Halo Collective Announces 100 To 1 Reverse Split

Halo Collective (NEO: HALO) this evening indicated it’s looking to conduct a reverse split. The company is looking to consolidate its outstanding common shares as a means of curbing its growing share count.

The consolidation will see the firm issue to shareholders one post consolidation share for every 100 pre-consolidation shares held of the company, making it one of the larger reverse splits to occur within the cannabis space. All fractional shares are to be rounded down to the next lowest whole figure, with no additional consideration provided for these fractional shares.

Following the reverse split, the firms currently outstanding 2.87 billion shares are to be reduced down to 28.7 million, significantly reducing the firms share count.

The consolidation is set to take effect October 12, 2021.

The move is reportedly being conducted ahead of the potential for US operators to list on major US exchanges, following the US House of Representatives passing the SAFE Banking Act under the National Defense Authorization Act on September 21. The Act however now has to be passed by the Senate as it proceeds forward.

Halo Collective last traded at $0.035 on the Neo Exchange.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Are We Entering a New 10-Year Silver Supercycle? | Keith Neumeyer – First Majestic Silver

Why the Biggest Players Are Desperate for New Gold & Copper, And Fast | Rudi Fronk – Seabridge

Why the World Faces a Uranium Supply Shock, Sooner Than You Think | Scott Melbye – Uranium Royalty

Recommended

ESGold Sees ANT Survey Reveal Vertically Continuous System To 1,200 Metres Depth

First Majestic Produces 7.9 Silver Equivalent Ounces In Q2, Lifts Production Guidance

Related News

Aurora Cannabis Confirms Reverse Split Effective Monday

Aurora Cannabis (TSX: ACB) (NYSE: ACB) confirmed last night after the bell that it will...

Saturday, May 9, 2020, 08:30:00 AM

Halo Collective To Acquire Pistil Point Facility, Oregon Licenses And Assets For $12.2 Million

Halo Collective Inc. (NEO: HALO) this morning announced that it has entered into definitive agreements...

Friday, August 27, 2021, 09:36:00 AM

Hexo Corp Shareholders Approved 4 To 1 Reverse Split

The shareholders of Hexo Corp (TSX: HEXO) (NYSE: HEXO) have approved the previously announced share...

Monday, December 14, 2020, 07:07:49 AM

Canada House Wellness to Conduct 25 to 1 Reverse Split

Canada House Wellness (CSE: CHV) filed its annual management information circular last night, setting its...

Friday, November 22, 2019, 12:35:12 PM

Halo Collective To Expand Holdings In Oregon With William’s Wonder Farms Acquisition

Halo Collective Inc. (NEO: HALO) announced on Saturday the firms intentions of acquiring the Oregon-based...

Monday, July 26, 2021, 08:41:00 AM