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High Hampton closes C$19M private placement

High Hampton Holdings Corp. closed an upsized non-brokered private placement of 31,703,565 units at 60 Canadian cents apiece, raising about C$19 million in gross proceeds.

Each unit consisted of one High Hampton common share and a stock purchase warrant exercisable for 90 Canadian cents apiece within a two-year period.

The Vancouver-based company will use funds to develop a medical cannabis production facility in Coachella, Calif.