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TORONTO, June 7, 2018 /CNW/ - High Hampton Holdings Corp. (CSE: HC)(FSE: 0HCN) ("High Hampton" or the "Company") today announced that the City of Coachella's Planning Commission has ratified through resolution the amended conditions and parking variance requested by High Hampton. When the approval was given on May 2, 2018 (as press released May 3, 2018), it officially granted the Company's 10.8 acre CoachellaGro property a conditional use permit for the cultivation of medicinal cannabis. In addition to the resolution, the 30 day appeal period, in which anyone from the public could challenge the project, has now expired.
The CoachellaGro asset is strategically located in a medicinal cannabis business zone 45 kms east of Palm Springs, 72 kms east of Riverside and 210 kms east of Los Angeles. High Hampton originally purchased the property in 2017 and applied for a conditional use permit (CUP) with the objective to operate a 194,000 sq.ft greenhouse facility for the purpose of medicinal cannabis farming. With all necessary approvals in place, the Company has retained Vertical Construction Co. out of Irvine, CA, a full-service builder specializing in ground-up construction for office, retail, biomedical and pharmaceutical environments. GMP Certified, Vertical Construction is capable of working under strict regulatory guidelines and conditions, an ideal match for the specific construction needs of CoachellaGro.
David E. Argudo, CEO of High Hampton, commented:
"On behalf of our entire team, I would like to thank the City of Coachella, Council, and the Planning Commission for their support. Now with the adoption of the resolution, variance and the 30 day appeal process behind us we can start the construction documentation process. We have retained Vertical Construction Co. to assist us in the design build and provide input on the design process, early value engineering and all the required coordination and consulting involved in the construction.
With a conditional use permit for CoachellaGro in hand, we have created instant added value for this asset which will remain the cornerstone of our business model and be complemented by the aggressive acquisition process we have begun this spring as we consolidate the California cannabis market."
About High Hampton Holdings Corp.
High Hampton Holdings Corp. is a cannabis sector investment company focused on opportunities in California. The Company's wholly owned subsidiary, CoachellaGro Corp., is a California corporation focused on the development of a 10.8-acre property situated in the proposed cannabis industrial park located in Coachella, California. CoachellaGro has received a conditional use permit for development of a full-service production facility in order to serve third party state licensed medical marijuana operators. The City of Coachella has been progressive in setting up city ordinance that sets aside over 90 acres within which will be a legal framework for the cultivation, production, extraction and transportation of cannabis. The complex is intended to contain all the necessary; security, infrastructure, equipment, labour and skilled management, supplies and ancillary services for a closed loop production process flow.
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 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.
For further information: 8 Wellington St. E. Mezzanine Level, Toronto, ON, M5E 1C5, www.HighHampton.com; David E. Argudo, Chief Executive Officer, Email: [email protected], Phone: 1.844.420.CALI Or Christian Scovenna, Director & VP Corporate Finance, Email: [email protected], Phone: 1.844.420.CALI