Halo Labs (NEO:HALO,OTCQB:AGEEF) announced an initial agreement for acquiring a hemp processing facility in Southern Oregon.
As quoted in the press release:
Production at the facility is expected to start in the Q3 of 2019.
At full capacity, Halo will be able to process approximately 10,000 kilograms of hemp per month, which the Company expects will yield 700 to 900 [kilograms] of high-grade distillate or isolate and is projected to result in monthly revenue in excess of US$3.5 million at current wholesale prices.
Kiran Sidhu, Chief Executive Officer of Halo Labs, commented: “As a result of anticipated growth in CBD products, we have received numerous inquiries from current and prospective customers about processing hemp into bulk CBD distillate and isolate. Given the favorable tax and regulatory regimes in Oregon as well as proximity to many large farms that require toll processing, we believe that a hemp processing facility in Southern Oregon close to California is an ideal location.”