In the first 4 weeks of launch the product has been sold to 140 dispensaries in the state of Oregon generating nearly $100,000 in revenue. The product was Introduced as the flagship product under the GILT brand in a “launch pack” consisting of 36-sale units (18 ½ gram bottles and 18 full gram bottles) to help drive distribution of the complete DabTab™ product assortment, and initial customer feedback has been extremely positive with multiple dispensaries already reordering. The product will be introduced in both 18- and 6-sales unit pack sizes in the coming weeks to meet customer needs and expand distribution in the state.
With the launch in Oregon successfully completed, the Company is excited to have just launched DabTabs™ in Nevada the week of February 18th with the California launch expected the week of March 11th. Additionally, based on customer feedback, the Company will be introducing a GILT DabTab™ 3-pack (0.15 grams) to drive initial trial of the product and provide an even more convenient “on-the-go” DabTab™ option.
David Orr, Chief Revenue Officer of Halo Labs said: “DabTabs™ are a breakthrough product and, in a highly competitive space, provide a refreshingly new and different way for consumers to enjoy their cannabis experience. We are thrilled to be partnering with iLo to introduce DabTabs™ as the first product under our GILT brand. We’ve gotten overwhelmingly positive feedback on social media, with messages such as: @richdeananders ‘Got to be one of the most innovative things I’ve seen in extracts in a long time’ and @brandonfults ‘I’m very impressed and will be buying more. The no-waste, full-spectrum medication is awesome’. The positive social media engagement is reinforcing our excitement about what consumers think about the product!”
Michael Lindars, iLo President and Co-Founder, stated: “We are delighted to see the launch of our product which we think will revolutionize dabbing. DabTabs™ product provide a cleaner, more flavorful experience when compared to traditional dabbing and removes the extensive preparation process while still providing a full spectrum experience of the cannabis. Halo is an excellent strategic partner due to their extensive extraction and scientific expertise which compliments the iLo product line.”
ABOUT HALO LABS
Halo is a cannabis extraction company that develops and manufactures quality cannabis oils and concentrates, which are the fastest growing segments in the cannabis industry. Halo has expertise in all major cannabis manufacturing processes, leveraging proprietary processes and products, and has produced over 3.0M grams of oils and concentrates since inception. The forward-thinking company is led by a strong management team with deep industry knowledge and blue-chip experience. The Company is currently operating in California, Nevada and Oregon as well as Lesotho Africa through a strategic partnership. With a consumer-centric focus, Halo will continue to market innovative branded and private label products across multiple product categories.
For further information regarding Halo, see Halo’s disclosure documents on SEDAR at www.sedar.com.
ilo Vapor, a division of Iconic Ventures, Inc., is a Portland, Oregon based technology, brand and product development company. Its patent-pending devices are reinventing vaping. Through cutting-edge technology and innovative design, ilo’s mission is to create clean, reliable and convenient products that deliver the optimal vaporization experience.
For more information, visit ilovapor.com.
Investors are cautioned that, except as disclosed in the information circular prepared in connection with the Transaction or this news release, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of Halo should be considered highly speculative.
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”.
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, level of activity, performance or achievements of Halo 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. 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.