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CCIM: On December 11, David E. Argudo was appointed CEO. What is this significance to all stakeholders (not just shareholders) of this appointment?
HC: First of all I would like to thank the board and the shareholders for their trust and confidence that the have given me to run High Hampton. The significance of my appointment as CEO to all stakeholders is that High Hampton has brought onboard an individual that has the experience, relationships and resources in the space to create a dominant publicly traded company in California. As most of you know California is a complex, diverse, economic powerhouse with the largest markets in the world in which it needs a unique well balanced individual who understands the ever changing political landscape, the cannabis space and the capital markets. Also, California has a very regionally diverse marketplace and understanding how it interconnects within the different region gives High Hampton the competitive advantage of having me as CEO.
CCIM: On December 19th, it was announced that High Hampton received positive comprehensive results from CEQA-compliant Environmental Study. That must have been very welcome end of year news.
HC: Absolutely, what a nice holiday gift for us at High Hampton. The favorable results of the Environmental Study was a big step for us moving forward with the project.
CCIM: Now … the elephant in the room. The Trump administration unilaterally rescinded the Cole Memo and that was soon met by the introduction of the bill known as the “REEFER Act”. Ironically, if adopted, this Act would enshrine in law what were once only guidelines with some added breakthroughs such as limited Banking privileges. Notwithstanding, the Judiciary branch has a budget of $0.00 to investigate, charge, and prosecute any person or business in full lawful compliance with State law. In August of 2016, the 9th District Circuit ruled similarly. What is the actual significance first of rescinding the Cole memo and second of the “REEFER Act” bill?
HC: Well not sure if I would go as far as to say that the Trump Administration unilaterally rescinded the Cole Memo. I believe that it was an action of Mr. Sessions. However the Cole memo focused on certain priorities related to State Cannabis operations such as preventing distribution to minors, diversion, products going to criminal enterprises to name a few.
CCIM: On December 19th, it was announced that High Hampton received positive comprehensive results from CEQA-compliant Environmental Study. That must have been very welcome end of year news.
HC: Absolutely, what a nice holiday gift for us at High Hampton. The favorable results of the Environmental Study was a big step for us moving forward with the project.