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Halo has released the 10-piece, cannabis-infused Hush gummies at a $6.50 wholesale list sale price to dispensaries. The Company expects to realize margin of at least 50% based on the $6.50 wholesale price.
Halo is currently producing approximately 51,500 10-piece gummy units per month at the facility operated by the Company’s wholly-owned subsidiary, Outer Galactic Chocolates LLC. Within the next 45 days, the Company expects to double production to 103,200 units per month. Halo is targeting having this product line available for sale in up to 200 California dispensaries over the next 60 days.
Kiran Sidhu, Co-Founder and CEO of Halo comments:
This is one of the most exciting new product launches at Halo since we first started the Company. We have a new bold look thanks to G-Eazy and the team at Feel Better and great-tasting products thanks to Jeff Stewart. Halo is manufacturing and distributing full-spectrum, high-quality gummies that produce the desired effects to satisfy the wants and needs of the choosy California consumer.
This is the first of several Halo new product launches the Company has planned in both Oregon and California in the near future. In addition to new Hush branded products planned for the fourth quarter of 2020, Halo is collaborating with both Feel Better, LLC (dba Flowershop) and Zkittlez to launch new innovative, proprietary products.
Halo is a leading, vertically-integrated cannabis company that cultivates, extracts, manufactures and distributes quality cannabis flower, oils, and concentrates, and has sold approximately six million grams of oils and concentrates since inception. Halo continues to scale efficiently, partnering with trustworthy leaders in the industry, who value their operational expertise in bringing top-tier products to market. Current growth includes expansion in key markets in the United States and Africa, with planned geographic expansion into U.K. and Canadian markets. With a consumer-centric focus, Halo markets value-driven, branded, and private-label products across multiple product categories. The Company also has acquired a range software development assets, such as the technology platforms CannPOS, Cannalift, and more recently signed a deal to acquire CannaFeels. Halo also owns the inhalation technology Acudab.