Lesotho OilLesotho is going to be a major player in the global CBD market that is just catching fire across the globe...FIRE's 10% stake in Medigrow will be paying dividends going forward, add the Pax Labs Inc agreement and the aquisition of BlissCo and FIRE will have a substantial footprint in oils.
Should see oil sales/ revenues by last quarter '19 along with dried sales in the $20-40mil per quarter range...SP much further north with solid gains for those that own, JMHO...Opt
CANNABIS RELATED NEWS: Halo Labs Buying Bophelo Bioscience in Lesotho; Supreme Cannabis and Canopy Growth Both Recently Invested There
04:57 PM EDT, 06/17/2019 (MT Newswires) -- Halo Labs Inc. (NEO: HALO, OTCQX: AGEEF) after trade Monday entered into a non-binding letter of intent (LOI) for the proposed acquisition of Bophelo Bioscience & Wellness (Pty) Ltd. According to a statement, the transaction is expected to strengthen the company's position in Lesotho, Africa, which is the first African country to grant medical marijuana licenses for cultivation and patient use and is making strides toward becoming the worldwide export hub for cannabis.
Monday's statement said Halo's initial partnership with Bophelo included operation of the 5-hectare cultivation and production site and purchase of its entire production in exchange for a 20% equity stake and a royalty on cannabis sales. In a growing consumer market, Halo now intends to purchase the entire issued share capital of Bophelo for 40,786,667 common shares in the capital of Halo (approximately US$18.4M or C$24.7M).
The statement noted Supreme Cannabis (TSX: FIRE) and Canopy Growth Corporation (WEED.TO, CGC) made significant investments in Lesotho recently with Supreme Cannabis making a C$10M strategic investment in Medigrow Lesotho (Pty) in exchange for a 10% ownership interest in that company, and Canopy Growth Corporation acquiring 100% of DaddyCann Lesotho (Pty) Ltd for C$28.8M.