SOURCE: Halberd Corporation

October 23, 2014 09:45 ET

Halberd Signs Definitive Agreement for Medicinal Marijuana Farming Operation

SOUTHFIELD, MI--(Marketwired - Oct 23, 2014) - Halberd Corporation (PINKSHEETS: HALB) announces a definitive agreement with Gear International of Washington, Inc. The contract is part of a financing transaction for fixed payments from two different licensed medicinal marijuana farming operations. The properties involved are located in Michigan and Canada. These farms are currently operating and with Halberd's financing will be able to expand to be able to produce at a higher rate. The financing will be done in part through the issuance of shares of Halberd Corporation and other participants. The combined annual payments for both properties will be in excess of 3 million dollars annually. Revenue streams from this operation will commence in approximately 6-8 months. The 3 million dollars annually will continue indefinitely. This will give Halberd Corporation the cash flow to expand all of their operations even further. In addition, Halberd Corporation will receive shares from the four other participating companies at a market value in excess of 1 million dollars.

John Maddox, CEO of Halberd Corporation states, "This agreement shows the ability of Halberd to continue its growth as a diverse holding company. We continue to look for opportunities that will give our shareholders tremendous value. This transaction illustrates the abilities of our management team to look at the present and future and to create opportunities for Halberd Corporation's success."

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