California Cannabis Market Expected to Reach $5.1 Billion Market Value - Seite 2

MadMen Enterprises recently broke ground on a high-tech cannabis factory in Desert Hot Springs, California, the company's second large-scale marijuana cultivation and manufacturing facility, reports New Cannabis Ventures. "The Desert Hot Springs facility is scheduled to open in early 2019 and service California's fast-growing adult-use marijuana market."

Even High Hampton Holdings Corporation (CSE: HC) (OTC: HHPHF) is just beginning to gain momentum, advancing its foothold in California's cannabis market through acquisitions and property development.

High Hampton Holdings' Dominance in California 

High Hampton Holdings offers an interesting opportunity in the state's cannabis market, as it actively seeks to consolidate California's cannabis industry through equity, royalty and direct property ownership with licensing agreements. For example, the company's CoachellaGro Corp. is developing a 10.8-acre property that it plans to develop into a cannabis industrial park. On May 2, 2018, the City of Coachella's Planning Commission granted a conditional use permit for the cultivation of marijuana.  

"With a conditional use permit for CoachellaGro in hand, we have created instant added value for this asset which will remain the cornerstone of our business model and be complemented by the aggressive acquisition process we have begun this spring as we consolidate the California cannabis market," said High Hampton CEO David E. Argudo.

The company also announced it had entered into a binding agreement with 8 Points Management and its subsidiary Bravo Distro, a fast growing California cannabis distributor, to acquire 100% of all issued and outstanding shares of both 8 Points and Bravo. The deal will provide High Hampton Holdings with immediate access to a major distribution hub in Sacramento, California.

"Securing distribution is a crucial if not the most important component of a successful business model for the California cannabis market," says CEO Argudo. "In 8 Points Management we have found a well-positioned operator that offers a full-service distribution model for our industry that will help us establish access to major distribution hubs in strategic locations throughout California including a prominent location in West Sacramento. Their team is renowned for already starting and operating another highly successful cannabis distribution outlet, and together, we are poised to succeed in building a leading cannabis distributor in California."