High Times Archives - Green Market Report

Kaitlin DomangueKaitlin DomangueJanuary 30, 2020
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It’s time for your Daily Hit of cannabis financial news for January 30th, 2020.

On the Site

CLS Nevada Projects 2020 Revenue Of $17 Million

CLS Holdings USA, Inc (OTCQB: CLSH)(CSE: CLSH) released its 2019 calendar year-end statement for CLS Nevada, not long after the company reported its quarterly earnings on January 14. The company said in a statement that it was “forecasting CLS Nevada 2020 revenue of $17 million and positive EBITDA of $4 million.” The company will need to hustle if it wants to hit that $17 million goal. CLS said that it plans to increase sales by 100% at City Trees by eliminating low return on investment SKUs, re-branding and increasing visibility through better marketing channels. That includes expanding the  Oasis Cannabis parking lot and vault to allow it to efficiently serve 1250 customers a day. The company also wants to create new revenue streams by offering advertising opportunities to brands and partners.

High Times Tells Shareholders It Needs More Capital

It’s been a tumultuous two months for venerable cannabis publisher High Times following an equally bumpy road to going public. On Wednesday, Chairman Adam Levine sent a letter to shareholders of the private company stating that it would once again extend its fundraising campaign and abandon its efforts to list on the NASDAQ Marketsite Exchange (NASDAQ: NDAQ).

The latest extended offering will terminate on the first to occur of either the date on which all 4,545,454 shares are sold or March 31, 2020. These shares though are priced back at $11 with the goal of raising another $5 million. According to the most recent corporate presentation, High Times had 32,460, 313 issued shares and if all were valued at $11, that is a $357 million market cap. The company’s current total liabilities are $68 million.

The First Historically Black College Is Launching A CBD Line

The Southern University Agricultural Research and Extension Center in Baton Rouge, Louisiana, along with its partner Ilera Holistic Healthcare is launching a CBD product line called ALAFIA. Southern is the first HBCU (Historically Black College University) to start its own CBD product line that is available for sale at dispensaries and other retail locations.

“Southern has been a leader in agriculture and the sciences for 140 years while staying true to its mission of access,” said Ray Belton, the president of the Southern University System. “This CBD venture with Ilera encompasses all of that.”

Hemp Glut Causing Prices To Drop, Unsold Harvests

Hemp Benchmarks report for January was published on Wednesday at the Hemp Benchmarks website. Founder Jonathan Rubin noted that wholesale hemp markets continue to face significant challenges, including oversupply and declining prices.

The report stated, “We have in previous reports emphasized the current glut of biomass on the market, which has led to farmers being unable to move their harvests. Such market conditions continued in January, with numerous members of our Price Contributor Network reporting that relatively little buying and selling of biomass was taking place. Transactions that were reported showed high-CBD biomass prices continuing to sink, with the assessed rate for transactions of over 1 million pounds down 53% from last month.

In Other News

Two Kentucky Hemp Companies Facing Bankruptcy 

Two companies are facing financial trouble as GenCanna has had three separate creditors try and force the company to declare bankruptcy. The three creditors are owed $50,000 collectively. Separately, Sunstrand owner William “Trey” Riddle filed for Chapter 7 bankruptcy in a Louisville court. 

A creditors’ meeting is scheduled for February 6th in Louisville, KY. 


Debra BorchardtDebra BorchardtJanuary 30, 2020
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It’s been a tumultuous two months for venerable cannabis publisher High Times following an equally bumpy road to going public. On Wednesday, Chairman Adam Levine sent a letter to shareholders of the private company stating that it would once again extend its fundraising campaign and abandon its efforts to list on the NASDAQ Marketsite Exchange (NASDAQ: NDAQ).

The news to quit the NASDAQ listing is not actually new news. This past June, the former CEO Kraig Fox confirmed that the company fell short of its goal to raise $50 million and that it was no longer pursuing the Exchange and instead would switch its focus to the OTC Market. Fox also stated in November that the company hired strategic advisor Lazer & Lazer, who gave the company $1 million through its British Virgin Islands company, identified as El Capital in SEC filings. Fox quit one month later in December after only joining the company in April.

