SEATTLE, Aug. 29, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- CFN Media Group (“CFN Media”), the leading agency and financial media network dedicated to the North American cannabis industry, announces publication of an article discussing High Hampton Holdings Corp. (CSE:HC) (HC.CN) (CNSX:HC) (FSE:0HCN). A Toronto-based company that fits the mould with a cultivation operation in Coachella, California, various ancillary product and services businesses, and now, a leading California cannabis brand that’s actively expanding its product line-up to reach a wider range of dispensaries across the state. Investors may want to take a closer look at the stock as it ramps up cultivation and expands its leading brand presence.
California’s cannabis industry is projected to reach $4.3 billion by 2021, driven by the legalization and widespread adoption of adult-use cannabis. Investors interested in building exposure to the state’s market may want to consider diversified players that are actively building both production and distribution footprints. That way, they can access the massive upside potential with less risk than concentrating on a single segment.
California’s Lucrative Cannabis Market
California’s recreational cannabis industry is projected to bring in $557 million in revenue next year, according to BDS Analytics and Arcview Market Research, which the analysts expect will reach $4.3 billion by 2021. Medical marijuana brings in another ~$2.7 billion these days, but that figure is expected to decline to $1.5 billion by 2021, as adult-use cannabis cannibalizes part of the legal cannabis market.
There are many different opportunities within the state’s cannabis industry, including cultivators, dispensaries, and brands. There are even a handful of publicly-traded companies that operate in these areas, although many of them are either very early-stage or don’t offer a pure-play on California’s market. Investors in U.S.-based companies also run the risk of federal-level interference in the corporations.
Building a Leading Distribution Network
High Hampton Holdings Corp. (CSE: HC) recently announced the close of the acquisition of CALIGOLD, a popular edibles brand with seven multi-strain flavoured, award-winning chocolate bars in dispensaries across California. Co-founders Daniel Hood and Jonathan Schwartz will remain with the company as it gears up to launch new products into California’s burgeoning cannabis industry over the near-term to unlock additional value.
“We will combine our expertise with the knowledge and entrepreneurial spirit of both, Daniel and Jonathan, to further expand CALIGOLD's market position, grow its revenue and diversify its product line,” said High Hampton CEO David E. Argudo. “CALIGOLD with its award-winning products and established distribution network bolsters our growing position in California and fits perfectly with our consolidation strategy for this burgeoning market.”
The company will immediately commit USD $2.6 million to CALIGOLD to further its product development, marketing, sales, and working capital. In addition, CALIGOLD will work closely with its new sister companies, including CoachellaGro and 8 Points Management, as well as the High Hampton executive team, to leverage their distribution channels and realize the many synergies that exist within the broader focus on California’s market.
Looking Ahead
High Hampton Holdings Corp.’s (CSE: HC) acquisition of CaliGold furthers its distribution and reach into California’s lucrative cannabis industry. In addition to the new acquisition, the company has exposure to cannabis cultivation through its 254,000 sq. ft. CoachellaGro project, as well as exposure to other ancillary products and services through its 420 Realty LLC and 8 Points Management LLC subsidiaries.
For more information, visit the company’s website or follow them on Facebook, Twitter, or LinkedIn.
Please follow the link to read the full article: http://www.cannabisfn.com/high-hampton-holdings-expands-california-network-caligold-acquisition/
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Frank Lane
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Flane@cannabisfn.com