High Hampton Expects No Changes to Legal Framework for California Business Operations as a result of U.S. Attorney General decision to rescind Cole Memo
TORONTO, Jan. 8, 2018 /CNW/ - High Hampton Holdings Corp. (CSE: HC)(FSE: 0HCN) ("High Hampton" or the "Company") wishes to respond to the U.S. Attorney General's recent decision to eliminate the Cole Memo and the related guidance on marijuana enforcement.
The Company expects no changes to the legal framework for its California-based CoachellaGro Asset as a result of this decision:
The memorandum represented a guidance; the same federal laws remain in effect;
High Hampton's current focus is medical cannabis with an option to pursue recreational cannabis opportunities in the future as a means to de-risk its operation;
The new directive effectively leaves the level of enforcement up to each state's attorney general; California's Attorney General is determined to move forward as planned with cannabis regulation;
High Hampton assembled a management team with extensive experience and expertise in cannabis regulation, at the local and state government levels, and will utilize this expertise to ensure that its business operations comply with all regulatory provisions.
High Hampton's CEO, David E. Argudo, conducted an interview with BNN on Thursday, January 4, 2018 in respect to the elimination of the Cole Memo and a possible impact to the company's business operations:
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 Californiacorporation 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.
