Analysts: High Times sale could buoy cannabis industry
By Omar Sacirbey
The marijuana industry can expect higher valuations, more capital injections and increased merger and acquisition activity after the sale of High Times and the iconic magazine’s Cannabis Cup.
That’s the assessment of analysts following the deal, in which investors paid $42 million for a 60% stake in the company.
The diverse investor group – which includes Los Angeles investment firm Oreva Capital, musician Damian Marley, cannabis-focused social media platform MassRoots, and James Curnin of the Le Parker Meridien hotel family – immediately rebranded the business as High Times Holding Company.