Toronto, Ontario--(Newsfile Corp. - December 12, 2022) - Halo Collective Inc. (NEO: HALO) (OTCQB: HCANF) (FSE: A9K0) ("Halo" or the "Company") anticipates significant sales increase in Oregon sales for 2023 after launching an aggressive expansion plan. The sales team has been making progress onboarding new retail dispensary chains and former dispensary customers and is gearing up for a strong year in 2023. The Company is also launching new premium cannabis strains and plans to commence growing the launch harvest next week at its Pistil Point facility. The launch will include three new strains: Gelato Biscotti, Sherbet and Strawberry Sherbet as an initial lineup for their new dessert line. The Company continues to expand its product portfolio and innovate new strains maintaining its premium standard for Cannabis manufacturing and cultivation in Oregon and California.

After successful partnership with one of the top dispensary chains in Oregon with over 30+ locations across the state, the sales team has launched an aggressive expansion plan targeting high volume dispensaries and wholesalers. Having evaluated efficiencies and production capabilities amongst its various facilities in Oregon, the company is positioned well to supply large scale wholesale outlets. Sales numbers and volumes have been proven earlier this year and maintains a strong market for cannabis consumption volumes. Cannabis Business Times reports: Adult-use sales totals jumped to $83.7 million in April (2022). In addition to the $83.7 million in adult-use sales for April, Oregon's licensed cannabis retailers also sold nearly $6.1 million in medical cannabis products–$89.8 million combined for the month of April. Cannabis flower represented 50.5% of the combined product market share in April, while concentrates and extracts represented 24.3% of the market, and edibles and tinctures represented 13.6% of the market.¹ While 2022 overall exhibited lackluster sales, Statista forecasts an estimated marijuana sales value of approximately 1.04 billion U.S. dollars in Oregon in 2025.² Some experts say this is partially due to Oregon state's proposed legislation to tamp down the traditional market. AP News reports that parts of Oregon have seen record seizures, with retail street value of the marijuana in Oregon estimated to be $76 million, this poses opportunity for growth in the legal cannabis market. ³

The launch of Halo's new dessert strains: Gelato Biscotti, Sherbet and Strawberry Sherbet will offer new additions to the current portfolio and will be advanced through the current sales and distribution channels. The initial production will commence next week, with the expected harvest and cultivation to complete in in late Q1. Once the initial grow of the new strains has been produced and launched to market, the company will review and assess the feedback and demand for these new strains. The new dessert strains will primarily be sold in flower form, with a portion of production being converted to pre-rolls. The Company expects a sell-out of the crop based on initial conversations with its customer base. Upon the second growth cycle in March 2023, the Company plans to utilize the new dessert strains for extracts and vape cartridges in addition to flower and pre-rolls.

The Portland Business Journal reports: "Over the medium and long term, sales are expected to increase as Oregon's population, income and spending grow," the economists say. Then there's the possibility of usage-rate growth – something many in the industry are hopeful of, but that the economists haven't yet built into their models. "Marijuana sales are expected to remain a steady share of income and spending," ⁴ they say. "As such, the risks lie primarily to the upside should usage and broader social acceptance continue to increase in the years ahead."

"Halo has been recognized as an innovator and premium brand in the industry having exclusive access to new high-quality strains in Oregon, reinforcing its competitive edge in the Cannabis space," states CEO and Chairman Katie Fields. "Combining Halo's powerful manufacturing and cultivation capabilities, with its tenacious sales strategy, we project a strong year for 2023."

Continued Ms. Field, "Halo remains steadfast in its commitment to solidifying its strong and long-lasting connection with Oregon consumers as we seek maximum penetration in our core markets. We view our operations and sales structure in Oregon as a blueprint for potential expansion plans as we continue to gain traction and set a standard for excellence."

