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TORONTO, Feb. 12, 2019 /CNW/ - High Hampton Holdings Corp. (CSE: HC) (FSE: 0HCN) ("High Hampton" or the "Company") is pleased to announce an evolution of its strategy to properly align with the dynamic legal cannabis market in California. The strategy fully leverages the acquisitions and investments High Hampton has made during 2018 allowing it to become one of the few truly vertically integrated companies in California. As a result, it positions High Hampton for growth across the entirety of its portfolio and to fully execute on its brands and distribution assets.
With the vision of being "brand forward", High Hampton will focus on four key strategy elements:
- First, High Hampton will own and operate the processes that allow the company to manufacture, infuse, and package high quality, branded products to the recreational and wellness markets.
- Second, the company will own and operate the paths to market for those and other branded products through distribution capabilities in the state's most lucrative markets in Southern and Northern California.
- Third, High Hampton will take advantage of the valuable data and insights collected through distribution to understand market demands and express the answers to those demands in real time through new products and brands that will in turn be produced by its California manufacturing businesses.
- Finally, the company will control its supply chain, starting with product-focused strains in its Los Angeles (Cudahy) nursery and continuing through the cultivation cycle.
Gary Latham, CEO of High Hampton Holdings, comments:
"This is an exciting time for High Hampton. Our acquisitions are fully taking shape, and we will be in revenue early in 2019, with an aggressive growth path through the year and beyond. As the legal cannabis market in California continues to unfold and consumers turn more and more to licensed outlets for their products, it is evident that the companies that will thrive here will be the ones that can evolve their products and brands to match consumer demands. Brands will dominate this marketplace over time, and consumers will have tremendous influence over what those brands bring to the market and how they get it there. Starting with Mojave Jane and CALIGOLD, High Hampton will be fully focused on creating, managing, adapting, and delivering branded cannabis products to channel those demands across the adult use and wellness markets."
Tom Baird, COO of High Hampton Holdings, added:
"We have also begun to evaluate and assess new geographies for expansion in a manner that will be consistent with the footprint we create in California. Everything we are doing is set up as a repeatable model in new locations as we expand, allowing us to see a path to accelerated growth with our ability to execute at the core."
To better address its operational demands and the specific needs of the U.S. marketplace, High Hampton will also be adjusting the corporate structure of its U.S. holdings. The Company will establish two corporate entities in California; with the first managing all operations and personnel that have a direct relationship with cannabis products and the second managing all operations and staff associated with HR, finances, legal, etc.
About High Hampton Holdings Corp.
High Hampton Holdings Corp. is a Canadian-based cannabis sector investment company emerging as a true vertical integrator in California's legal cannabis space serving recreational and wellness markets. The Company's U.S. holdings are comprised of assets set up as a vertical stack including distribution, branding & packaging, manufacturing & processing, and cultivation to scale based on its own production requirements. Operating out of licensed strategic locations within the state, High Hampton is leveraging its consumer-driven business model to generate sustainable profits delivering quality product by recognized brands:
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's other California assets include:
CoachellaGro Corp., a California corporation with a 10.8 acre property 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.
420 Realty, LLC has been awarded 6 temporary licenses by the state to vertically integrate in the City of Cudahy, CA (Greater Los Angeles Area) including cultivation (processing only), retail non-storefront (delivery only), distribution, cultivation (nursery), cultivation (flower) and type 7 manufacturing.
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.
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: High Hampton, please contact: 8 Wellington St. E. Mezzanine Level | Toronto, On | M5E 1C5 | www.HighHampton.com; Gary Latham, Chief Executive Officer, Email: [email protected], Phone: 703.629.5338; Christian Scovenna, Director, Email: [email protected], Phone: 416.453.4708