In early February, High Hampton Holdings (CSE:HC) (OTC:HHPHF) said it plans to become a distribution leader in the California cannabis sector. The company also said it wants to become a brands leader in the same market. Now the end of February, we have seen High Hampton exercise these plans in two significant ways.
A Busy Month for High Hampton Holdings
High Hampton Holdings is based in Toronto, Canada; but it recognizes that there is a dynamic legal cannabis market in the state of California. At the beginning of the month, CEO Gary Latham said that companies must “evolve their products and brands to match consumer demands” to thrive in this market. In an attempt of doing this, on February 27th, High Hampton, through its subsidiary CALIGOLD, launched three new cannabis edibles products to California dispensaries.
That’s not all, though. Today, February 28th, the Canadian cannabis company said it signed a Letter of Intent (LOI) with 2083 Group, Inc. This is a well-known cannabis innovator in California. On the news, High Hampton’s stock moved into the green zone on the OTC market as well as the CSE.
According to Yahoo Finance, at market close on the OTC market, HHPHF stock closed the day up 3.12%. On the CSE, HC stock closed up 5.33%.
What Does the Latest High Hampton LOI Entail?
It’s not surprising both the HHPHF stock and HC stock closed in the green today. After all, signing a binding LOI with California’s 2083 Group means High Hampton will now be able to obtain market data, leading to its understanding of consumer demands in the California cannabis sector. Once it has a solid understanding, the company can shape its products around those demands. And from CEO Gary Latham’s previous comments, we know this is precisely how a company is going to succeed in the California market.
Speaking on Thursday’s news, Latham said the partnership with 2083 Group, Inc., which is known for their Speedweed delivery services, “will be invaluable in influencing our brands and products.” Latham also said the 2083 Group has the “It factor.”
It’s an exciting time for High Hampton Holdings. The California cannabis market is unfolding, and the company is making all the right moves to succeed in it. Will the HC stock and HHPHF stock make moves as well, though? Let us know what you think in the comments below!
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