High Hampton commences Los Angeles County Development Project
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TORONTO, March 14, 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 it has commenced the development of its main manufacturing and distribution centre located in the City of Cudahy, Los Angeles County.
After a necessary partial demolition, the construction and repair of the facility is now underway to implement upgrades to the existing structure that will accommodate cannabis nursery, manufacturing, processing, packaging and distribution operations, as well as, a non-retail storefront to be used for a delivery service. Conditional upon the execution of a Definitive Agreement with 2083 Group (as previously press released on February 28th, 2019), the delivery service will be provided by 2083 Group's SpeedWeed platform and serve the Greater Los Angeles area and beyond.
With temporary state licenses already secured by High Hampton's wholly-owned subsidiary 420 Realty to provide cultivation, manufacturing, non-retail storefront, and distribution for the facility, the Company expects to complete the Cudahy facility upgrade by the end of Q3 2019 with operations to commence shortly thereafter.
Tom Baird, COO of High Hampton, commented:
The development of the Cudahy facility, which is located in southeast Los Angeles County, is important to High Hampton for a number of reasons. It will provide a near complete stack of operations within the largest cannabis market in California and will be able to service both Southern and Northern California from its strategic location with both distribution capabilities and the delivery of retail products directly to consumers in the Los Angeles market.
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
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.