Rayray Pays $5.50, You Pay $11

23,000 shareholders ponied up roughly $15 million for shares that were priced at $11 a share. However, just a couple of weeks ago, High Times did a private placement on January 14, 2020, with Rayray Investments, Inc., an Ontario corporation in which the company only paid $5.50 a share for 363,636 shares for approximately $2 million.

The latest extended offering will terminate on the first to occur of either the date on which all 4,545,454 shares are sold or March 31, 2020. These shares though are priced back at $11 with the goal of raising another $5 million.

According to the most recent corporate presentation, High Times had 32,460, 313 issued shares and if all were valued at $11, that is a $357 million market cap. The company’s current total liabilities are $68 million. 

The last reported revenue figures were for six months ending June 30, 2019, and that was $10.7 million. If that stays flat, the company is only bringing in $20 million a year. It’s operating costs for those six months was $14 million.

The company’s latest presentation says it will increase it events, which has been traditionally the source of its biggest revenue production. However, it is barely breaking even on events, which brought in $6.7 million for those six months but cost $6.5 million to produce. Still, the addition of The Big Show and Spannibus acquisitions could eventually add to the company’s top-line revenue, however, in the company’s last annual report in June it stated that it hadn’t actually closed those acquisitions.

“Not According To Plan”

Levine was apologetic in his letter saying, “What we have learned is that things don’t always go as according to plan. Candidly, we have made a few decisions that in hindsight we may have done differently today. Our largest misgiving is that High Times had hoped to be public by now. But given the market’s volatility in the cannabis sector, we also believe this may have been a blessing in disguise for our company and shareholders alike. We are now more focused and realigned.”

The company has reduced its monthly printing calendar to a quarterly publication. It has consolidated its editorial staff to one location. David Tran, Dope’s founder may be gone, but the magazine along with Culture, has contributed $1.7 million in advertising revenues for the six months ending in June 2019.

High Times says it is pivoting to opening dispensaries and has signed binding letters of intent for two dispensaries. One in Los Angeles and one in Nevada. In a recent filing, the company stated, “We have not, as yet, entered into any definitive agreements to acquire any of the above-referenced businesses. Even if we are able to execute definitive acquisition agreements, our ability to consummate such acquisitions will be subject to a number of conditions, including our having adequate capital and, with respect to our proposed dispensary acquisitions, obtaining the approval of the applicable regulators in Nevada and California and other municipal agencies for the change of ownership of and transfer of dispensary licenses for such businesses. Accordingly, there can be no assurance that we will be able to consummate any or all of these or other intended acquisitions.”

New Leadership

Levine’s shareholder letter did review the recent changes in the C-suite following Fox’s decision to quit in December. “We recently hired e-commerce pioneer Stormy Simon to take over as High Times’s Chief Executive Officer.” and the notice of a new President, ” Simon certainly has her work cut out for her. She is tasked with creating an e-commerce business in a company whose merchandising sales have fallen. She’ll also oversee the transition to operating dispensaries. Not to mention, numerous other endeavors running the gamut from a distribution business to a music label.

Paul Henderson, the former CEO of Groupo Flor, joined as the new President. Henderson served on the board of Cultivate Capital, a Calgary-based cannabis financing company. At the same time, from August 2017 until January 2020, Mr. Henderson was managing partner of Matchbox Partners, a cannabis consulting firm focused on helping cannabis businesses thrive by providing financial forecasting, assisting companies in obtaining financing, as well as assisting with compliance and marketing. From 2017 until 2019, Mr. Henderson was also CEO of Grupo Flor, a California-based cannabis-related real estate company. In addition, from 2016 until 2017, Mr. Henderson served as a consultant and chief financial officer at Edible Management, a California-based company. Prior to entering the cannabis space, from 2009 to 2016, Mr. Henderson was co-owner of Ridgeline Specialty Sports, a bike and ski shop in Idaho and he worked in sales and finance at GE Capital (2011-2014) and Goldman Sachs (2006-2011).

