers in the State of Oregon, and to explore other potential business opportunities in this new regulated market, subject to compliance with all applicable Oregon laws and regulations.

“Clearly, we are very excited with the recent results of Oregon Measure 109 where progressive Oregonians have voted in favor of becoming the first state in the US, to allow the use of psilocybin, for therapeutic use. We take pride at Red Light Holland in our self-regulated responsible adult use psilocybin legal product (iMicrodose packs in the Netherlands), which we feel could become a model for the development of psilocybin products for the Oregon regulated market to be used to potentially treat chronic mental health issues like anxiety, depression, and addiction” said Red Light Holland CEO and Director Todd Shapiro. “We are aware that these are early days for the Oregon psilocybin market, we cannot make medical claims, and the path ahead is still a long one as the Oregon Health Authority still has to create a state-licensed, psilocybin-assisted therapy program over the next two years. This is exactly why we have entered into a non-binding LOI with Halo Labs, as CEO Kiran Sidhu and his team have deep regulatory experience and relationships with Oregon lawmakers and state officials, having founded Halo Labs, a successful vertically integrated cannabis company that started in the State of Oregon and now operates in multiple US states, Africa and in the UK” added Shapiro.

“We believe we are in a great position to work closely with Oregon regulatory authorities with respect to the implementation of Measure 109 and the development of Oregon’s regulatory psilocybin regime,” said Kiran Sidhu, CEO of Halo. “We are delighted to be working with Todd Shapiro and the team at Red Light Holland, as they have the experience, know-how and the right viewpoint with their educational, informational, innovative, and careful perspective on access to psilocybin. We are looking forward to taking the next steps in second half of  2021 in this emerging market together.  We remain exclusively focused on cannabis in Oregon and see medical psilocybin as a longer term opportunity.”

Further details of the proposed joint venture will be announced once available and as the contours of the Oregon regulated market begin to take shape.

About Halo Labs

Halo is a leading, vertically-integrated cannabis company that cultivates, extracts, manufactures and distributes quality cannabis flower, oils, and concentrates, and has sold approximately six million grams of oils and concentrates since inception. Halo continues to scale efficiently, partnering with trustworthy leaders in the industry, who value their operational expertise in bringing top-tier products to market. Current growth includes expansion in key markets in the United States, United Kingdom and Africa, with planned geographic expansion into Canadian markets. With a consumer-centric focus, Halo markets value-driven, branded, and private-label products across multiple product categories. The Company also has acquired a range software development assets, such as the technology platforms CannPOS, Cannalift, and more recently signed a deal to acquire CannaFeels. Halo also owns the inhalation technology, Accudab.

Halo is led by a strong, diverse and innovative management team, with deep industry knowledge and blue-chip experience. The Company is currently operating in the United States throughout California, Oregon, and Nevada. Notably, The Company has signed a definitive agreement to acquire Winberry Farms which provides another acre of cultivation to add to the existing 6 acres Halo already owns and/or manages in Oregon, which further solidifies the Company’s supply chain and increases its variety of cannabis strains.  Internationally, the Company is currently cultivating cannabis at Bophelo Bioscience & Wellness (Pty) Ltd, in Lesotho  and has acquired CBPM importation and distribution licensing in the United Kingdom via cannabis supplier, Canmart.

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

About Red Light Holland Corp.

Red Light Holland is an Ontario-based corporation positioning itself to engage in the production, growth and sale (through existing Smart Shops operators and an advanced e-commerce platform) of a premium brand of magic truffles to the legal market within the Netherlands, in accordance with the highest standards, in compliance with all applicable laws.

Cautionary Note Regarding Forward-Looking Information and Statements

Neither the Canadian Securities Exchange (the “CSE”) nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

This press release contains certain “forward-looking information” within the meaning of applicable Canadian securities legislation. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Red Light Holland and 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”. The forward-looking information and forward- looking statements contained herein include, but are not limited to, information the timing and other aspects of the non-binding letter of intent with Halo Labs, and the proposed joint venture. Although each of Red Light Holland and 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. In particular, there is no guarantee that the joint venture with will proceed, or if it does proceed it will reflect the understanding of the parties as of the date of this release. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company 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.

SOURCE Halo Labs Inc.

For further information: For additional information on Red Light Holland: Todd Shapiro, Chief Executive Officer & Director, Tel: 647-204-7129, Email: todd@redlighttruffles.com, Website: https://redlighttruffles.com/; For additional information on Halo Labs: Halo Labs, Investor Relations, info@halocanna.com

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

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.


Network Partners

Follow Us on Social Media

About CFN Media Group

CFN Enterprises Inc. (OTCQB: CNFN) owns and operates CFN Media Group, the premier agency and financial media network reaching executives, entrepreneurs and consumers worldwide. Through its proprietary content creation, video library, and distribution via www.CannabisFN.com, CFN has built an extensive database of cannabis interest, assisting many of the world’s largest cannabis firms and CBD brands to build awareness and thrive. For more information, please visit www.cfnenterprisesinc.com.

Disclaimer: Matters discussed on this website contain 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. CFN Media Group, which owns CannabisFN, 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. CFN Media Group, which owns CannabisFN, may from time-to-time have a position in the securities mentioned herein and will increase or decrease such positions without notice. The Information contains forward-looking statements, i.e. statements or discussions that constitute predictions, expectations, beliefs, plans, estimates, or projections as indicated by such words as "expects", "will", "anticipates", and "estimates"; therefore, you should proceed with extreme caution in relying upon such statements and conduct a full investigation of the Information and the Profiled Issuer as well as any such forward-looking statements. Any forward looking statements we make in the Information are limited to the time period in which they are made, and we do not undertake to update forward looking statements that may change at any time; The Information is presented only as a brief "snapshot" of the Profiled Issuer and should only be used, at most, and if at all, as a starting point for you to conduct a thorough investigation of the Profiled Issuer and its securities and to consult your financial, legal or other adviser(s) and avail yourself of the filings and information that may be accessed at www.sec.gov, www.pinksheets.com, www.otcmarkets.com or other electronic sources, including: (a) reviewing SEC periodic reports (Forms 10-Q and 10-K), reports of material events (Form 8-K), insider reports (Forms 3, 4, 5 and Schedule 13D); (b) reviewing Information and Disclosure Statements and unaudited financial reports filed with the Pink Sheets or www.otcmarkets.com; (c) obtaining and reviewing publicly available information contained in commonlyknown search engines such as Google; and (d) consulting investment guides at www.sec.gov and www.finra.com. You should always be cognizant that the Profiled Issuers may not be current in their reporting obligations with the SEC and OTCMarkets and/or have negative signs at www.otcmarkets.com (See section below titled "Risks Related to the Profiled Issuers, which provides additional information pertaining thereto). For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity-based compensation in the companies it writes about, or a combination of the two. For full disclosure, please visit: https://www.cannabisfn.com/legal-disclaimer/. A short time after we acquire the securities of the foregoing company, we may publish the (favorable) information about the issuer referenced above advising others, including you, to purchase; and while doing so, we may sell the securities we acquired. In addition, a third-party shareholder compensating us may sell his or her shares of the issuer while we are publishing favorable information about the issuer. Except for the historical information presented herein, matters discussed in this article contain 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. CFN Media Group, which owns CannabisFN, 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. CFN Media Group, which owns CannabisFN, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.cannabisfn.com/legal-disclaimer/.

Copyright © Accelerize Inc. · All Rights Reserved · Privacy Policy · Legal Disclaimer

loading