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TORONTO, April 10, 2019 /CNW/ - High Hampton Holdings Corp. (CSE: HC) (FSE: 0HCN) ("High Hampton" or the "Company"), a cannabis brand and distribution company in the U.S. market, is pleased to announce that the City Council of West Sacramento unanimously approved the adoption of a Development Agreement (DA) between the City of West Sacramento and High Hampton's wholly owned distribution arm Bravo Distro for a Conditional Use Permit (CUP). The approval permits Bravo and High Hampton to operate a wholesale cannabis distribution facility in the City's M-1 zone.
"The adoption of this Development Agreement signals that the city approves High Hampton's plan to build and operate a large scale distribution hub", commented High Hampton CEO Gary Latham. "In the parlance of California's cannabis regulatory framework, this is a huge step forward. The state relies heavily on the judgement of local government as a first step in determining the suitability of a location and an operator for a licensed cannabis business. As a result, the process for obtaining agreements such as this Development Agreement with the City of West Sacramento is quite involved and demands review and approval of facility, operations, and security plans to name a few. Quite correctly, the city wants to get it right before they allow a business to move forward with cannabis operations, and we are pleased to have successfully completed this process."
High Hampton plans to begin construction on its West Sacramento facility upon a City Plan Check which is expected to be scheduled in the coming weeks. With the facility buildout underway shortly, the Company plans to add the West Sacramento facility to its growing network of operational hubs by the end of Q4 of this year. At about 15,000 sq ft, the Sacramento facility is ideally suited for distribution and will become a crucial hub in serving Northern California, while the Company's Cudahy facility in Los Angeles County will serve the Southern California market.
About High Hampton Holdings Corp.
High Hampton Holdings Corp. is a Canadian-based cannabis sector brand and distribution 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 a distribution arm through BRAVO DISTRO; branding, packaging, manufacturing & processing carried out through MOJAVE JANE and CALIGOLD; and cultivation to scale via COACHELLAGRO and 420 REALTY. Operating out of licensed strategic locations within the state, High Hampton is leveraging its brand-focused business model to generate sustainable profits delivering quality product by recognized brands.
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; Gary Latham, Chief Executive Officer, Email: email@example.com, Phone: 703.629.5338, Christian Scovenna, Director, Email: christian@HighHampton.com, Phone: 416.453.4708