LOS ANGELES, March 27, 2020 (GLOBE NEWSWIRE) -- PRESS RELEASE -- Hightimes Holding Corp., the owner of High Times, has announced the signing of an LOI to acquire the California-based cannabis holding company Humboldt Heritage Inc. and its subsidiaries Humboldt Sun Growers Guild and Grateful Eight LLC.
This announcement comes just before the culmination of High Times Regulation A+ campaign, which has recruited over 26,000 shareholders before listing on the public markets.
This acquisition provides High Times with cannabis growing, processing and product manufacturing capabilities direct from the most coveted cannabis community in the world, Humboldt County. Coupled with High Times' recent retail acquisitions, the resulting company will become one of the state’s largest vertically-integrated operators, and provide exclusive access to 18 unique Northern California-based brands including True Humboldt and leading cannagar producer Cuba Libre.
“High Times mission is to connect consumers to cannabis--not only the best access and experience, but by making the best products available to our consumers across the country, and eventually the world,” Adam Levin, Hightimes Holding Corp.’s executive chairman, said. “This addition adds 200+ of the best cannabis-producing farms in the world, and the rest of the capabilities we’ll need to grow into the future as a larger High Times family!”
"This allows our cultivators' and their artisan brands unprecedented exposure to consumers as High Times reaches millions of people all over the world. The farmers in Humboldt Country have been leading parallel missions to High Times over the past 45 years," said Barry Nachshon, CEO of Humboldt Heritage Inc. "Knowing that we will be part of the High Times family, as well as a key manufacturing and supply chain partner as the company enters the retail and delivery markets in California is very exciting for our team."