High Hampton Provides Update on introduction of REFER Act of 2018 proposal to protect state-legal Cannabis from "excessive federal enforcement"
TORONTO, Jan. 17, 2018 /CNW/ - High Hampton Holdings Corp. (CSE: HC)(FSE: 0HCN) ("High Hampton " or the "Company") wishes to provide an update on a new federal act proposal that was introduced on Friday, January 11 by California Congresswoman Rep. Barbara Lee into the US House to protect state-legal Cannabis from "excessive federal enforcement". The Restraining Excessive Federal Enforcement & Regulations of Cannabis (REFER) Act of 2018 would prohibit federal agencies from spending money to "detain, prosecute, sentence, or initiate civil proceedings against an individual, business or property, that is involved in the cultivation, distribution, possession, dispensation, or use of cannabis" if those actions are in compliance with a state law or any local regulations in effect.
The new bill would effectively expand the protection of the Rohrabacher–Blumenauer amendment, which prohibits the Department of Justice from arresting and prosecuting medical marijuana patients and providers in legal states, to include adult-use cannabis, to apply to all federal agencies and to be permanent.
David E. Argudo, CEO of High Hampton, commented:
"I am pleased to see that Congresswoman Barbara Lee, a California representative, has introduced new legislation that would permanently protect state-compliant operators from excessive federal enforcement. The REFER Act of 2018 builds upon the Rohrabacher and Blumenauer Bill by making it permanent and not having to renew it each year. In addition, the legislation expands the protection to cover recreational cannabis.
I am very optimistic that, in 2018, we can expect more discussion at the federal level than ever before. With the introductions of several bills, it is an indication that the federal government is interested in addressing and resolving the issue that hinders the cannabis industry's progress. We will see discussions on banking, descheduling cannabis, controlling the industry like alcohol and much more. This development provides High Hampton with solid confidence as we embark on a sure to be eventful year for the company."
The Company also wishes to announce that it has issued a total of 4,434,341 shares as a result of recent warrant and debenture exercises for additional proceeds to its treasury totaling $866,727.
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.
