Halo Labs to acquire Bophelo Bioscience & Wellness for $18.4m.

Halo Labs, a cannabis extraction company, to acquire Bophelo Bioscience & Wellness, the holder of one of a limited number of licenses issued in Lesotho for the production of medicinal cannabis products, for $18.4m. The transaction is expected to strengthen the company’s position in Lesotho, Africa, a country quickly becoming the continent’s export gateway to the global cannabis market. Lesotho is the first African country to grant medical marijuana licenses for cultivation and patient use and is making strides toward becoming the worldwide export hub for cannabis. Halo’s planned acquisition of Bophelo brings together two socially-minded companies on a shared mission to better the communities in Lesotho.