Halo Labs and Cannus Partners Inc., have made a deal in whcih Cannus will provide Halo with 1,500 pounds of cannabis product (biomass) per week and in return Halo shall manufacture and supply Cannus 50,000 grams of high-grade distillate per week with an estimated wholesale value at over $250,000/week.
The first delivery of bulk extracts is anticipated for March subject to Cannus obtaining all appropriate California state and local licensing in place. The parties agree to share equally in the gross profit.
Kiran Sidhu, CEO of Halo Labs said Cannus Partners is a vertically integrated cannabis company which has developed an expertise in cultivation along with an extensive distribution platform and retail operations and is an ideal partner for Halo. “We look forward to growing our partnership as both companies continue to scale and grow in California and beyond.”
Brian Baca, CEO of Cannus Partners said: “There is significant demand growing in California for a consistent supply of premium distillate. It was important for us to partner with Halo, who is a leader in developing oil and concentrate products that our customers are demanding.”
Baca said that Halo’s expertise in extraction complements Cannus’ current operations perfectly and makes them a great value add partner.
“We look forward to strengthening our partnership as both companies continue to expand their operations.”