 

 


Video StaffVideo StaffJanuary 17, 2020

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There’s just one more week until our first Psychedelic Investing event. After that, our next cannabis conference will also be held in NYC on April 3. You can get all the information at www.greenmarketsummit.com.

GW Pharmaceuticals plc said that it expects total net product sales to be approximately $108 million for the fourth quarter and approximately $309 million for the year ending December 31, 2019. The bulk of the fourth quarter sales comes from the epileptic drug Epidiolex, which is expected to be roughly $104 million for the fourth quarter and approximately $296 million for the full year.

Organigram Holdings Inc. reported that its first-quarter 2020 revenue rose by 102% over last year to $25.15 million, which beat analyst estimates by $10.24 million. The company cautioned that it is pumping the rakes on cultivation as Canada is moving at a much slower pace on store openings.

Aphria Inc. reported revenue for adult-use cannabis increased 46% sequentially to $29 million. Total net revenue decreased sequentially by 4% to $120.6 million but jumped 457% over last year’s second quarter. Aphria delivered a net loss of $7.9 million

This week High Times announced that it was getting into the dispensary business. The company has plans for 2 flagship locations in Las Vegas and Los Angeles. In addition to that, High Times named Paul Henderson as its new CFO. This will be the third CFO for the company in just one year.

ManifestSeven (formerly known as MJIC) has acquired San Francisco-based legal cannabis delivery service company Lady Chatterley Health, which is focused on high-end women’s products for an undisclosed amount.

Rogue Station Companies, Inc. (OTC Pink: RGST) has acquired Brahman LLC, d/b/a Terpp Extractors, a Fort Collins, Colorado-based manufacturer of cannabis processing equipment in an all-stock transaction. 

Carlos Santana announced his partnership with Left Coast Ventures to develop premium cannabis and hemp CBD brands. 

And finally, Cultivar Holdings said its shares have been listed on the Canadian Securities Exchange using the symbol CULT.


Debra BorchardtDebra BorchardtJanuary 16, 2020
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Longtime cannabis print publisher High Times is getting into the dispensary business. The company said that it has signed a binding letter of intent to launch branded retail stores in Las Vegas and Los Angeles. The company did not specify who it had signed the agreements with or the value attached to the agreements. The locations were only described as being in high traffic areas.

The dispensaries are intended to become flagship High Times stores and in addition to selling cannabis products, will also carry High Times branded products. The stores will also feature award winners from the company’s Cannabis Cup events. There are plans to expand beyond the first two locations.

In addition to the pivot into retail, High Times has named former Grupo Flor CEO Paul Henderson as its President.
High Times noted that Grupo Flor’s store, East of Eden, was one of the top-selling retail stores in the country.
Prior to entering the cannabis industry, Henderson had an extensive career running business units at
Goldman Sachs, GE Capital, and Apple.

“There is no brand in Cannabis that compares to High Times. High Times has ten times the number of social followers of any other cannabis retail brand, not including the millions of cannabis enthusiasts who visit the company’s media properties on a monthly basis., said Henderson. “The cannabis movement has grown in no small part due to the High Times brand, and we will continue to be the source for the highest quality product in this industry – just on a much more personal and direct level.”

Adam Levin, the company’s Executive Chairman stated. “Having the second mover advantage in this industry,
combined with the present downturn in the cannabis capital markets, provides unique timing for High Times to help non-branded stores to differentiate themselves from the industry’s larger multi-state operators. I know I speak for the whole team when I say we’re extremely excited to add Paul to the Hightimes family.”

The company’s November filing had suggested that in addition to retail stores, it could also open High Times consumption cafes. There are also opportunities to use the name for smoking accessories, apparel, and movies.

