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TORONTO, Jan. 20, 2021 /CNW/ – Halo Labs Inc. (“Halo” or the “Company“) (NEO: HALO) (OTCQX:AGEEF) (Germany: A9KN) is pleased to provide an update on its California operations.
The California cannabis market remains the largest in the United States. According to BDS Analytics (“BDSA”), spending for legal cannabis use reached $3.2B in the state between January and November 2020 and is projected to exceed $4B by 2022.1 Amidst the expansion of legal sales in California, Halo has seen a significant increase in product sales to dispensaries with a wider array of offerings including flower, infused pre-rolls, concentrates, distillate cartridges and edibles.
Halo’s top-selling brand in dispensary sales is Hush, which includes vape cartridges, concentrates, edibles and infused pre-rolls. According to BDSA, in the vape category alone, the Hush brand generated $2.14M in California retail sales in 2020 when compared to $100,531 in 2019—an overall 2,035 percent sales increase year over year. In November 2020 alone, BDSA reported that retail sales of Hush vape cartridges reached $419,308. BDSA reports year over year between January-November 2019 and January-November 2020, Hush brand vapes are now ranked in the top 10 fastest growing brands in California2. The Company’s third party distributor reports reflect Hush products can be found in over 110 dispensaries across the state of California.
In 2020, the Company formed a partnership with FlowerShop*, a conceptual wellness brand, alongside partner and key member, G-Eazy—an American rapper and producer from Oakland, CA. The Company anticipates FlowerShop*s innovative products and marketing approach combined with Halo’s cannabis industry expertise will allow the two companies to build a global brand , offering a full proprietary line of cannabis products including flower strains, novel