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Halo Labs Improves Transparency with Move to OTCQX

Ryan Allway

May 8th, 2019

App, Exclusive, News, Top News

Many Canadian cannabis companies trade on the OTC Markets rather than a national exchange due to restrictive U.S. cannabis regulations and higher costs. While many U.S. investors have access to OTC-listed securities, there is a wide range of transparency levels that can impact investment decisions and liquidity. The OTCQX® is the highest tier of the OTC Markets exchange and represents the utmost transparency from issuers.

Halo Labs Inc. (NEO: HALO) (OTCQX: AGEEF) (GERMANY: A9KN) recently announced that it has qualified to trade on the OTCQX® Best Market, which represents an uplisting from its prior position on the OTCQB® Venture Market under the ticker symbol “AGEFF”. The stock began trading on the OTCQX® under the symbol “AGEEF” on April 30, and investors can already access all of its financial disclosures and real-time level two quotes.

Focus on Transparency

Halo Labs listed on Canada’s NEO Exchange in October of last year, which is a relatively new senior stock exchange that takes a disclosure-based approach to listing companies in the U.S. cannabis sector. The exchange improves the investor experience by eliminating predatory market behavior like high-frequency trading, implementing a unique market making program to ensure liquidity, and offering free real-time market data for everyone.

The move to the OTCQX® represents a similar commitment to transparency and reflects the company’s strong financial position, operating track record, asset base and commitment to disclosure. The OTCQX® requires that companies have minimum levels of assets, revenue, net income, and/or market capitalization, as well as meet certain penny stock exemptions. Companies must also meet certain disclosure requirements that ensure investors remain informed through customary channels.

“I am excited to see Halo upgrading to the OTCQX Market, the highest tier market that the OTC offers,” said Kiran Sidhu, CEO of Halo Labs. “This is a major milestone for Halo and reflects our long operating track record, significant operations and commitment to disclosure to investors. We are excited for this up listing as it opens up the Company to a wider pool of investors throughout the U.S.”

The move could open the door to a greater pool of investors, which could in turn increase liquidity and make the stock more appealing to larger investors.

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Numerous Catalysts Ahead

The move to the OTCQX® comes as Halo Labs continues to build out its cannabis concentrates and oil business in the United States. In March, the company reported record revenue of approximately US$2.8 million driven my expansion into California which has become the driving force of the company. Recently the Company recruited two executives to bolster its California leadership team. Chad Kanner and Gurpreet Sahani will both help expand the company’s California-based operations by leaning on their extensive experience and relationships.

In the meantime, the company continues to build up its Oregon business and expand into other states. The company operates under two licenses for manufacturing and cultivation in Nevada with a pending license for distribution. The team is selling one private label and two in-house brands across 18 dispensaries with its 8,000 sq. ft. licensed processing facility near the Las Vegas airport—and the state could become a major source of revenue in the future.

In addition to the U.S., the company has established an international partnership in Africa. The partnerships include a 14-hectare land package off-take agreement, a 20 percent equity stake and a $0.50 to $2.00 royalty on a signed letter of intent in Lesotho Africa.

Looking Ahead

Halo Labs Inc. (NEO: HALO) (OTCQX: AGEEF) (GERMANY: A9KN) uplisting to the OTCQX® comes as it continues its expansion throughout the United States. By increasing transparency and investor access, the company’s stock could see greater liquidity and attract larger investors over time. In the meantime, investors may want to keep an eye on the stock as it continues to expand its footprint and generate shareholder value.

Please click here to receive additional Investor Information & Corporate Updates

For more information, visit the company’s website at www.halocanna.com.

Disclaimer

The above article is sponsored content. Emerging Growth LLC, which owns CannabisFN.com and CFN Media, has been hired to create awareness. Please follow the link below to view our full disclosure outlining our compensation: https://cannabisfn.com/legal-disclaimer/

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.

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