Halo Labs buys 20% stake in Bophelo Bioscience

Canada’s Halo Labs has bought a 20% stake in Bophelo Bioscience and Wellness, a Lesotho-based cannabis company.  In exchange Bophelo will receive management services and expertise to build, design and operate cGAP cultivation and cGMP extraction facilities. In addition, Halo will receive a royalty on future extracted products; and will acquire all of Bophelo Bioscience’s production at prevailing market rates at time of production.

Bophelo Bioscience is the holder of one of a limited number of licenses in Lesotho to import, cultivate, manufacture and export cannabis products. The company also holds a 98-year lease over a fourteen-hectare land package with an option on an additional 194 hectares. Bophelo Bioscience expects to establish a five-hectare greenhouse facility in the first quarter of 2019, which they will use to cultivate high quality, low cost cGAP cannabis products for extraction and export to international markets. Bophelo Bioscience’s site is located near the town of T’sakholo; which is approximately 70 km south of Maseru, Lesotho’s capital city. The site has good soil conditions, access to an abundant and naturally occurring pure water supply, as well as access to cheap electricity. To service the large scale grow operation will be a full cannabis extraction facility capable of producing over 4 million grams of concentrates and oils per year.

Lesotho was the first Africa country to legalise the cultivation and manufacturing of cannabis and has attracted the international investments from major cannabis companies, such as Canopy, Aphria and Supreme.