Alpha Blue Ocean’s (ABO) Global Tech Opportunities investment fund has entered into an additional financing agreement of CAD 65m with Halo Collective Inc (“Halo”) in the form of convertible debentures.
Alpha Blue Ocean’s (ABO) Global Tech Opportunities investment fund has entered into an additional financing agreement of CAD 65m with Halo Collective Inc (“Halo”) in the form of convertible debentures.
ABO is a family office founded by Pierre Vannineuse and a specialist in alternative finance in Europe.
Halo is a cannabis company focused on the West Coast of the United States and operates other emerging businesses in CBD and non-psychotropic mushroom functional beverages.
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 US west coast expansion strategy.
ABO is expecting that a principal amount of approximately USD15-20 million of convertible debentures will be issued from the subscription agreement during 2022 to fulfil Halo’s business plan, including the opening of its three planned dispensaries in the Los Angeles area.