 C-Suite Upheaval

The move follows the recent resignation of Kraig Fox as CEO and the appointment of Stormy Simon to that role. Fox was seen as the leader who would bring the company’s offering over the goal line and help facilitate the move towards retail and licensing opportunities. He was in the position for less than a year.

Henderson will be more than President, he will also serve as interim Chief Financial Officer stepping in for David Newberg who quit on January 7th, 2020. Newberg was just rehired for the role in July 2019 for two years with a salary of $250,000 a year. He followed Neil Watanabe who joined in April 2019 as the company’s Chief Operating Officer and Chief Financial Officer. At that time, he was replacing Newberg, who had served as CFO for two year prior. Watanabe only lasted three months as he quit in July. 

High Times Stock

The crowdfunded offering was expected to happen this past fall but has yet to come to fruition. According to the company’s filings, there are 24,384,571 issued shares, which High Times values at $11.00 giving the company a roughly $268 million market cap. The current total liabilities are $68 million and the revenue for six months ending June 30, 2019, was $10.7 million. 

Events

Events continue to be the big breadwinner for High Times. The Cannabis Cup regularly brought in millions and basically supported the publication. It seemed that High Times was moving towards increasing its focus on events with the acquisition of Spannibus, Chalice Festivals, and The Big Show. In the last company filing though, the company was barely breaking even on events. Events brought in $6.7 million, but cost $6.5 million to produce. It was a decline of 4% from the 2018 event revenue of $7 million.

The company had a winner in Michigan, where it had record attendance and sold out its booth space. It also hit the mark with a DOPE Cup and a Daly City, CA event. However, it wasn’t enough to offset a decline in attendance and booth sales for the regular annual California events held in San Bernardino, Sacramento, and Santa Rosa. 

Synergies

The Cannabis Cup events could become very important to the brands hoping to win. An award winner could conceivably gain entry to the flagship stores and also become a part of future consumption cafes. At this time no other event would be able to match this opportunity. For now, winners at cannabis festivals have only been able to use the titles for marketing purposes. If High Times is successful and commits to featuring the winners, then winning could mean lucrative sales contracts in addition to a trophy for producers and brands.

 


Debra BorchardtDebra BorchardtJanuary 6, 2020
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Hightimes Holding Corp. told investors that it accepted the resignation of Kraig G. Fox as the Company’s Chief Executive Officer and President Effective December 24, 2019. On January 6, 2020, Stormy Simon, one of the Company’s independent directors and former President of Overstock.com Inc., was appointed to the position of Chief Executive Officer of the company by the board of directors. Following her appointment, she will also continue serving as a director on the Company’s board of directors.

Stormy Simon

The change is happening as the cannabis publication prepares to develop its physical and virtual distribution businesses. Having spent the last year acquiring Cannabis media publications and web sites, High Times now looks to monetize its audience of millions of users across the globe. Fox was just hired in April with the intent to finally bring the company public, a move that has been discussed for years at this point. Instead, the launch of the publicly traded stock got delayed again. Fox’s background as a Senior Managing Director of Guggenheim Partners where he focused on Guggenheim’s overall strategy in the media and entertainment spaces as well as the management of its media and entertainment investments was seen as an asset.

Fox was also a founder and Chief Operating Officer of Core Media (previously CKX, Inc.) where he oversaw all operations of this publicly-traded company including Core’s interests in the estate of Elvis Presley and the intellectual property rights of Muhammad Ali as well oversight of its wholly-owned subsidiary, 19 Entertainment, which included American Idol (including television, records, lives tours, artist management and sponsorships) and So You Think You Can Dance. It was anticipated he would capitalize on the name brand of High Times through licensing deals.

Recently, Fox had suggested the company would pivot into consumption cafes and dispensaries and away from cannabis content. Now, it seems there is another pivot away from that idea and Fox has left.

