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TORONTO , July 31, 2018 /CNW/ - High Hampton Holdings Corp. (HC.CN)(0HCN.F) ("High Hampton " or the "Company") is pleased to announce, that further to its news release on April 18, 2018 , the Company has acquired 100% of all outstanding shares of HS Airway Holding ("CALIGOLD"), a California corporation owning the CALIGOLD Edibles brand (the "Transaction").
In addition to the Company's licensed CoachellaGro asset, CALIGOLD is now the fourth 100% owned subsidiary adding to High Hampton:
- A well-established and recognized edibles brand
- 7 multi-strain flavoured award-winning chocolate bars in dispensaries across California with other products ready to launch
- 18 years of combined experience to the Company's management team between Co-founders Daniel Hood and Jonathan Schwartz
In consideration for all the issued shares of CALIGOLD, the shareholders of CALIGOLD received 13,090,905 shares in the capital of High Hampton and such shares are subject to escrow and released on certain dates or conditions. Pursuant to the Transaction, High Hampton has made available US$2.6 million to CALIGOLD to further its product development, marketing, sales and working capital.
David E. Argudo , CEO/Director of High Hampton, commented:
"We are very proud to be able to bring the highly-recognized CALIGOLD brand to High Hampton. Now we will combine our expertise with the knowledge and entrepreneurial spirit of both, Daniel and Jonathan, to further expand CALIGOLD's market position, grow its revenue and diversify its product line. CALIGOLD with its award-winning products and established distribution network bolsters our growing position in California and fits perfectly with our consolidation strategy for this burgeoning market."
Daniel Hood , Co-Founder of CALIGOLD, stated:
"We are very excited to build our future in the cannabis industry together with the High Hampton group of companies. We look forward to working with our sister companies; CoachellaGro and 8 Points, as well as, the High Hampton executive team as they continue to build a solid portfolio of vertically integrated Cannabis companies."
CALIGOLD is crafting America's finest quality cannabis product combining art and science to deliver innovative creations and adhere to important industry standards in consistency, dosing accuracy, and compound formulation. In 2014, Daniel Hood , an artisan chocolatier, noticed a gap in the cannabis chocolate market. By introducing consumers to gourmet ingredients and strain-specific infusions, CALIGOLD took the edible market by surprise. CALIGOLD chocolate won 1st place at HempCon in 2014 for best edible then again at Edibles List Magazine in 2017 for their THCa chocolate. Recently, CALIGOLD has also announced other THC, THCa and CBD products to further diversify its innovative product line. By setting high standards in rigorous dosing measurements whilst publishing data, CALIGOLD guarantees safe experiences for first-time users. Driven by R&D and innovation, CALIGOLD shall continue to set new benchmarks for the Cannabis industry.
Co-Founder Daniel Hood has over 10 years' experience in Cannabis cultivation and has co-founded La Serrana Eco Farm and Hostel in Salento, Colombia before he started to infuse cannabis into Colombian-sourced cocoa in 2014.
Jonathan Schwartz joined CALIGOLD shortly after its inception in 2014 as the first official investor. He is accustomed to building brands having built four businesses in Colombia with no capital and has had a successful career in real estate, mortgage banking and franchise sales.
Jonathan now focuses on expanding the sales and distribution platform for CALIGOLD as the VP of Sales.
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 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.
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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