High Hampton Responds to Positive CSA Notice on Disclosure Expectations For Issuers With U.S. Marijuana-Related Activities and Announces Increase to Previously Announced Non-Brokered Private Placement Offering
High Hampton Holdings Corp (CSE:HC) (“High Hampton” or the “Company”) today responded to a recent revision of Canadian Securities Administrators (“CSA”) Notice 51-352 on issuers with U.S. Marijuana-Related Activities (the “CSA Notice”).
David E. Argudo, CEO of High Hampton, commented:
“We are very encouraged by the recently published positive CSA notice as it brings more certainty for issuers and investors alike in regards to disclosure expectations. By further clarifying what is expected of an issuer, the CSA offers valuable guidance on disclosure necessities and further reiterates its commitment to follow this disclosure-based approach. High Hampton will continue to offer transparent disclosure to its growing investor base.”
In connection with the Company’s previously announced non-brokered private placement on February 9, 2018, the Company has increased the size of the financing (the “Offering”) to 20,000,000 units for gross proceeds of $12,000,000. The Offering may also be completed pursuant to Multilateral CSA Notice 45-318, Prospectus Exemption for Certain Distributions through an Investment Dealer (“CSA Notice 45-318”), and the corresponding blanket orders and rules implementing CSA Notice 45-318 in the participating jurisdictions in respect thereof. As of the date hereof, the exemption available under CSA Notice 45-318 (the “Investment Dealer Exemption”) is available in each of Alberta, British Columbia, Saskatchewan, Manitoba and New Brunswick. Pursuant to CSA Notice 45-318, each subscriber relying on the Investment Dealer Exemption must obtain advice regarding the suitability of the investment from a registered investment dealer. There is no material fact or material change of the Company that has not be generally disclosed.
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.
SOURCE High Hampton Holdings Corp.