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The Most Well-Known Brand in Cannabis Expects to List on the Public Markets In Q1
LOS ANGELES, Dec. 31, 2020 (GLOBE NEWSWIRE) -- Hightimes Holding Corp., the owner of High Times®, the oldest brand in the cannabis industry, has today announced the final extension of its highly successful Regulation A + crowdfunding campaign, having raised over $35 million from more than 30,000 investors. While the company has extended it’s offering through the 31st of March, 2021, it anticipates to list on the public markets during Q1 of this upcoming year.
“After the transformative year that was 2020, we could not be more excited to push on into 2021 and finally introduce our company to the public markets,” Hightimes Holding Corp.’s Executive Chairman Adam Levin stated. “It’s been a long road to get here, but the widespread support from investors from all over the world illustrates the global reach of the High Times brand!”
The Regulation A+ offering comes during a time of massive growth for the brand. After announcing its intent to enter into plant-touching operations less than 12 months ago, High Times is on its way to becoming one of the largest operators in California. Having already amassed a portfolio of cannabis licenses including operational stores as well as a thriving delivery service, the company additionally entered into a licensing deal that brought THC products and retail stores bearing the brands name into the Michigan market. While the 46-year-old industry cornerstone is famous for proliferating the cannabis market before it existed legally, the company has started selling the products it has talked about for many years.
The Regulation A+ offering, which is paused pending the filing of the Hightimes annual report on Form 1-K for the year ended 2019 and its semi-annual report on Form 1-SA, has been extended through March 31, 2021,
Today marks an historic milestone for Hightimes Holding Corp. and the tens of thousands of people who have invested in it. On February 20, 2020, the company announced that it received notification from the Financial Industry Regulatory Authority (FINRA) that it has been granted a trading symbol, clearing the final regulatory hurdle to list on public markets. FINRA’s approval means that investors in Hightimes Holding Corp. can begin trading shares in the company.
Public trading was the goal of High Times’ Regulation A+ offering campaign, and the commencement of trading will mark the culmination of that campaign’s tremendous success. As of yet, Hightimes Holding Corp. has not issued a start date for trading. But a planned listing date will be determined in the near future.
High Times, the world’s best-known cannabis brand, has always been about connecting people to the plant. That more than 45-year commitment to the cannabis community is what fueled the company’s efforts to expand through its recent Regulation A+ fundraising campaign. And the cannabis community responded—in a big way.
To date, more than 23,000 people, from loyal High Times fans to cannabis enthusiasts and early believers in the brand’s mission, have become shareholders of Hightimes Holding Corp. “This has been one of the most widely subscribed to offerings in history—across any industry,” said Adam Levin, Executive Chairman of Hightimes Holding Corp.
Regulation A+ offerings lower the barrier of entry for public investments, and High Times’ was no different. For a minimum investment of $99, equal to nine shares at $11 per, anyone could claim a stake in the future of the company. Now, with its approval to list and trade shares on public exchanges, High Times’ vision for the future is that much closer to being realized. “We’ve proven the strength of our brand, and of the community we represent,” Levin added. “We’re excited for this next step.”
2020 is shaping up to be a banner year for the High Times brand, and big things are in the works. This year, High Times plans to expand into retail experiences with its first two brick-and-mortar dispensary locations in Los Angeles, California and Las Vegas, Nevada.
The company also plans to add nearly a dozen more events and increase its footprint to 25 locations both internationally and in the U.S. That means more Cannabis Cup festivals, even better access to products and services and more opportunities to connect with the rapidly growing legal industry.
In 2018, High Times acquired DOPE magazine, CULTURE magazine and the website Green Rush Daily, with the aim of cementing its place as the largest name in cannabis and the ultimate media destination for cannabis consumers of all stripes, from the canna-curious to marijuana for-lifers. The company’s digital presence, alongside its continuing expansion in licensing and ecommerce, means High Times has the opportunity to reach consumers wherever they may live.
“My history in ecommerce should help the company as we develop both our retail business as well as our direct-to-consumer delivery options in markets across the globe,” said Stormy Simon, High Times’ Chief Executive Officer.
Although a start date to trading on the public markets has not yet been announced, time is running out to participate in High Times’ Regulation A+ campaign. The offering can be extended until March 31, 2020, unless all 4,545,454 shares are sold before that date.
High Times is encouraging interested investors to visit hightimesinvestor.com to view the High Times offering circular. Those interested can also email investor@hightimes.com or schedule a call with the brand’s investment team at https://calendly.com/hightimesinvestor/30min.
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10/1/2020- The HighTimes State of the Union -- Shareholder update via E-mail from Adam Levin
If you have a question for High Times in regards to their financials or plans to become a publically traded company please utilize this link
https://ir.hightimes.com/
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