- Completed acquisition of Mojave Jane, a California-licensed manufacturer of premium cannabis extracts and concentrates
- Wholly owned subsidiary 420 Realty received six California state cannabis licenses
- Company is predicting revenue will arrive in early 2019
- Its distribution business, Bravo, churning towards operations, is expecting to be licensed in Q2 2019
What Mojave Jane does:
Mojave jane Brands Inc, (CSE:JANE) (OTCMKTS:HHPHF) transformed itself from High Hampton Holdings Corp earlier this year. The firm is a cannabis sector investment company focused on California and aims to become a vertical integrator in the state’s legal cannabis space serving recreational and medicinal markets.
The Vancouver-based company has been focused on identifying, acquiring and developing assets in the California market to address all aspects of the cannabis business: from cultivation through production. It will own and operate the processes that allow the company to manufacture, infuse and package branded recreational and wellness products.
The company says the key focus of the business is the ability to create brands and control the distribution of those brands in California. As a result, it’s building out businesses in all of those spaces.
How is it doing?
The company is predicting that revenue will arrive in early 2019.
Two of the group's current brands, Cali-Gold and Mojave Jane, are well recognized for quality, and have cleared California’s licensing hurdles and begun operations. Both teams are in place it is expected both businesses will produce and ship products in early 2019.
The firm's cornerstone distribution business, Bravo, continues to make progress towards operations as well, with a 15,000 sq/ft facility under lease in West Sacramento.
The appropriate applications have been submitted, and the facility and the business expect to be licensed in early Q2 and operational in late Q2 of 2019.
In January, the company said its wholly-owned subsidiary 420 Realty LLC received six California state cannabis licenses to operate at its facility located in the City of Cudahy. The granting of six temporary licenses for nursery work, cultivation processing, cultivation, manufacturing, retail and distribution will allow 420 Realty to kick off the development of its facility in Cudahy.
In other news, its 11-acre CoachellaGro property in Coachella, CA received its conditional use permit, allowing design to begin. The company says power design and development of CoachellaGro are being done in a modular fashion, which will allow the company to respond to the changing market dynamics for flower and bio-mass in California.
From a financing perspective, liquidity remains strong with over $9 million in cash as of 30 November 2018.
What the boss says:
“The focus of the business is to develop the cannabis space in California, principally,” says CEO Gary Latham.
“Most importantly and what we see as key to the business is being able to create brands and control the distribution of those brands,” he added.
Contact Katie Lewis at [email protected]
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