“I’m honored to take on this role at such a pivotal time for this iconic brand. The cost of customer acquisition has plagued the cannabis industry thus far, but utilizing the High Times brand’s global audience, we should be able to monetize our traffic by connecting consumers to cannabis products at an unprecedented scale,” Stormy Simon stated. “Like millions of other people, I have trusted High Times for years and I can’t wait to use my experience to help develop the next iteration of our business: delivering the best products into consumers’ hands.”

Levin will remain in his role as Executive Chairman. He said, “Stormy Simon, who rose through the ranks at Overstock.com during her 15-year tenure with the company, has extensive international business relations and marketing experience and is highly skilled at breaking down and rebuilding departments. Stormy revolutionized Overstock.com’s marketing department, and then its customer service department, during an uncharted time in e-commerce history, eventually leading Overstock.com to increase its revenues from $20 million to over $2 Billion.”

Salary

According to the company’s filings, Ms. Simon will receive a base salary of $300,000 per year, payable in equal monthly installments, provided that the Base Salary shall initially be fixed at $215,000 and the remainder of the Base Salary shall accrue until, and be payable at, such time as the Company shall have raised an additional $10 million. In addition to the salary, Simon will get an annual bonus of up to $225,000 for each calendar year of her employment with the company depending on the High Times’ ability to achieve certain performance goals.  She will also have an option to buy 200,000 shares of common stock at an exercise price of $11.00 per share. One-third of those options vest on January 6, 2020, and the balance of such option shares vesting in equal monthly increments over the remaining two year period.

Simon will also receive a $3,000 travel stipend for company travel between San Jose and Los Angeles for the first six months of employment.

Fox will continue to receive his director and officer insurance policy, and High Times agreed to reimburse Mr. Fox for certain previously incurred business expenses (within five days) of successful completion of sales of an additional $5 million of equity securities or $10 million of proceeds from the sale of debt securities. He is expected to be reimbursed $125,000 with respect to expenses and lease payments for which Fox provided the company with receipts.

 

 

 

 

 


William SumnerWilliam SumnerJune 19, 2019
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It’s time for your Daily Hit of cannabis financial news for June 19, 2019.

On the Site

Charlotte’s Web Holdings

Charlotte’s Web Holdings, Inc.  (TSX:CWEB)(OTCQX:CWBHF) reported its final hemp planting for its 2019 growing season. The company said that in order to meet growing demand the total acres planted for 2019 has been increased to 862, an 187% increase from 300 acres planted in 2018.

CannTrust Holdings

CannTrust Holdings Inc. (NYSE: CTST) shares popped over 5% in early trading on news that the company had formed a joint venture with California hemp grower Elk Grove Farming Company. CannTrust is a Canadian cannabis company founded by pharmacists and this would be the company’s entry into the United States. The company said it expects to invest roughly $20 million in the operation by the end of 2020. The shares were lately trading at $5.22.

Executive Spotlight: Kraig Fox, President & CEO of High Times Holdings

A veteran media and entertainment executive, Kraig Fox oversees High Time’s day-to-day operations, which now include Dope Magazine, Culture Magazine, Green Rush Daily, and a number of events, including the Cannabis Cup Festivals.

Not Even Close To OK !!! California, Cannabis & IBI (Inherent Bureaucratic Ineptitude)

The Times article describes yet another band-aid the Legislature is slapping on California’s maladroit roll-out of cannabis regulation. This particular band-aid is an emergency extension of time through a budget Trailer Bill. The Bill, which is opposed by environmental groups, extends provisional licensing.

In Other News

Canopy Rivers

Canopy Rivers Inc. (TSXV: RIV) (OTC: CNPOF) announced that has made a $10 million investment and has entered into a strategic collaboration with ZeaKal Inc. ZeaKal is a California-based company with with proprietary technologies that reportedly increase photosynthesis, improve plant yield and enhance nutritional profiles for a variety of crops. “Our investment in ZeaKal, the fifth consecutive international transaction for Canopy Rivers, builds on our thesis of selecting globally scalable and innovative processes, products, and technologies from complementary industries, and applying them to the cannabis and hemp economy,” said Mary Dimou, Director of Business Development at Canopy Rivers.

