Halo Collective Inc (OTCMKTS: HCANF) has announced that it has completed the issuance of its common shares.
Information on the issuance of the group’s common shares
The company announced that it had issued more than 32 million common shares of the company. The 32 million-odd shares are issued to individuals, including a section of independent consultants, related parties, and one of the group’s suppliers.
In the past, on September 30 2021, the group issued more than 32 million what the company calls compensation shares. The respective shares were issued to compensate fees payable by the group. The fees were payable by Halo Collective Inc to independent consultants, related parties, and suppliers of the group for services rendered between March 2021 and September 2021. Shares were issued to Kiran Sidhu, a director, and the chief executive officer of the company.
Furthermore, it has come to light that the corporate house issued all the compensation shares adhering to the securities laws. The respective shares are bound by a hold period. From the date they are issued, the compensation shares will expire in four months and one day. The respective period is called the hold period.
Green Times Consulting Ltd received 12 million compensation shares
Green Times Consulting Ltd was handed over more than 12 million compensation shares as part of the issuance. A source from Halo Collective Inc shared that the group used the services of Green Times Consulting Ltd for consulting work provided mainly in the European market regarding investor relations.
Halo Collective Inc inks share purchase agreement with Akanda Corp
There is undoubtedly more news coming from Halo Collective Inc. The group has inked an agreement with Akanda Corp regarding an earlier announced sale deal of international assets. However, before the completion of the mentioned deal, the company aims to seal an internal agreement. As per the terms and conditions of the agreement, the group will exchange 100% of both outstanding and issued shares of Cannahealth to Akanda Corp in exchange for more than 13 million common shares in the capital of Akanda Corp. The exchange deal is valued at more than $13 million, equal to Halo’s book value of Bophelo and CanMart.
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