High Hampton expands California marijuana holdings with $8.1 million deal
Toronto-based High Hampton Holdings continued to grow its California presence by acquiring an edibles maker for $8.1 million. The deal – which includes all assets of HS Airway Holdings, the owner of the CaliGold Edibles brand – marks the fourth California-based company acquired by High Hampton, a cannabis investment firm. Under terms of the deal, shareholders of CaliGold received 13.09 million High Hampton shares, valued at roughly $5.5 million. CaliGold also received $2.6 million from High Hampton to further its product development, marketing, sales and working capital, according to a release issued by High Hampton. Other California-based assets owned by High Hampton include: CoachellaGro Corp., a firm overseeing the development of a 254,000-square-foot cannabis greenhouse in Coachella, California 420 Realty, a Cudahy, California-based company that has applied for permits to grow, manufacture and distribute cannabis. 8 Points Management, which provides sales, marketing, transportation and supply-chain support services to cannabis retailers, manufacturers and cultivators.