- Halo Collective (OTCQB:HCANF) signed a definitive agreement with Nature's Best Resources supporting the former's strategic focus of being the leading, vertically integrated cannabis company that cultivates, extracts, manufactures and distributes high-quality products in the cannabis marketplace.
- The acquisition is in exchange for the issuance of up to 44.05M shares.
- Nature's Best's is a rosin technology and manufacturing company - a solventless cannabis concentrate that has gained significant popularity in Oregon and California over the last few years.
- As per BDS Analytics data, total rosin concentrate sales in California reached $12.47M in 2019, while sales in Oregon reached $7.36M in the same year.
- Post acquiring Nature's Best, management expects Halo's daily rosin production capacity to be 3K grams and running shifts five days per week; the company expects to satisfy 70% of California's demand and all of Oregon's in 2021 at current market sales rates.