High Hampton Announces Extension of Period to Conclude Previously Announced Acquisition of CALIGOLD Inc.
High Hampton Holdings Corp (CSE:HC) today announced that it has extended the period to conclude a binding Letter of Intent (the “LOI”) with California Gold Inc. (“CALIGOLD”) to acquire 100% of all outstanding shares of CALIGOLD as an all-share transaction (the “Transaction”). Both, CALIGOLD and High Hampton, expect to meet all conditions to complete the previously announced Transaction (as per April 18th press release) on or before three weeks from the original closing date of April 30th.
David E. Argudo, CEO of High Hampton, commented:
“We had high ambitions to close this Transaction in a very short time frame; however, we need to allow enough time for proper due diligence, as well as, ensuring we set the proper legal framework to add CALIGOLD to the High Hampton family of companies. I am confident that both of our teams will conclude this process to our full satisfaction and in the best interest of our shareholders.”
CALIGOLD is crafting America’s finest quality cannabis product combining art and science to deliver innovative creations and adhere to important industry standards in consistency, dosing accuracy, and compound formulation. In 2014, Daniel Hood, an artisan chocolatier, noticed a gap in the cannabis chocolate market. By introducing consumers to gourmet ingredients and strain-specific infusions, CALIGOLD took the edible market by surprise. CALIGOLD chocolate won 1st place at HempCon in 2014 for best edible then again at Edibles List Magazine in 2017 for their THCa chocolate. Recently, CALIGOLD has also announced other THC, THCa and CBD products to further diversify its innovative product line.
By setting high standards in rigorous dosing measurements whilst publishing data, CALIGOLD guarantees safe experiences for first-time users. Driven by R&D and innovation, CALIGOLD shall continue to set new benchmarks for the Cannabis industry.
Co-Founder Daniel Hood has over 10 years experience in Cannabis cultivation and has co-founded La Serrana Eco Farm and Hostel in Salento, Colombia before he started to infuse cannabis into Colombian-sourced cocoa in 2014. Jonathan Schwartz joined CALIGOLD shortly after its inception in 2014 as the first official investor. He is accustomed to building brands having built four businesses in Colombia with no capital and has had a successful career in real estate, mortgage banking and franchise sales. Jonathan now focuses on expanding the sales and distribution platform for CALIGOLD as the VP of Sales.
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 over 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.