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tap here to see other videos from our team. Try refreshing your browser, or REPEAT/Halo Labs Agrees to $12 Million Purchase of KushBar Retail Cannabis Business and 5 Permitted Store Locations in Alberta, Canada Back to video

TORONTO — Halo Labs Inc. (“Halo” or the “Company”) (NEO: HALO, OTCQX: AGEEF, Germany: A9KN) ), is pleased to announce that it has entered into an asset purchase agreement (the “Agreement”) with High Tide Inc. (“High Tide”) (CSE: HITI) (OTCQB:HITIF) (FRA:2LY) and affiliates thereof for the $12 million purchase of High Tides’ KushBar retail cannabis brand, retail cannabis stores and all associated assets (the “Transaction”).

The Transaction provides for the acquisition by Halo of 3 licensed cannabis retail stores1 and the rights to 5 locations across Alberta which have already received development permits (the “Portfolio”) for aggregate consideration of $12 million, payable in common shares of Halo ( “Halo Shares”) at a deemed price of $0.26 per Halo Share. Concurrent with signing the Agreement, Halo has issued 13,461,538 Halo Shares to High Tide (the “Deposit Shares”) as a deposit to secure the Transaction (such deposit being refundable in certain limited circumstances, including force majeure). In connection with entering into the Agreement, Halo has issued an aggregate of 2,307,692 Halo Shares as a finder fee to certain arm’s-length consultants of the Company.