Halo inks deal with Precisa, to acquire CBD dosing technology Accu-Dab
Category: #headlines  By Hrishikesh Kadam  Date: 2019-12-23
  • share
  • Twitter
  • Facebook
  • LinkedIn

Halo inks deal with Precisa, to acquire CBD dosing technology Accu-Dab

Cannabis extraction company Halo Labs Inc. has reportedly inked a definitive agreement with Precisa Medical Instruments Corp. As per the agreement, the company will acquire all of Precisa’s common shares for CAD 3,750,000 in Halo common shares at C$0.28 per share.

According to reliable sources, the acquisition will be completed through a share exchange in which Halo will exchange 13,392,857 of its common shares to purchase all of the issued and outstanding Precisa common shares through Halo Accu-Dab Holdings Inc., its wholly-owned subsidiary. Evidently, the acquisition will make Precisa a wholly-owned subsidiary of Halo Accu-Dab Holdings Inc.

The Accu-Dab is a precise and convenient technology for on-the-go sublingual consumption of THC or CBD products. Apparently, the technology ensures high-impact absorption of THC or CBD products and acts as a legal option for consumers seeking a non-vaporization mechanism for cannabis consumption.

The Accu-Dab oil dabbing device supposedly takes the form of a discrete pen that enables users to pre-select measured doses of THC or CBD ranging from 0.01-0.60 mL. Its convenient dial selection mechanism facilitates precise administration of THC or CBD products accurately and repeatedly to consumers’ specific dosing needs.

Precisa currently owns the intellectual property (IP) to and is aiming to develop the Accu-Dab CBD and THC technology.

Halo is focused on developing the Accu-Dab to enable more generalized sublingual consumption of THC and CBD for customers who are averse to vaporizing and are looking for an accurate and discrete consumption method, mentioned Kiran Sidhu, Co-Founder and CEO of Halo. The company will continue to deliver advanced products and device technologies to its customers.

Also read: WuXi ATU and GeneMedicine partner to develop oncolytic virus products

As a closing condition, Halo has announced a concurrent private placement of Halo’s common shares at C$0.30 per share for aggregate gross proceeds , that were oversubscribed from CAD1,000,000 to CAD1,200,000, led by Los-Angeles, California-based Archytas Ventures.

It seems like Halo plans to use the proceeds to complete the development and distribution of Accu-Dab as well as for general working capital purposes.

Sources close to the matter reported that both the acquisition and concurrent private placement are expected to close sometime in early January 2020 and are subject to customary closing conditions. This includes the receipt of all applicable regulatory as well as stock exchange approvals.

 

Source credit : https://business.financialpost.com/pmn/press-releases-pmn/business-wire-news-releases-pmn/halo-announces-an-agreement-to-acquire-accu-dab-technology-and-a-concurrent-private-placement

  • share
  • Twitter
  • Facebook
  • LinkedIn


About Author

Hrishikesh Kadam    

Hrishikesh Kadam

A graduate in electronics and telecommunication engineering, Hrishikesh Kadam has always found writing fascinating. Driven by a never-ending passion for content creation combined with a bit of experience in writing personal blogs, Hrishikesh blends his technical knowl...

Read More

More News By Hrishikesh Kadam

Pure Storage takes over Portworx to support Kubernetes & containers
Pure Storage takes over Portworx to support Kubernetes & containers
By Hrishikesh Kadam

Storage as-a-service solutions provider, Pure Storage, has reportedly signed an agreement for the acquisition of leading Kubernetes data services platform, Portworx, for an approximate sum of $370 million. The transaction is reported to be the larges...

MaxLinear purchases intellectual property provider NanoSemi Inc
MaxLinear purchases intellectual property provider NanoSemi Inc
By Hrishikesh Kadam

Leading integrated circuits provider, MaxLinear, Inc., has reportedly announced its takeover of NanoSemi, Inc., the forerunner in the provision of intellectual property, deploying patented machine learning techniques for the enhancement of power effi...

Syncron introduces new solutions to enhance Syncron Service Cloud
Syncron introduces new solutions to enhance Syncron Service Cloud
By Hrishikesh Kadam

Syncron has recently announced two new releases to make significant enhancements to its Syncron Service Cloud. The Syncron Inventory 20.1 and Price 20.2 solutions are designed to assist OEMs (original equipment manufacturers) in enhancing their liqui...