Halo Collective Inc. (“Halo”) (NEO: HALO) (OTCQX: HCANF) (Germany: A9KN) today announced that its wholly-owned subsidiary Bophelo Bioscience & Wellness (Pty) Ltd. (“Bophelo”) has secured European Good Agricultural and Collection Practices (“EU GACP”) compliance for cannabis grown at Bophelo’s initial 14-hectare cultivation site, scalable up to 200-hectares, located in T’sakholo, Mafeteng, which forms part of the first Special Economic Zone (“SEZ”) in Lesotho, Africa.
EU GACP certification enables Bophelo to export medicinal cannabis and international markets, including the European Union. According to Prohibition Partners, a leading market intelligence firm providing strategic consultancy services, insights and data on the global cannabis industry, the EU medical cannabis market is predicted to be worth approximately $37 billion by 2027.
Bophelo is one of the key international medical cannabis assets expected to make up Akanda Corp. (“Akanda”). In June 2021, Halo announced the proposed reorganization of its non-U.S. medical operations (the “International Reorganization”) into Akanda, to be led by accomplished cannabis and corporate finance and banking industry executive Tej Virk and Halo’s former Executive Chairman Louisa Mojela, one of Africa’s most accomplished female entrepreneurs. The current 14-hectare site is scalable up to a 200-hectare Lesotho-based cultivation and processing campus. Akanda is also expected to include distribution and route-to-market through CanMart Ltd. (“CanMart”), Halo’s UK-based fully approved pharmaceutical importer and distributor which supplies pharmacies and clinics within the UK.
“EU GACP certification is a hard-won accomplishment that enables Bophelo to participate in the large, rapidly growing market in the EU for medicinal cannabis,” commented Kiran Sidhu, CEO and Co-Founder of Halo. “With this approval, Bophelo can begin commercializing its California and Oregon west coast style cannabis for the EU immediately. In addition, Bophelo is actively working to secure distributors for its premium flower lines. Many thanks to Tej and his team for putting in the hard work to get GACP across the line.”
THE EU GACP certification was awarded to Bophelo by Pharmaconsulta Ltd. (“Pharmaconsulta”), an independent consultancy firm based in Malta specializing in pharmaceutical regulatory affairs. Pharmaconsulta’s audits are recognized globally.