LOS ANGELES, Aug. 10, 2018 (GLOBE NEWSWIRE) -- With its equity crowdfunding campaign proving highly successful, High Times Holding Company today said it would end a proposed merger with Origo and proceed toward a public listing directly on the NASDAQ itself. The company has previously filed for a direct listing on the NASDAQ and expects no delays because of this.
High Times, the most well known brand in cannabis, had pursued a merger with publicly held Origo, a special-purpose acquisition company, as a way to go public. To meet capital requirements for a public listing, High Times initiated an equity-crowdfunding campaign in June under the SEC’s Regulation A+ process.
“The Reg. A + process has been hugely popular, with hundreds of investors buying an average of about $2,000 worth of shares each,” said High Times CEO Adam Levin. “We decided it made more sense to continue with that straightforward process as we move toward a public listing on Nasdaq later this quarter.”
High Times 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 monthly digital impressions 425%, now reaching over 275,000,000 monthly digital impressions.
The company has invested significantly in internally developed and acquired intellectual property, including products and services such as High Times TV, a digital video platform for cannabis creators, influencers and advertisers. It has also established a number of strategic partnerships and acquisitions to further cement the brand’s place as the leader in Cannabis media.
The company expects to make its first milestone announcement further detailing progress on the Reg. A + process next week, Levin said. Current timelines still call for a listing later this year. Interested investors can visit HighTimes.com/Invest for more information about the current offering.
About High Times
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 .
Media Contacts Mediateam@hightimes.com
