Mojave Jane is a California-licensed manufacturer of premium cannabis extracts and concentrates for buyers in the state
Cannabis investment firm High Hampton Holdings Corp () (OTC:HHPHF) told investors that its wholly owned subsidiary Mojave Jane was set to start full-scale production in January next year, firing the starting pistol on monthly revenues of US$1 million to the company.
Mojave Jane is a California-licensed manufacturer of premium cannabis extracts and concentrates for buyers in the US state.
The recently upgraded 2,500 sq ft production facility lies in the cannabis-friendly zone of Coachella City and can produce around 115 litres of clear distillate per month.
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High Hampton said the output will be used to supply multiple brands on a white label basis including High Hampton's 100% owned CALIGOLD, which produces medicinal grade cannabis edible chocolate bars and vaporizer pens.
"The board and executive team of High Hampton are very excited to announce the start of production at Mojave Jane's Coachella extraction facility in January of 2019," said Christian Scovenna, a director at High Hampton. "We are encouraged by the top-line revenue projections and see this as a catalyst moving the company in the right direction and milestone for High Hampton in creating shareholder value."
Gary Latham, High Hampton's CEO, added: "While Mojave Jane's production delivers revenue and cash flow to the company, it also means realizing the advantages of integrating with High Hampton's complete portfolio. That is where the real long-term value of this company will be realized."
Mojave Jane's initial production of 25 litres per month is expected to ramp up to approximately 115 litres by the second quarter of 2019.
At current market pricing, that level of production will drive monthly revenues of US$1 million with total annualized top-line revenue projections expected to reach between US$12 million and US$14 million on a 35% gross margin basis.
With multiple supplier relationships in place with California cultivators, Mojave Jane has secured a supply of laboratory tested, pesticide-free raw materials across the state, allowing the company to build to a steady production rate on a monthly basis.
Mojave Jane expects to begin fulfilling demand for its products in January next year.
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