Halo Labs Inc. HALO AGEEF agreed to acquire all of Precisa Medical Instruments Corp.'s common shares for CA$3.75 million, at a price of 28 cents a share.
Halo plans to fund the Prescia-owned vape product Accu-Dab by investing $1.2 million.
A wholly owned subsidiary, Halo Accu-Dab Holdings Inc., plans to acquire all of Prescia's common shares, giving the company a total of 13,392,857. Prescia will fall under the Halo umbrella as a subsidiary of the wholly owned subsidiary.
"Now, we are developing the Accu-Dab to allow more generalized consumption through sublingual application of CBD and THC for those who are averse to vaporizing and want a discrete and accurate consumption method," Halo CEO and Co-founder Kiran Sidhu said in a statement.
The purchase and concurrent funding are slated to close in early January.
Related Links:
Halo Labs' Q3 Revenue Jumps 99% Year-Over-Year
Bulls And Bud Of The Week: Halo Labs And 6 Things To Do In Illinois When Cannabis Becomes Legal
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Cannabis is evolving – don’t get left behind!
Curious about what’s next for the industry and how to leverage California’s unique market?
Join top executives, policymakers, and investors at the Benzinga Cannabis Market Spotlight in Anaheim, CA, at the House of Blues on November 12. Dive deep into the latest strategies, investment trends, and brand insights that are shaping the future of cannabis!
Get your tickets now to secure your spot and avoid last-minute price hikes.