TORONTO, Dec. 11, 2017 /CNW/ - High Hampton Holdings Corp. (CSE: HC) (FSE: 0HCN) ("High Hampton" or the "Company") is pleased to announce that its Board of Directors has appointed David E. Argudo as new Chief Executive Officer to the Company. Mr. Argudo has been an invaluable asset to the Company in facilitating the application process for the Conditional Use Permit ("CUP") for its wholly owned CoachellaGro Asset within the Coachella cultivation zone and is now taking the reigns as the Company nears active operations.
Mr. Argudo is a currently elected City Official and brings a near decade of political experience and over 25 years of leadership in Cannabis advocacy work to High Hampton. Mr. Argudo helped pass the Compassionate Act (known as Prop. 215) in 1996 and has since consulted and developed cannabis policies for states and local municipalities, as well as, pioneered local tax measures for cannabis in California.
In addition to over 25 years of technical expertise in Cannabis cultivation, manufacturing, retail and distribution, he brings along extensive cannabis experience pertaining to the areas of biopharmaceuticals, cancer research, real estate and mortgage financing and has helped license over 420k sq. ft. of Cultivation/ Manufacturing Building Space. Mr. Argudo is a Member of the California Growers Association and a Member of the Humboldt Interdisciplinary Institute for Marijuana Research (HiiMR). Equipped with international consulting experience in countries like Germany, Colombia, and Chile, Mr. Argudo extends High Hampton's cannabis expertise beyond the U.S.
David E. Argudo, CEO of High Hampton, commented:
"As an inherent part of the High Hampton family, I am excited to now take on a leading role with the goal to build this Company into a multibillion dollar organization. First, I would like to thank the Shareholders, Board of Directors, and Team Members for their trust, support and confidence that they have given me.
Our mission is to be strategically aggressive first movers in the cannabis space not only in California and the USA but internationally, as well. Our primary focus will be consolidating California while exploring other markets and opportunities. I believe that there are three important fundamental pillars that drive success in this industry, and the individuals managing High Hampton are exemplary in covering these by having 1. A strong capital markets team, 2. A strong Political team and 3. A strong Cannabis team. I look forward to building and creating compelling investment opportunities and sustainable value for our shareholders."
Daniel Petrov, COO of High Hampton, adds:
"We welcome David E. Argudo in this leadership position to further ensure the vital role High Hampton will play as the adult use market is activated within the state of California. Already ranked among the world's top 10 economies, California accounts for nearly half of the nation's legal cannabis sales. Come January 1st, adult use legalization will make the State of California the new epicentre in cannabis.
High Hampton will be the first Canadian company to be led by a native Californian who deeply understands how to navigate the complex and ever changing cannabis market. David will be critical to High Hampton's plans to solidify itself within the United States largest pot economies."
The Company wishes to thank Brendan Purdy who has stepped down from his position as Chief Executive Officer to solely focus on his role as Chairman of the Board of Directors of High Hampton.
About High Hampton Holdings
High Hampton Holdings 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 is in the application process for 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 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 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.
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]; Or Christian Scovenna, Director & VP Corporate Finance, Email: [email protected]