Halo Labs Announces Conversion of Debentures into Common Shares

Not for Distribution to U.S. Newswire Servicers or For
Dissemination in the United States

TORONTO–(BUSINESS WIRE)–Halo Labs Inc. (“Halo” or the “Company”) (NEO: HALO, OTCQX: AGEEF,
Germany: A9KN) provides an update on recent conversions of the
Company’s 8% unsecured convertible debentures (the “Debentures”).

Since completion of the Company’s offering of the Debentures on April 4,
2019, the Company has issued an aggregate of 10,521,469 common shares
pursuant to the conversion of Debentures. The conversions have had the
effect of reducing the Company’s debt by CAD$6.9MM. Halo now has an
outstanding share count of 181,062,305.

Kiran Sidhu, Chief Executive Officer of Halo, comments: “We are pleased
by the recent conversion of the Debentures into common shares. As more
of the debentures are converted, Halo’s debt burden is reduced, and our
liquidity is increasing.”

ABOUT HALO LABS

Halo is a cannabis extraction company that develops and manufactures
quality cannabis oils and concentrates, which are the fastest growing
segments in the cannabis industry. Halo has expertise in all major
cannabis manufacturing processes, leveraging proprietary processes and
products, and has produced over 3.5M grams of oils and concentrates
since inception. The forward-thinking company is led by a strong
management team with deep industry knowledge and blue-chip experience.
The Company is currently operating in California and Oregon as well as
Nevada with our partner Just Quality. The Company has also begun
operations in Lesotho Africa through a strategic partnership. With a
consumer-centric focus, Halo will continue to market innovative branded
and private label products across multiple product categories.

For further information regarding Halo, see Halo’s disclosure documents
on SEDAR at www.sedar.com.

Cautionary Note Regarding Forward-Looking Information and
Statements

This press release contains certain “forward-looking information”
within the meaning of applicable Canadian securities legislation and may
also contain statements that may constitute “forward-looking statements”
within the meaning of the safe harbor provisions of the United States
Private Securities Litigation Reform Act of 1995. Such forward-looking
information and forward-looking statements are not representative of
historical facts or information or current condition, but instead
represent only Halo’s beliefs regarding future events, plans or
objectives, many of which, by their nature, are inherently uncertain and
outside of Halo’s control. Generally, such forward-looking information
or forward-looking statements can be identified by the use of
forward-looking terminology such as “plans”, “expects” or “does not
expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”,
“intends”, “anticipates” or “does not anticipate”, or “believes”, or
variations of such words and phrases or may contain statements that
certain actions, events or results “may”, “could”, “would”, “might” or
“will be taken”, “will continue”, “will occur” or “will be achieved”.
The forward-looking information and forward-looking statements contained
herein may include, but is not limited to, the expected timing and
amount of convertible debt that converts to common shares and Halo’s
business generally.

By identifying such information and statements in this manner, Halo
is alerting the reader that such information and statements are subject
to known and unknown risks, uncertainties and other factors that may
cause the actual results to be materially different from those expressed
or implied by such information and statements. In addition, in
connection with the forward-looking information and forward-looking
statements contained in this press release, Halo has made certain
assumptions. Although Halo believes that the assumptions and factors
used in preparing, and the expectations contained in, the
forward-looking information and statements are reasonable, undue
reliance should not be placed on such information and statements, and no
assurance or guarantee can be given that such forward-looking
information and statements will prove to be accurate, as actual results
and future events could differ materially from those anticipated in such
information and statements. The forward-looking information and
forward-looking statements contained in this press release are made as
of the date of this press release, and Halo does not undertake to update
any forward-looking information and/or forward-looking statements that
are contained or referenced herein, except in accordance with applicable
securities laws. All subsequent written and oral forward-looking
information and statements attributable to Halo or persons acting on its
behalf is expressly qualified in its entirety by this notice.

Contacts

Halo Labs
Investor Relations
info@halocanna.com