Halo Collective has entered into an asset purchase agreement to acquire the William's Wonder Farms cannabis cultivation business in Oregon, including all trademarks, light dep flower, licenses issued by the Oregon Liquor Control Commission (the "OLCC") and subject to OLCC approvals, equipment, and related operating assets.
"The planned acquisition of William's Wonder Farms will permit Halo to increase Halo's genetics library by offering more exotic strains," the Halo team explains. "Additionally, it will allow us to increase our total owned and managed cultivated acreage to 11 acres of outdoor cultivation in Oregon, creating one of the larger cultivation companies in the state."
"The acquisition will also enable us to grow fresh, high-quality flower year-round in greenhouses producing light dep flower nine months out of the year. Moreover, this provides space for Halo to potentially add two more Tier 2 managed licenses on the William's site to bring the total to 5 acres of outdoor and greenhouse cultivation at Williams."
"The acquisition will add a wholesale license on-site to serve as a hub for flower processing, trimming, and other ancillary services for all Halo's Southern Oregon farms. The farm adds six more greenhouses for more year-round light dep cannabis, increasing overall yearly flower sales.
ANM Williams Farm LLC, an indirect wholly-owned subsidiary of Halo, will acquire three Tier II cannabis production licenses and related operating assets, including vegetative, cloning and other propagation equipment and shipping containers located on leased premises in Grants Pass, Oregon. ANM Williams Farm LLC will have a five-year lease on the underlying properties as well as a right of first refusal to purchase these properties.
The signing of the definitive agreements for William's Wonder Farms will increase Halo's total harvestable cannabis canopies in Oregon to 11 acres for this season: 3 acres at William's Wonder Farms, 6 acres at East Evan's Creek in Jackson County, 1 additional acre of pre-purchased cannabis in the Applegate, 1 acre at Fall Creek's Winberry Farm. William's Wonder Farms lies on fertile soil near freshwater from the Applegate River with well-established water rights. The William's Wonder brand is well-known and established in the Portland market where more than 70% of William's sales in Oregon occur.
Halo has also entered into a Consulting Services Agreement with William Hill, CEO and owner of William's Wonder Farms, to provide transition and operational services in connection with Halo's acquisition of the business. Halo believes that William's knowledge, expertise, and success in the Oregon market will help to bolster its plants to expand cultivation and increase flower in the state.