The cannabis media giant High Times is growing like a weed. The company recently announced that they were going public in November of this year, allowing small investors – like cannabis enthusiasts and fans “who will benefit the most” from the company’s growth – to get a piece of the pie for a $99 minimum investment. The High Times shares are valued at a reasonable $11 each.
As the High Times brand continues to expand, they recently announced the acquisition of Seattle-based DOPE magazine and its affiliated events. High Times reports that the purchase price for the DOPE magazine assets is valued at $11.2 million. High Times plans to make the acquisition official on or around November 10, 2018.
“DOPE is a very strategic acquisition for our portfolio offering key complementary assets to our existing platforms and opening the opportunity for economies of scale to improve performance of all our entire publication group,” High Times CEO Adam Levin said in a press release.
This strategic acquisition is coming at a great time for the High Times media group. Their website says that the cannabis industry in California alone projects to grow to $6.6 billion by 2020, and to over $23 billion nationally. Now would be an opportune time for anyone looking to get in on the cannabis media company’s ground floor public offering.
DOPE magazine is one of several cannabis media acquisitions to join the High Times family – joining CULTURE, Green Rush Daily, and of course the online and print publication of High Times. The print publication of High Times is over 45 years old.
DOPE will retain all of their staff in the acquisition, including CEO George Jage. Jage is the former President of Marijuana Business Daily and one of the founders of the Marijuana Business Conference.
“We couldn’t be more excited to welcome George Jage, Dave Tran and their entire team to the High Times family,” said Levin. “What DOPE Media has built in such a short time is not only impressive, but needed considering the difficult landscape and legislation brands are faced with today. We look forward to not only combining our resources but expanding them.”
The DOPE brand hosts popular cannabis events in Seattle and Portland, which High Times will add to their existing roster of events. High Times hosted 4 events in 2016 in 4 U.S. locations, but those numbers will skyrocket to 23 events in 14 U.S. and international locations by next year.