Green Flower Media

Green Flower Media today announced that it has closed a $20 million Series A financing round. The financing round was led by Tuatara Capital and additional funding came from Poseidon Asset Management and Phyto Partners. The proceeds from the round will go towards developing new certificate programs, creating new content for its subscription service, expanding the company’s team, and forming strategic partnerships.

Innovative Industrial Properties

Innovative Industrial Properties, Inc. announced that it entered into an amendment of the lease with Green Peak Industries, LLC, largest vertically integrated medical-use cannabis license holder in Michigan. The amendment will make available an additional $18 million for Green Peak to expand its cultivation and processing facilities at 10070 Harvest Park in Dimondale, Michigan. “We are thrilled to expand our real estate partnership with one of the premier medical-use cannabis operators in the state of Michigan, another example of our position as a long-term real estate capital partner that our tenant operators can count on,” said Paul Smithers, President and CEO of IIP.


StaffStaffJune 19, 2019
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A veteran media and entertainment executive, Kraig Fox oversees High Time’s day-to-day operations, which now include Dope Magazine, Culture Magazine, Green Rush Daily, and a number of events, including the Cannabis Cup Festivals. Fox was once a Senior Managing Director of Guggenheim Partners where he focused on Guggenheim’s overall strategy in the media and entertainment spaces as well as the management of its media and entertainment investments. Prior to joining Guggenheim, Fox was a founder and Chief Operating Officer of Core Media (previously CKX, Inc.) where he oversaw all operations of this publicly traded company including Core’s interests in the estate of Elvis Presley and the intellectual property rights of Muhammad Ali as well oversight of its wholly owned subsidiary, 19 Entertainment, which included American Idol (including television, records, lives tours, artist management and sponsorships) and So You Think You Can Dance.

Prior to Core, Fox was a founder of SFX Entertainment (now Live Nation) where he was Chief Development Officer from 1995 until 2000 overseeing the global consolidation of the live entertainment industry into the world’s largest owner and operator of live entertainment promoters and producers.

GMR Executive Spotlight Q&A –

Full birth name: Kraig Fox

Title: President and CEO

Company: High Times Holdings

Years at current company: <1

Education profile: I received my bachelor’s from SI Newhouse School of Public Communications at Syracuse University and my Juris Doctorate from Hofstra University School of Law

Most successful professional accomplishment before cannabis: Prior to my work in cannabis, I was a founder of what is now Live Nation and a Board Member of the Muhammad Ali Center

Company Mission: High Times’ mission is to connect cannabis consumers to endemic and non-endemic brands through our events, trade shows and digital assets.

Company’s most successful achievement: High Times is the only globally known brand in cannabis and has been connecting cannabis consumers with brands for nearly five decades. High Times has also been staging Cannabis Cup events for three decades and holds over a dozen live events a year spanning Europe, the United States and Canada, each of which draw tens of thousands of attendees who gather to celebrate the cannabis lifestyle, music and products. The Company recently expanded its international platform through its acquisition of Spannabis, one of the most prolific events in the cannabis ecosystem and one of the most well-known annual festivals within the EU.

 Has the company raised any capital (yes or no): Yes

if so, how much?: Above $25M. 

Any plans on raising capital in the future? Yes.  We are currently finishing our highly successful Reg A + public offering and plan to list on a stock market shortly. 

Most important 5 year company goal: Our focus will continue to remain on driving and growing our global brand presence.

 


Debra BorchardtDebra BorchardtApril 3, 2019
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Hightimes Holding Corporation has hired Kraig Fox as President and Chief Executive Officer. Fox will oversee the company’s portfolio of global media, events and licensed properties. Adam Levin, who has served as High Time’s CEO since its acquisition by Hightimes Holding Corp in 2017, will now serve as the company’s Executive Chairman.

