TORONTO, May 19, 2021 /CNW/ – Halo Collective Inc. (“Halo” or the “Company“) (NEO: HALO) (OTC: HCANF) (Germany: A9KN) is pleased to announce that its wholly-owned subsidiary Bophelo Bioscience & Wellness (Pty) Ltd. (“Bophelo“) today welcomed Lesotho’s Prime Minister, The Rt.
Honorable Dr. Moeketse Majoro and six of his Cabinet Ministers to tour Bophelo’s site. Ms. Louisa Mojela, the Executive Chairman of Halo and the Founder and Chairman of Bophelo, affirmed the groundbreaking opportunity created by the Lesotho Government by being the first country on the African continent to legalize the growing and cultivation of medicinal cannabis. On behalf of Halo and Bophelo, Ms. Mojela expressed her most profound gratitude for the Prime Minister and his cabinet’s momentous visit. This important milestone for the country has brought meaningful and transformative change to the community and contributes to Lesotho’s economy.
The Prime Minister has declared the Mafeteng area as the first Special Economic Zone (“SEZ”) in Lesotho and the first in the world to include medicinal cannabis. Bophelo is currently the only enterprise that is fully operating in the SEZ and has plans to further maximize the benefits afforded by the zone. To the Company’s knowledge Bophelo is the first cannabis company in the world to be part of an SEZ. The Mafeteng Special Economic Zone was created to attract
the leading private sector participants to develop a center of innovation for the agriculture and pharmaceutical industries.
Halo and Bophelo have made great strides in developing the local labor force and infrastructure, becoming one of the larger employers in Lesotho with hundreds of local employees.
Andreas Met, Managing Director of Bophelo and Co-Founder of Halo, says, “It was a great honor to show our accomplishments—and specially to introduce our young Basotho leadership team, including Moeti Marai and Puleng Mabula. It’s incredible to be working hand-in-hand with a national government that shares our mission and fully supports the cultivation of medicinal cannabis as a key industry, understanding the huge positive impact cannabis can make in peoples’ lives as both a medicine and an economic driver wealth creation for the people of Lesotho.”
Halo and Bophelo are expected to receive both Good Manufactures Practices (“GMP”) and Good Agricultural and Collection Practices (“GACP”) certifications from the quality growing and manufacturing consultant, Pharmaconsulta Ltd., following multiple site visits and a comprehensive
review of the company’s standard operating procedures. With the addition of these certifications, the company will be able to supply the European market with sun-grown quality cannabis and further invest in African economies and provide growing support for the people of these communities.
Ms. Mojela said, “Bophelo is committed to developing young talent through the creation of much-needed jobs, transfer of skills, and enterprise development. I am personally committed to creating a company that has strong environmental, social and corporate governance (“ESG”) principles.”
In addition, Kiran Sidhu, CEO of Halo, states: “We have remained committed to building a strong relationship with Lesotho over the past few years, we have tried a lot of different cannabis strains over the past two years and gained valuable knowledge to be able to produce very profit-oriented cannabis flower on a large scale.”
Sidhu continues: “We are thrilled to be a part of Lesotho’s economic growth and additionally to create work and learning opportunities for young people. This program will only grow with the GACP certification and remains our stated priority.”
Establishment of Lesotho’s First SEZ and the First in the World to Include Cannabis
Bophelo is the first cannabis business globally to be part of a special economic zone that brings significant benefits. SEZ is an area where the business and trade laws are different from the rest of the country, located within a country’s national borders aiming to increase trade balance, employment, investment, job creation, and effective administration. To encourage businesses to set up in the zone, financial policies are introduced. These policies typically encompass investing, taxation trading, quotas, customs, and labor regulation. Additionally, companies may be offered tax holidays, where upon establishing themselves in a zone, they are granted a period of lower taxation.[i]
For more information about Bophelo, please visit www.bophelo-bioscience.com
SOURCE Halo Collective Inc.
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