The California cannabis industry is blooming! Yes, we know. Production, distribution and sales of recreational marijuana became legal from Jan. 1, 2018.You can now order online pot or visit a marijuana dispensary without fear of being harassed or arrested by the authorities. According to BDS Analytics, the California marijuana industry is likely to hit $3.7 billion in 2018 and $5 billion by the end of 2019. It is also estimated that the whole of U.S. cannabis industry assets will be worth $24.5 billion in 2021. The infant marijuana industry is growing larger by the day, and investors are really keen on how they could benefit from the California market. Taking the first attempt at consolidating the California cannabis industry, High Hampton Holdings-
“will be leasing cultivation facilities to licensed…cannabis operators while retaining the option to acquire tenant licenses in the future. High Hampton plans to expand offerings to cover all of capital, compliance, licensing and management needs of brands and operators in the cannabis space.”—InvestingNEws.com.
High Hampton Holdings Corp (CSE:HC) is a Canadian cannabis market investment company based in Toronto, and with a lot of interest in the California marijuana industry. With its acquisition of CoachellaGro Corp, a fully owned subsidiary which is uniquely positioned in a rapidly growing California industry has a CUP (Conditional Use Permit) for its 10.8-acre asset in the Coachella cultivation zone in California. Although the company focuses primarily on the cultivation and distribution of medicinal weed in order to mitigate its risks and provide high-value products, the company is willing to make policy updates as new legalization laws which are currently effective in the state.
Coachella is ready to be awarded CUP. It will join Cultivation Technologies Inc. and Del-Gro on the list of companies to be granted CUP. It will enable them to launch a full-service production facility to aid third party state licensed pot growers. This construction project will consist of three 150,000 square feet structures which are divided into fifteen parcels of 10,000 square feet each.
In 2016, David E. Argudo, the new Chief Executive Officer of High Hampton Holdings was reported saying-
“we’re one of the first to actually plan it so the infrastructure is there and the policy side is there. Being in Coachella is a very attractive value-added component…I strongly believe that the legalization of medical and recreational marijuana creates a large opportunity for cannabis businesses in California…I am proud of the experience within our team to guide us in this important planning stage within the framework of the new regulations, and I am confident that we have the team to meet all future compliance obligations within the evolving regulatory framework such as tracking each of our plants from seed to sale within the deployed track and trace regulatory system METRC.”
High Hampton is preparing to launch its operations in Coachella in a grand manner. On Dec. 20, 2017, it engaged CFN Media Group to conduct a four-month investor and market visibility program that will end in April. This process was carried out to help attract a wider following for the company, by powering its reach to conventional marijuana-focused investors and media across the U.S. and Canada. CFN Media Group is the foremost creative agency and media network dedicated to the global cannabis industry. They have resources to help marijuana companies attract investors, capital, and publicity. Private, pre-public and public marijuana companies in the US and Canada rely on CFN Media to grow and succeed.
With its CoachellaGro asset and a reputation for best practices in its sector, High Hampton Holdings has circumvented many of the challenges associated with the industry, as concerns zoning and regulations. This, therefore, represents a persuasive investment opening for legal marijuana businesses. The company has the confidence that they are at a “low-risk play in California’s Nascent Cannabis Industry,” according to CFN Media. Projections indicate that the California industry will reach $6.5 billion in 2020, attaining the record of the largest cannabis market in the world. It is also projected that the state’s massive tourism industry and historical pedigree on marijuana will boost the growth of the industry in the coming years.
The farming conditions for many growers are yet to meet the new standards set for the cultivation of cannabis. Their most viable option will be to relocate their operations to cultivation facilities that local governments have already granted Conditional Use Permits to. A zoned facility like CoachellaGro is always in high demand. The greatest challenge many professional cannabis producers have is raising the capital to acquire land in suitable locations and building standard facilities in order to grow their businesses. Therefore, Coachella becomes a destination for marijuana cultivation operations that meet the new standards.
A Californian Congresswoman Rep Barbara Lee introduced a fresh federal act proposal that would protect cannabis operations that are state-legal from excessive federal enforcement. There are signs of progress when it comes to federal concerns. The introduction of several bills indicates that the federal government is interested in talking about the issues that impede the marijuana industry’s progress, and also in resolving them.
