Disclosure NewswireTMiCrowdNewswire - Dec 7, 2017
TORONTO, – High Hampton Holdings Corp. (CSE: HC)(FSE: 0HCN) (“High Hampton” or the “Company“) is pleased to announce that it has received positive results of a preliminary geotechnical investigation and infiltration study on the proposed cannabis cultivation facility for its wholly owned CoachellaGro Asset within the Coachella cultivation zone. The report is part of the ongoing application process for the Conditional Use Permit (CUP) which is expected at the end of 2017 or early 2018.
The report was prepared by P.A. Associates Inc., based in Irvine, CA, and will be used by civil and structural engineers as a guidance and basis for their design of earthwork and foundation systems. It establishes the basic soil parameters of the project and has indicated that the project site is constructible after having analyzed items such as seismicity, soil bearing concerns, soil percolation rates (for the ponds), and various other components. The proposed cannabis facility will be comprised of a 167,916 square foot greenhouse area and 39,832 square foot production, extraction and administration facility.
Currently, the Company is awaiting comments from the Coachella City Staff on the proposed facility layout followed by a meeting of the City’s planning commission to approve the CUP application. The final step will be a presentation of the development plans to the Coachella City Council where a decision on the granting of a CUP is expected at the time of the presentation.
David E. Argudo, VP Corporate Development and Director to the Company, commented:
“We are very pleased with the favourable results of this preliminary geotechnical investigation and infiltration study. In addition to the recent approval by the Coachella City Council of cannabis greenhouse facilities (see press release November 7, 2017) this positive soil report is bringing us another step closer to the Conditional Use Permit, breaking ground on the facilities and the start of cultivation.”
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.