DUBAI, United Arab Emirates–(BUSINESS WIRE)–Alpha Blue Ocean (ABO), a family office founded by Pierre Vannineuse and a pioneer in alternative finance in Europe, is pleased to announce that its investment fund, Global Tech Opportunities, has entered into an additional financing agreement of CAD 65m with Halo Collective Inc (“Halo”) in the form of convertible debentures.
The acquired capital will strengthen Halo’s balance sheet and the intention is to use the proceeds of the agreement for general working capital purposes as well as to fund various organic and inorganic growth initiatives. This will include the acceleration of its U.S. west coast expansion strategy.
ABO is expecting that a principal amount of approximately $15-20 million of convertible debentures will be issued from the subscription agreement during 2022 to fulfill Halo’s business plan, including the opening of its three planned dispensaries in the Los Angeles area.
Amine Nedjai, CEO of Alpha Blue Ocean: “We’re very pleased to extend our financial commitment with this second larger financing for Halo. The Company is at an interesting inflection point as it speeds up its US expansion strategy. Furthermore, with Halo being the largest shareholder of Akanda (AKAN:US), an international medical cannabis company with grow operations in Africa and distribution to Europe, we believe that Halo is greatly undervalued. Halo’s management have proven that beyond growing the operations of its vertically-integrated business, it can find underappreciated assets to invest, grow and spin-off to maximize value for all stakeholders.”
Kiran Sidhu, CEO of Halo Collective Inc: “The U.S. west coast cannabis landscape is under-going massive disruption just as the opportunity for stronger players is as great as ever. This new capital will allow us to focus on shareholder value creation through strategic investments in retail and indoor grow opportunities in California, new products and increased distribution in Oregon and California, and packaging up and building out our functional mushroom and CBD businesses.”
For any additional information or to request an interview with an Alpha Blue Ocean executive, do not hesitate to contact : pr@abo.co
About Alpha Blue Ocean
Created in 2017, Alpha Blue Ocean is a pioneer in alternative finance providing innovative financing solutions in Europe, particularly in the medical innovation sector. In 4 years, the Group, founded by Pierre Vannineuse, has executed more than €1.5 billion in financial commitments, 60% of which has been in the life science sector.
About Global Tech Opportunities
Global Tech Opportunities is an investment fund managed by Alpha Blue Ocean.
About Halo Collective Inc
Halo is a leading, vertically integrated cannabis company focused on the West Coast of the United States and operates other emerging businesses in CBD and non-psychotropic mushroom functional beverages.
Contacts
PRESS
Rajae Elantari – +971 58 539 7678 – r.elantari@abo.co
Samuel Botton – 06 84 79 99 61 – sbotton@stepconseil.com