The Company sees great value in continued growth within both the states of Oregon and California. Halo has experienced positive results by expanding its portfolio, adding in additional strains, and continuing to offer a larger variety of products to its consumers. The strains and product offerings are constantly being re-evaluated and prioritized based on demand. The Company is focusing on new dispensary growth and adding in new points of distribution across the state of Oregon as part of its sales plan for the upcoming year.

About Halo Collective

Halo is focused on the United States West Coast, where it has vertically integrated operations covering the entire value chain from seed to sale. Halo cultivates, extracts, manufactures, and distributes quality cannabis flower, pre-rolls, vape carts, edibles, and concentrates. Halo sells these products under a portfolio of brands, including Hush™, Winberry Farms™, its retail brand Budega™, and license agreements with FlowerShop*. In addition, Halo has opened two dispensaries in Los Angeles under the Budega™ brand in North Hollywood and Hollywood, with plans to open one more in Hollywood in 2022.

In the non-THC sector, Halo is expanding into health and wellness categories, including CBD and functional supplements such as nootropic nutraceuticals and nonpsychotropic mushrooms. Halo, through a series of acquisitions, has product offerings in the form of beverages (H2C Beverages), dissolvable strips (Dissolve Medical), capsules (Hushrooms™), and topical supplements (Hatshe) with proposed national distribution via a strategic agreement with SWAY Energy Corporation.

Halo has successfully acquired and integrated a variety of companies which were subsequently reorganized to create Akanda Corp. (NASDAQ: AKAN), an international medical cannabis and wellness company, of which Halo is the largest shareholder. Halo has also acquired a range of software development assets, including CannPOS, Cannalift, CannaFeels, and a discrete sublingual dosing technology, Accudab. Halo intends to reorganize these entities (including their intellectual property and patent applications) into a subsidiary called Halo Tek Inc. and to complete the distribution of the shares of Halo Tek Inc. to shareholders on record at a date to be determined.

For further information regarding Halo, see Halo's disclosure documents on SEDAR at www.sedar.com

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Contact Information

Halo Collective Inc.
Investor Relations
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www.haloco.com/investors

For additional information please contact Marshall Minor, Interim Chief Financial Officer of the Company at (541) 646-5694 or This email address is being protected from spambots. You need JavaScript enabled to view it..

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". Forward-looking information may relate to anticipated events or results including, but not limited to expectations regarding improved performance, management's plans regarding Pistil Point and the California market, plans regarding streamlining of business segments, management's plans regarding its portfolio of cannabis businesses and intention to expand into health and wellness, the proposed distribution agreement with SWAY Energy Corporation, the expected opening date of the Company's California dispensaries and the proposed spin-off by Halo Tek Inc.

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 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. Among others, the key factors that could cause actual results to differ materially from those projected in the forward-looking information and statements are the following: inability of management to successfully integrate the operations of acquired businesses, changes in the consumer market for cannabis products, changes in the expected outcomes of the proposed changes to Halo's operations, delays in obtaining required licenses or approvals necessary for the build-out of Oregon operations, dispensaries or Canadian operations, the proposed spin-out with Halo Tek Inc., delays or unforeseen costs incurred in connection with construction, the ability of competitors to scale operations in Northern California, delays or unforeseen difficulties in connection with the cultivation and harvest of Halo's raw material, changes in general economic, business and political conditions, including changes in the financial markets; and the other risks disclosed in the Company's annual information form dated March 31, 2022 and other disclosure documents available on the Company's profile at www.sedar.com. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected.

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.

Non-Solicitation

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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¹ https://www.cannabisbusinesstimes.com/article/oregon-recreational-marijuana-sales-decrease-2022-april-flower-price/
² https://www.statista.com/statistics/798091/oregon-cannabis-sales-value-forecast/
³ https://apnews.com/article/politics-business-oregon-government-and-7f1670654904a453b1d06f6b7a290310
⁴ https://www.bizjournals.com/portland/news/2022/05/23/mixed-news-on-cannabis.html