The deal will see Cannus provide Halo Labs with a steady supply of cannabis beginning in March
Cannus Partners, a California-based cannabis company, and Halo Labs have entered into a two-part agreement that will lead to both companies becoming more productive. The cannabis producer will give Halo 1,500 pounds of cannabis biomass each week and Halo will manufacture and supply Cannus 50,000 grams of distillate per week.
The first delivery of bulk extracts is expected to be made in March, provided Cannus is able to secure all the requisite licensing it needs in California. Both companies will equally share the gross profit from the partnership and the deal is reportedly worth $250,000 in distillate per week.
According to the CEO of Halo Labs, Kiran Sidhu, “We are delighted to partner with Cannus Partners, a vertically integrated cannabis company. Cannus 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.”
Cannus Partners CEO Brian Baca added, “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. Halo’s expertise in extraction complements our 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.”
Cannus cultivates, produces, distributes cannabis and also operates dispensaries in California. It is creating a seed-to-sale business model and is the owner of several farms in the state. It is expected to have its licenses in place by the end of next month.