Toronto-based High Hampton Holdings continued to grow its California presence by acquiring an edibles maker for $8.1 million.
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.