Mojave Jane’s California Cannabis Plan
Ryan Allway
July 15th, 2019
App, Exclusive, News, Top News
When it comes to building brands in the cannabis space, it pays to be ahead of the curve. Mojave Jane(CSE:JANE) (formerly known as High Hampton Holdings) is a California-centric cannabis company that includes award winning CALIGOLD edibles, along with manufacturing, distribution, and delivery operations that open the door to produce a host of cannabis products and brands and take them directly to the consumer market. The name change is reflective of the firm’s belief that California is where the top brands are established – if you can make it in the world’s biggest cannabis market, you can make it anywhere.
CFN Media recently spoke with Mojave Jane CEO Gary Latham and COO Tom Baird to learn more about the company’s recent transition and how they plan to dominate the California scene and beyond.
CFN: You recently rebranded after your acquisition of Mojave Jane. Why did you decide to make the switch?
Gary Latham: All of our business is conducted in the state of California. We focused on California for obvious reasons. It’s the largest cannabis market, I believe, in the world, and certainly the largest in the US. We have built a business that is focused on building products and brands for the California consumer market and we recognize the value that lies in being a California brand or a collection of California brands; they will not only resonate here but also outside the state.
Furthermore, we’ve built an “engine” at Mojave Jane that brings all the pieces together to be able to cultivate, manufacture, package, produce edibles, and effectively produce any type of cannabis product the market demands. On top of that, we also have the capability to get those products out to market, both as a distributor and also through a delivery partnership that will allow us to go direct to consumer (DTC). We are passionate advocates of delivery and DTC in the California space and in the US as a whole.
Ultimately, we feel that the future of retail lies in the ability to get quality brands in the hands of consumers quickly, and without all of the added costs that come with traditional retail. Delivery does that, along with another key piece we are in the process of adding to our capabilities: detailed access to consumer information which will enable us to understand what consumers are buying. That, in turn, allows us to produce products and brands that meet that consumer demand no matter what the demographic may be.
CFN: Tell us what you have on deck in terms of product development?
GL: The market right now really is focused on extracts and concentrates. The opportunities in the marketplace for growth dictate that, but we truly focus our business on the manufacturing capacity that we have and maximizing and expanding that capacity fully, releasing a variety of different kinds of quality extracts and concentrates while upping the value and capacity of that overall. We will focus our efforts here.
CFN: What makes Mojave Jane an interesting opportunity for investors?
GL: That’s the right question. Right now all of us see that the market for Canadian cannabis is a bit down across the board. It’s interesting because we are a US company that’s sitting on the Canadian Exchange, so we are very much affected by what happens in the Canadian market even though we are a US operator. Consequently, our stock is undervalued and our overall market cap is low relative to the opportunity that we represent. I believe this is an ideal time to invest in Mojave Jane, as we are entering a significant growth cycle.
For revenue producing companies, we see multiples that are incredibly strong. Mojave Jane is just hitting that place in our evolution where we are going to generate revenue, and we expect our picture to change substantially in the third quarter.
CFN: Where do you think the cannabis industry is going overall?
Tom Baird: When Gary and I joined High Hampton after the acquisition of Mojave Jane, we decided to further elevate the company’s strategy to match what we’ve been seeing in the market. I dislike the term “commoditized,” but ultimately over time I think some aspects of this business will be commoditized. We obviously want to avoid that and, therefore, have refocused ourselves on developing value-added brands and products and getting them to market.
As an example, cultivation is already fairly commoditized in California. So we decided on cultivating at a size that matches our appetite for producing branded products. Having control of our production cycle and supply chain in this manner keeps us out of the ups and downs in pricing, supply, and quality. I like to think of this as owning the chain from “soil to oil.”
GL: I would add one other thing to Tom’s assessment. One of the big trends that we’re going to see is a move to get consumers out of the black market and into the legal market. Right now, California’s market is dominated by the black market with only about 20% of the market being legal and licensed. Roughly 80% remains illegal which is enormous and means for the most part, the black market is still our true competition. Educating consumers on the value and benefit of buying legal and converting them to this market represents a massive growth opportunity on its own.
CFN: What else should our readers know about Mojave Jane?
GL: They should know about the growth opportunity we are executing on: We are well-positioned in the biggest cannabis market in the world equipped with a solid strategy for success and a team that knows how to build this business. Our licenses and locations in Southern California put us in an ideal place to reach the market and to create products and brands, both organically and through strategic partnerships, that the market demands.
Demand for compliant, quality products and brands far outweighs supply in California, and we are strong believers in closing that gap in general. The market is far larger than what is being legally produced right now. All of us legitimate operators have to work together to educate the market and convert consumers away from illegal sources.
TB: I would add that Mojave Jane is executing on many levels right now, and we will be ready to share more details on that as we enter the second half of the year.
*This interview has been edited for clarity
Disclaimer
The above article is sponsored content. Emerging Growth LLC, which owns CannabisFN.com and CFN Media, has been hired to create awareness. Please follow the link below to view our full disclosure outlining our compensation: https://cannabisfn.com/legal-disclaimer/
This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.
About Ryan Allway
Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.
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