The announcement of Mr. Fox comes as High Times is raising capital through its Regulation A+ funding initiatives in cannabis history in preparation for the public listing of its shares, expected later in 2019. The High Times Regulation A+ offering and has already generated more than 20,000 investors but has been extended repeatedly. The offering originally began in early 2018 as part of the Origo Acquisition. Fox has extensive experience in the public markets arena and in mergers and acquisitions and the hire is expected to finally bring the offering to a close.

“Kraig’s operating and finance experience with public companies in the live entertainment, music and branding sectors makes him the ideal executive to take the High Times brand, our growing portfolio of assets and our business operations to the next level,” said High Times Executive Chairman Adam Levin. “As our operations expand globally, Kraig will provide both the personnel leadership and operational strategy to bring positive returns to those financially invested in the High Times brand. I couldn’t be more excited to have Kraig join us.”

“We plan on keeping our public offering open for a brief period as we conclude discussions with institutions and other major investors,” said Fox. “Both the investor and cannabis communities recognize that High Times is uniquely positioned to empower the industry with positive long-term financial returns.”

Kraig Fox

Fox brings a stellar bio to the world of High Times. He was once a Senior Managing Director of Guggenheim Partners where he focused on Guggenheim’s overall strategy in the media and entertainment spaces as well as the management of its media and entertainment investments. Prior to joining Guggenheim, Fox was a founder and Chief Operating Officer of Core Media (previously CKX, Inc.) where he oversaw all operations of this publicly traded company including Core’s interests in the estate of Elvis Presley and the intellectual property rights of Muhammad Ali as well oversight of its wholly owned subsidiary, 19 Entertainment, which included American Idol (including television, records, lives tours, artist management and sponsorships) and So You Think You Can Dance.

Prior to Core, Mr. Fox was a founder of SFX Entertainment (now Live Nation) where he was Chief Development Officer from 1995 until 2000 overseeing the global consolidation of the live entertainment industry into the worlds largest owner and operator of live entertainment promoters and producers.

High Times’ Acquisition Moves

High Times has been on an acquisition binge as the company seems to be pivoting towards events, which have historically been its largest source of revenue. High Times owns and operates The Cannabis Cup, the world’s largest cannabis-themed series of events. High Times has entered into definitive agreements to acquire The Big Show, a leading US-based cannabis conference and exposition and Spanabis, the largest cannabis conference in the world based in Barcelona, Spain.

The magazine business, in general, has dropped as readers across all genre’s mostly consumer media in a digital method versus print publications. The company has acquired three high-profile print and online media brands: CULTURE, DOPE Magazine, and Green Rush Daily. High Times has also created a music label, a Video-On-Demand platform and successfully completed several licensing deals, as well as the re-release of its debut music record with distribution from retail giant Urban Outfitters.

“Our portfolio of complementary businesses excels at connecting cannabis consumers with a variety of brands,” Fox said. “This is a lucrative time for the global cannabis industry, the High Times brand and for all of our company stakeholders

 


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PORT RICHEY, FL, April 2, 2019 /AxisWire/ — Garyn Angel, CEO and founder of MagicalButter and inventor of the award winning MB2e botanical extractor, “MagicalButter machine,” was honored by High Times Magazine for his contributions shaping the global cannabis industry. This is the second year in a row Angel has been named High Times’ 100 Most Influential People in Cannabis.

Angels invention, The MagicalButter MB2e, is the world’s first countertop botanical extractor designed for creating recipes infusing the essence of healthy herbs into butter, oil, grain alcohol, lotions, and more. In 2012, Angel also founded the Cheers to Goodness Foundation, a unique, non-profit charity dedicated to uplifting medical refugees. The organization provides financial assistance to patients in need of specialized medical treatment, most recently donating MB2e machines to medical marijuana patients in need in the aftermath of Hurricane Maria in Puerto Rico.

