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TORONTO , Jan. 10, 2019 /CNW/ - High Hampton Holdings Corp. (HC.CN) (0HCN.F) ("High Hampton" or the "Company") is pleased to announce that its wholly owned subsidiary 420 Realty LLC ("420 Realty") has received six California State cannabis licenses to operate at its facility located in the City of Cudahy .
On December 9, 2018 , the City of Cudahy officially executed the Development Agreement (DA) with 420 Realty which granted full local authority to develop the property and conduct cannabis business operations under the conditions set forth in the development agreement. Shortly thereafter, 420 Realty submitted six applications to the State for temporary licensing. All six applications were approved by the State for operations in the following categories:
- cultivation processing
- non-storefront retail
- Type 7 manufacturing
"With the development agreement and temporary licenses in hand, we can begin development of the facility in Cudahy , which is a central part of High Hampton's strategy to serve the lucrative Southern California market", said High Hampton CEO Gary Latham . "Demolition work is set to commence shortly, followed by the facility improvements that will provide a first class home to the growing portfolio of our operations, from manufacturing to infusions/edibles to distribution. We look forward to working with the State to transition these temporary licenses to annual licenses, a process that has already begun. In the meantime, our temporary licenses allow us to conduct business with other licensed operators for the next 180 days."
The Cudahy facility represents a strategic location for High Hampton to take its brands into the Southern California market, including CALIGOLD and Mojave Jane. Bravo Distro will also operate out of the Cudahy facility, providing distribution services for High Hampton's brands and other high quality products.
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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