LOS ANGELES, June 19, 2018 (GLOBE NEWSWIRE) -- High Times, the most trusted and recognizable brand in the cannabis industry, today announced a Regulation A+ initial public offering that allows any investor the opportunity to invest in the Company.
Investors will be able to purchase shares of the iconic 44-year-old media and entertainment company before its planned Nasdaq stock market listing scheduled for later this year.
This comes after the Company recently announced that it is adding to its board former President of Mexico, Vicente Fox Quesada, a long-time champion of medical and other benefits of legalized marijuana.
The company’s Regulation A + shares are set at a value of $11, a 10% discount from the anticipated Nasdaq opening price. The shares are available for purchase at hightimes.com/invest.
“This is an exciting day for us,” said High Times CEO Adam Levin. ”We want to give the High Times faithful as well as the broader cannabis industry a chance to share in this incredible moment where High Times transforms into a multi-platform, multi-dimensional public enterprise.”
“Given our passionate fan base, it is important that we give them the chance to own a piece of the Company.”
Fox’s addition to the High Times board brings a prominent global leader to the company at a time when countries such as Uruguay and Canada fully legalize marijuana use and other international markets relax regulations.
“Vicente Fox Quesada brings international relationships and decades of experience in business, politics, and policy,” said Levin. “He is a proven leader and global statesman whose unique experience, perspectives, and connections will be invaluable for High Times as we expand overseas, online, and into so many new areas. We’re fortunate he has decided to join our leadership team.”
“At a time when nearly two-thirds of the United States have legalized some form of cannabis, and the U.S. Congress is considering giving all states control over legalization decisions, this is the right time to invest in the business of cannabis,” said Fox.
“The ‘Green Rush,’ as it’s been called, will be one of the largest wealth creators of our generation. And as we move out of the shadows, real businesses in this sector will prosper in a way most industries only dream of.”
The Regulation A+ filing allows investors to buy common stock shares in High Times without waiting until the Nasdaq listing. Investors can buy one of the first cannabis-related stocks expected to go public. Cannabis has been legalized for at least some uses in 28 states and the District of Columbia.
“It was important to me that this offering be open to anyone who wants to join this historic moment, not just those with big brokerage accounts,” said Levin. “We’re becoming one of the first cannabis-focused companies publicly traded on the Nasdaq. We got here in no small part because of our incredible audience, people who have been supporting High Times for decades. As interest in cannabis grows and legalization spreads, so too will High Times.”
Hightimes Holding Co. took controlling interest in the High Times family of brands in April, 2017. It since has increased revenue and invested heavily to expand its events division both domestically and internationally.
The new ownership also has expanded online reach, with monthly digital impressions topping 275 million per month, an increase of 425%.
The company has invested significantly in both acquired and internally developed intellectual property, including High Times Records. It also has established a number of strategic partnerships and acquisitions to further cement the brand’s place as the leader in cannabis media.
High Times does not distribute cannabis or cannabis-infused products. Its business is focused on media, events and lifestyle experiences tied to legal cannabis culture.
High Times plans to leverage capital from the public offering to further expand publishing, events, and licensing, invest in video and audio content, and add more products.
Background on Vicente Fox Quesada
Early in his career, Fox joined Coca-Cola Company as a route supervisor, and climbed the ranks over nine years to the top of the brand’s leadership team, eventually serving as the President of Coca-Cola Latin America.
Fox later served as governor of the Mexican state of Guanajuato, before becoming President of Mexico from 2000 to 2006.
Fox has been a prominent public speaker and writer and a popular social media presence, all while overseeing development of the Vicente Fox Center of Studies, Library and Museum.
Fox is author of several books, including the recently published “Let’s Move On: Beyond Fear & False Prophets,” co-authored with Sulay Hernandez. A long-time proponent of a common-sense approach to legalized marijuana, he wrote the introduction to 2015’s “The Cannabis Encyclopedia: The Definitive Guide to Cultivation & Consumption of Medical Marijuana,” by Jorge Cervantes.
Fox is a graduate of Harvard Business School and Universidad Iberoamericana.
A photo accompanying this announcement is available at High Times launches initial public offering
About High Times Media Corp.
For more than 40 years, High Times has been the authoritative voice of authentic cannabis culture, leading the fight for legalization and empowering the burgeoning industry’s legal entrepreneurs.
High Times content spans digital, social, video and print platforms as well as location-based events highlighted by the Cannabis Cup global franchise and the High Times Business Summit conference series.
Visit us at HighTimes.com, and follow @HIGH_TIMES_Mag on Twitter, @hightimesmagazine on Instagram or like us on Facebook at: https://www.facebook.com/HIGHTIMESMag/
Forward-Looking Statements
This presentation may include ''forward-looking statements.'' To the extent that the information presented in this presentation discusses financial projections, information, or expectations about Hightimes Holding Corp.’s business plans, results of operations, products or markets, or otherwise makes statements about future events, such statements are forward-looking. Such forward-looking statements can be identified by the use of words such as ''should,'' ''may,'' ''intends,'' ''anticipates,'' ''believes,'' ''estimates,'' ''projects,'' ''forecasts,'' ''expects,'' ''plans,'' and ''proposes.'' Although Hightimes Holding Corp. believes that the expectations reflected in these forward-looking statements are based on reasonable assumptions, there are a number of risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading "Risk Factors" and elsewhere in the offering statement filed with the SEC. Forward-looking statements speak only as of the date of the document in which they are contained, and Hightimes Holding Corp. does not undertake any duty to update any forward-looking statements except as may be required by law.
Legal Disclaimer
The offering will be made only by means of an offering circular. An offering statement on Form 1-A relating to these securities has been filed with the U.S. Securities and Exchange Commission and has become qualified. The securities offered by Hightimes Holding Corp. are highly speculative. Investing in shares of common stock of Hightimes Holding Corp. involves significant risks. The investment is suitable only for persons who can afford to lose their entire investment. Furthermore, investors must understand that such investment could be illiquid for an indefinite period of time. No public market currently exists for the securities, and if a public market develops following the offering, it may not continue. For additional information on Hightimes Holding Corp., the offering, and any other related topics, please review the Form 1-A offering circular that can be found HERE.