“The top 100 of anything is an incredible honor, but High Times 100 Most Influential—when it’s the hottest industry in the world—really inspires us to work harder and continue to deliver products that our customers really love,” says Angel. “The DIY edibles market has really just begun, and MagicalButter is confident we’ll expand the shelf space we’ve created.”

MagicalButter’s groundbreaking products are distributed across North America, South America, Europe, Asia and Australia. The Port Richey, Florida, based company has spurred a global edible DIY market through providing consumers and patients with the tools and knowledge to decarboxylate, extract, infuse, create and store edibles and medibles at home.

Every year, The High Times 100 celebrates the 100 most influential people in the cannabis world, from entrepreneurs and activists to entertainers, politicians, cultivators and more.

About MagicalButter

MagicalButter is an entirely new category of products. The MagicalButter machine MB2e is the world’s first countertop botanical extractor designed for creating recipes infusing the essence of healthy herbs into butter, oil, grain alcohol, lotions, and more. Most important are the amazing benefits of certain plants people all over the world are discovering can be used to enrich their health. MagicalButter products are consistently affordable, easy to use, made from premium quality materials, and offer peerless customer service from TeamMB. As a team, we own the company, we design the products, we use them, we truly care about quality and about each customer—and our fans tell us it shows in the personalized attention they receive. Together We Win. https://www.magicalbutter.com


StaffStaffApril 1, 2019
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High Times Magazine hosted a party in Los Angeles, CA this past Friday evening celebrating the 20 Women of Weed Honorees. The party was held at the Boulevard 3 on Sunset Boulevard and looked to be heavily attended. This year marked the second year for this celebration of women who have made significant contributions to the industry.

Stormy Simon

The evening kicked off with a great speech from Stormy Simon, a previous honoree, followed by a powerful story by Honey Pot Founder Corey Thomas. Thomas told the audience about the challenges and successes of being a long-time cannabis entrepreneur. She also announced that the new rebranding of Honey Pot was finished and the new products would be launched shortly.

Rylie Maedler caused the huge ballroom to come to a hush as she told of her experience using medical marijuana and how it has helped her live a normal life despite having a rare type of debilitating bone tumor disease AGCG and a seizure disorder. A truly inspiring speech from an impressive 13-year old. One that reminded how cannabis can change lives.

Great, music, good food and a beautiful venue made the women in the room feel appreciated and truly special.

This year’s honorees included:

Alison Gordon, CEO of 48North (NRTH)

Amanda Ostrowitz, Founder, CannaRegs

Amanda Reiman, Vice President, Flow Kana

Amy McClintick, Cura

Ann Skalski, Chief Brand Officer, Double Barrel

Cassandra Farrington, Co-founder MJBiz Daily

Cevon Lee Iny, Co-Founder, House of Eden

Corey Thomas, Founder, Honey Pot

Cynthia Salarizadeh, Co-Founder, Chief Strategic Officer, Green Market Media

Debra Borchardt, Co-Founder, CEO of Green Market Report

Beth Stavola, Chief Strategy Officer, iAnthus Capital; CEO, CBD For Life

Emily Paxhia, Co-Founder, Poseidon Asset Management

Ester Vigil, VP Sales

Grace Lahlouh, Ganja Gold

Jackee Stang, VP Programming, High Times Magazine

Jamie Pearson, COO Bhang Corporation

Karson Humiston, Founder and CEO Vangst

Kathleen Thibault, Chief Culture, People Officer

Koala Puffs, Entertainer

Maya Elisabeth, Owner Om Edibles, Whoopi & Maya

Nidhi Lucky Handa, Co-creator LEUNE

Rachel Gillette, Attorney

Raechel White, Director of Brand Marketing Cresco Labs

Rylie Maedler, CEO Rylie’s Sunshine

Green Market Report’s Chief Strategic Officer Cynthia Salarizadeh and Editor-in-Chief Debra Borchardt



About Us

The Green Market Report focuses on the financial news of the rapidly growing cannabis industry. Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry. Our team is cultivating the industry’s critical news into one source and providing open source insights and data analysis


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