Hightimes Holding Corp., the owner of High Times, one of the most widely recognized brands in the weed world, recently announced the signing of a Letter of Intent to acquire the California-based cannabis holding company Humboldt Heritage Inc. and its subsidiaries Humboldt Sun Growers Guild and Grateful Eight LLC.
Humboldt Heritage, Inc., was founded in 2015 by seven local farmers who sought to better serve the farming community in the region. Headquartered in Humboldt County, CA, HHI provides manufacturing, processing and distribution of cannabis products under its two wholly-owned subsidiaries, Humboldt Sun Growers Guild and Grateful 8. Humboldt Sun Growers Guild provides processing, white labeling services, and is the exclusive distributor of their flagship brands True Humboldt and Region.
This deal 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.
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,” says 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,” says Nachshon.
This announcement comes just before the completion of the High Times Regulation A+ financing round, which has recruited over 26,000 shareholders before listing on the public markets. It already received its ticker symbol ‘HTHC’ earlier this month.
Be sure to subscribe to updates here so you never miss an important update.
Get Real-Time Updates from MJobserver.com