Halo Labs Finalizes Acquisition of Nasalbinoid Natural Devices Corp.

Cannabis cultivator Halo Labs Inc. has closed its acquisition of Nasalbinoid Natural Devices Corp.

The Toronto company acquired 34 million common shares for about CA$5.1 million ($3.6 million), or about 15 cents per share.

The company obtained approval from Neo Exchange Inc. for the Acquisition and the Concurrent Financing.

Halo Labs has made a series of announcements in recent weeks.

The company is planning a pilot distillate manufacturing program in California for resin, fats and waxes, tails and terpenes.

"If the pilot program proves to be a success, we expect our proprietary process will give us a strong competitive cost advantage in bulk distillate and vape cartridge sales," said Halo COO and Co-Founder Andreas Met. "The Company’s proprietary remediation process can potentially take unusable product that maybe rife with pesticides and transform it into product that is clean and passes quality and safety tests. In doing so, product thought to be a total loss could be reclaimed and sold for full value."

Halo, known for specializing in extractions, is also re-opening its bulk distillate manufacturing enterprises in Cathedral City, California.

Lastly, it's working to acquire a North Hollywood cannabis dispensary.