TORONTO, Oct. 13, 2021 /CNW/ - Halo Collective Inc. ("Halo" or the "Company") (NEO: HALO) (OTCQB: HCAND) (Germany: A9K0) today announced a significant expected increase in yield and number of strains across its 11 acres of owned or contracted outdoor cultivation in the state of Oregon, which is almost four times the flower harvested at the Company's owned or managed Oregon farms during the 2020 season. Sungrown flower harvested at Company's farm during the 2020 season which started in October 2020 and ended in April 2021 was approximately 6,396 pounds compared to an expected yield of 25,000 pounds this season, a 391% increase year over year. The Company is estimating, beginning November 2021 through May 2022 (the "7-Month Period"), that the Company's newly formed Oregon flower sales force is expected to sell 25,000 pounds (11,400 kilos) of sungrown high quality flower cultivated at the Company's own and managed farms which is expected to result in up to $7.3 million of incremental net revenue and up to $5.1 million of incremental pre-tax cash flow1 over the 7-Month Period (the "Sungrown Flower Projections"). The Company's Sungrown Flower Projections do not include sales of the Company's greenhouse or indoor flower cultivated in Oregon, as well as flower sales from over 100 independent cannabis farmers that Halo wholesales for within Oregon. Halo's total Oregon flower sales from all sources has averaged approximately $1 million of monthly net revenue over the past six months and has been the Company's fastest growing sales category in Oregon this year.2 With the addition of the Company's sungrown flower, Halo is targeting $1.9 million of monthly net revenue in all Oregon flower sales from November 2021 onward; an approximately $900,000 planned increase in monthly net revenue ($10.8 million annualized increase). This potential $10.8 million annual increase is initially projected to come primarily from the sungrown high quality flower cultivated at the Company's own and managed farms. In order to fuel supply past April 2022, the Company plans to increase its greenhouse and indoor cultivation footprint and leverage the Company's network of independent cannabis partners.

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

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https://www.newswire.ca/news-releases/halo-collective-expects-to-almost-quadruple-oregon-sungrown-flower-output-894576895.html