The company said it received a will serve letter from the Imperial Irrigation District with a confirmation for seven megawatts of power for the CoachellaGro cultivation facilities
California-focused High Hampton Holdings (, OTCMKTS:HHPHF) has advanced further its CoachellaGro Corp cannabis production facility in California after it received a will serve letter from the Imperial Irrigation District with a confirmation to accommodate facilities with seven megawatts of power.
In May, CoachellaGro received a conditional use permit for cannabis farming on the 10.8 acre property which was an important prerequisite for securing power.
High Hampton plans to construct and provide a new substation on the Coachella property and install, operate and maintain the necessary substation equipment including new transmission lines and step-down transformer to bring electrical service to its cultivation facilities.
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"I am pleased that we received a Will Serve Letter for 7 Megawatts of Power. We are the first in the City of Coachella to receive power through transmission lines in where we will be having our own mini substation," said chief executive officer and director David E. Argudo.
"This means that we are not necessarily reliant to the challenges of the area such as approvals, financing and build outs; our project is moving forward regardless when the area gets its permanent power."
The CoachellaGro property will be situated in the cannabis industrial park in the city of Coachella, which has set aside 90 acres of land specifically to support the state’s booming cannabis industry.
High Hampton’s stock was up 2.0% at US$0.44 in New York and flat at C$0.56 in Toronto on Wednesday
-- share price updated --
