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TORONTO , Jan. 30, 2019 /CNW/ - High Hampton Holdings Corp. (HC.CN) (FSE:OCHN) ("the "Company") today announced that it has filed its Consolidated Unaudited Financial Statements for the quarter ended November 30, 2018 . The Consolidated Financial Statements and Management Discussion and Analysis are available on SEDAR at www.sedar.com.
Quarter ended November 30, 2018 Highlights:
- Liquidity remains strong with over $9 million in cash as at November 30th, 2018 .
- On October 3, 2018 , High Hampton announced that it had secured 7 Megawatts of power for its CoachellaGro facility.
- On November 12, 2018 , the Company completed the acquisition of Mojave Jane. Mojave Jane is a California licensed manufacturer of premium cannabis extracts and concentrates for the California markets. Based in Coachella, CA , and licensed for volatile and non-volatile manufacturing, Mojave Jane currently utilizes state of the art CO2 extraction technologies and proven distillation techniques to create products for both recreational and medical cannabis users.
- On November 15, 2018 , High Hampton announced the appointment of appointment of Gary C. Latham , an influential figure in the California cannabis market, to the role of Chief Executive Officer (CEO) for the Company. Mr. Latham is regarded as a leader with his hands-on experience in starting, building and growing middle market to Fortune 500 organizations and spent the last few years exclusively in the California cannabis space.
Subsequent to the quarter:
- On December 19, 2018 , High Hampton's subsidiary Mojave Jane announced the start of full-scale production at its extraction facility in Coachella for January 2019 .
- On January 10, 2019 , High Hampton announced that its subsidiary 420 Realty received six California State cannabis licenses to operate at its facility located in the City of Cudahy in the following categories: nursery, cultivation processing, cultivation, non-storefront retail, Type 7 manufacturing, distribution.
"The past quarter saw us heavily engaged in making the acquisitions of 2018 operational. Both Mojave Jane and CaliGold have cleared the States licencing hurdles and will begin generating revenues in January 2019 . Bravo, High Hampton's cornerstone distribution business, has made excellent progress toward operations as well and is expected to be licensed in May/ June 2019 . Once all of these assets reach their respective operational capacities the Company will be financially self-sustaining. We are excited by the potential of these assets and look forward to generating greater shareholder value', commented Mr. Gary Latham , Chief Executive Officer of High Hampton.
About High Hampton Holdings Corp.
High Hampton Holdings Corp. is a cannabis sector investment company focused on opportunities in California striving to become the largest consolidator in the medicinal cannabis sector. The Company has assembled a stellar team with cannabis, capital markets, compliance, political, licensing and brands & products supply chain experience and aggressively develops its wholly owned subsidiaries toward sustainable growth and active operations:
CoachellaGro Corp., a California corporation focused on the development of a 254,000 sq ft. greenhouse facility situated in the cannabis industrial park located in Coachella, California with a valid conditional use permit (CUP) for the development of a full-service production facility in order to serve third party state licensed medicinal marijuana operators.
420 Realty, LLC has applied for multiple permits to vertically integrate in the City of Cudahy, CA ( Greater Los Angeles Area ), for a development agreement (DA) including cannabis cultivation, nursery, manufacturing, delivery, and distribution licenses on a single parcel location. 8 Points Management, LLC serves the cannabis industry with sales, marketing, transportation, and supply chain management services through its subsidiary Bravo Distro LLC. Bravo's customers include California storefront dispensaries, delivery services, and chain stores, as well as non-retail accounts of cannabis such as manufacturers, cultivators, and the emerging CBD medical market of clinics, universities, research, veterinary, and other sciences with an expanding customer base.
CALIGOLD is serving the edibles market by crafting America's finest quality "medicinal-grade" cannabis edible products combining art and science to deliver innovative creations and adhere to important industry standards in consistency, dosing accuracy, and compound formulation.
Mojave Jane, LLC is a California licensed manufacturer of premium cannabis extracts and concentrates for the California markets. Based in Coachella, CA , and licensed for both volatile and non-volatile manufacturing, Mojave Jane currently utilizes state of the art CO2 extraction technologies and proven distillation techniques to create products for both recreational and medical cannabis users.
High Hampton trades in Canada , ticker symbol HC on the CSE, and in Europe , ticker symbol 0HCN on the FSE. Neither the CSE, nor the FSE has approved nor disapproved the contents of this press release. Neither the CSE, nor the FSE accepts responsibility for the adequacy or accuracy of this release.
Marijuana Industry Involvement
Canadian listings (CSE) will remain in good standing as long as they provide the disclosure that is rightly required by regulators and complying with applicable licensing requirements and the regulatory framework enacted by the applicable state in which they operate. Marijuana is legal in certain states however marijuana remains illegal under US federal law and the approach to enforcement of US federal law against marijuana is subject to change. Shareholders and investors need to be aware that adverse enforcement actions could affect their investments and that High Hampton's ability to access private and public capital could be affected and or could not be available to support continuing operations.
On behalf of the Board of Directors
High Hampton Holdings Corp.
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the intention of the parties to complete the Acquisition and certain ancillary transactions contemplated thereby. These transactions are subject to a number of material risks, and there is no assurance that they will be completed on the terms or within the timeframes currently contemplated, or at all. The forward-looking information contained in this press release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
All monetary references herein refer to Canadian dollars unless otherwise specified.
SOURCE High Hampton Holdings Corp.
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